A bequest is simple and convenient. You have a number of options.
You can make a bequest for a specific dollar amount or for a percentage of your estate. You can designate your bequest for general use, or you can restrict its use. Many individuals establish endowments that honor the memory of a family member or another loved one. These endowments live forever, since only the income is used annually. Since a will is an important legal document, you should seek an attorney’s help. To assist you with this important process, we offer some suggested bequest wording below..
Following are some examples of various types of bequests:
Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.
Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.
Including the Virginia Zoo in your will
The following includes several examples of suggested bequest wording to benefit the VIrginia Zoo.
Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision with the Virginia Zoo to ensure that your wishes will be properly followed and recognized.
Percentage of estate for unrestricted purposes
I give, devise, and bequeath to the Virginia Zoological Society, a not-for-profit organization located in Norfolk, Virginia, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Directors of the Virginia Zoological Society for the general purposes of the Virginia Zoo, located in Norfolk, Virginia.
Specific amount for unrestricted purposes
I give, devise, and bequeath to the Virginia Zoological Society, a not-for-profit organization located in Norfolk, Virginia, the sum of $_______ in cash or in-kind (or ________ shares of ________ stock) to be used at the discretion of the Board of Directors of the Virginia Zoological Society for the general purposes of the Virginia Zoo and its related entities.
Specific amount for specific purposes
I give, devise, and bequeath to the Virginia Zoological Society, a not-for-profit organization located in Norfolk, Virginia, the sum of $_______ in cash or in-kind (or ________ shares of ________ stock) to be used for __________________________________________ at the Virginia Zoo.
If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the Virginia Zoological Society Board of Directors may redesignate the purpose to adhere as closely as possible to my original intent.
To assist you with your plans, the Virginia Zoo can provide sample language for the program or area you wish to support. This confidential service is available to you without obligation.
