Bequest in a Will or Trust

How to Create a Bequest to the Lucy Robbins Welles Library

You be the one to determine the distribution of your assets. But a will does more than just ensure your wishes are carried out upon your death. Drawing up a will can be a wise financial move for you and your family, as well as the organizations you support. Whether providing for a spouse, children, or charitable organizations, your will should be prepared with an attorney’s help and reviewed regularly.

If you’re planning a deferred gift to Lucy Robbins Welles Library through the Legacy Society, a bequest through a will or revocable trust is one of the most popular and flexible routes. Our sample bequest language may assist you and your attorney in preparing your bequest to the Lucy Robbins Welles Library.

A gift of any size, even smaller contributions, can have a large and lasting effect on Lucy Robbins Welles Library patrons, staff and programs.

Benefits of a Bequest in a Will or Trust

  • Immediate benefit to the Lucy Robbins Welles Library to fulfill its mission
  • Estate tax savings
  • No impact on your current assets

Kinds of Bequests

Residual or proportional bequests designate either your entire estate or a percentage of your estate after other specific bequests are distributed. The advantage of designating a proportion of your estate to the Lucy Robbins Welles Library is that the bequest automatically adjusts in size as your estate increases or decreases over time.

A specific bequest is the simplest form of bequest. It designates a fixed dollar amount or specific property to a beneficiary like the Lucy Robbins Welles Library. This type of bequest is appropriate when you have an item of value like bonds or stocks, real estate, works of art, etc. or a specific dollar amount that you wish to leave to the Library.

Contingent bequests are carried out only if circumstances make it impossible to carry out a primary bequest. For example, if all other beneficiaries are deceased, then a contingent beneficiary receives a bequest.

How to Create a Bequest to the Lucy Robbins Welles Library

An attorney should draft or amend your will because it is a legal document. Our sample bequest language may assist you and your attorney in preparing your bequest to the Lucy Robbins Welles Library. At the same time, the Library Director, the Board of Trustees and its legal counsel will be pleased to work with you and your attorney to draft a bequest that satisfies your goals and fits your situation, as well as one that meets the Library’s needs. The Library will benefit from all three types of bequests defined above.

To assure that your plan is carried out according to your wishes, please inform the Library of your plan the moment you draft it; your direct contact with the Library will ensure that your wishes are met. As always, your plan will remain confidential.