For many, including a bequest as part of your written will is the simplest way to make a lasting gift and create a connection between you and Exceptional Persons, Inc. (EPI) forever. First, make a plan, in the form of a written will (or modification of an existing will). Your plan should be developed in consultation with qualified legal counsel (preferably a lawyer with estate planing expertise). Think about the following as you make your plan for leaving a lasting gift to benefit EPI:
What type of bequest is most fitting?
There are three main types of bequests. Your legal/estate planning professional can help you identify and adopt the type(s) which make the most sense for your needs.
- Specific Bequest: Your written will designates the specific dollar amount, the specific percentage or the specific property/asset you wish to go to Exceptional Persons Foundation.
- Residual Bequest: Your will instructs that after all taxes, legal/accounting and other specific personal and/or charitable bequests have been paid, the remaining amount (the "residue") goes to Exceptional Persons Foundation.
- Contingent Bequest: Your will can be written to specify certain conditions which must be met before a bequest is transferred to Exceptional Persons Foundation. This type of bequest is typically designed to address a personal "what if" scenario. For example, if an individual who is to receive a bequest under your will is no longer living at the time of your passing, then you may specify the bequest originally designated for them would instead go to Exceptional Persons Foundation.
How much should I give?
Exceptional Persons Foundation welcomes legacy gifts of all sizes. We sincerely appreciate that a gift by bequest can be among the largest financial commitments you will make, with the greatest and longest-lasting positive impact.
We do encourage our donors to consider bequests that are percentage-based rather than for specified dollar amounts. This can help keep the bequests in your will current even if your financial circumstances change over time.
We also encourage legacy gifts that are made to support Exceptional Persons Foundation's programs overall (as opposed to bequests that are designated for more specific purposes). This allows us the flexibility to use your gift in ways that help meet the greatest need at the time the gift is received. Unless otherwise designated, bequests and planned gifts serve to build the permanent endowment.
Identifying a Gift for EPI
By making a provision for the Exceptional Persons Foundation in your will, you can make a substantial contribution without diminishing the assets available to you during your lifetime. A gift by bequest can be among the largest financial commitments you will make, with the greatest and longest-lasting positive impact.
The Exceptional Persons Foundation welcomes bequests of all sizes. Whether you wish to memorialize a loved one, underwrite a specific project or endow a gift to assure the future of Exceptional Persons, Inc. (EPI), a gift by bequest can make a lasting impression on the future of EPI.
Sample Bequest Language
Exceptional Persons Foundation is the official entity for receiving and administering gifts for EPI. By using accurate language to describe the organization(s) which will receive bequests, you can help make sure your wishes are carried out as intended.
Sample text in a will might read as follows:
"I give, devise, and bequeath [insert amount of gift, percentage of estate, or residuary of estate here] to Exceptional Persons Foundation, with office located at 760 Ansborough Avenue, PO Box 4090, Waterloo, IA 50704-4090."
Many bequests are in the form of a bequest of a specific percentage of the total estate or the total residual (or a percentage of the residual) of the estate.
Official Name of Gift Organization
Exceptional Persons Foundation
PO Box 4090
760 Ansborough Ave
Waterloo, IA 50704-4090
Tax Identification Number
42-1484814
* Please consult your personal advisors regarding tax consequences and terms of any will, trust or annuity agreement as well as the advisability of the gift.