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Bequests
A gift to the Boston Athenĉum in your will or revocable trust proclaims your confidence that we will continue to pursue our mission and make a difference in the lives of future generations. A bequest:
- is easy to arrange
- is revocable
- does not affect your assets or cash flow during your lifetime
You may have planned your estate through a revocable trust instead of a will. A transfer to the Athenĉum from your trust will bring you the same tax and planning benefits as a bequest from a will.
Your bequest or trust distribution to us will reduce the value of your estate for federal estate tax purposes, and will also be exempt from state inheritance taxes.
You Can Make Your Bequest in Several Ways:
A bequest can deliver a specific dollar amount or asset to the Athenĉum, or it can give us a percentage of the balance remaining in your estate after taxes and specific bequests have been paid. It can also be payable if an individual beneficiary is not able to inherit.
Language for Bequest
- Specific Bequest
“I hereby give, devise, and bequeath to the Trustees of the Boston Athenæum, or their successors, the sum of Twenty Thousand Dollars ($20,000) [or: the following described property: ____ ] for the general purposes of the Boston Athenæum.”
- Residuary Bequest
“I hereby give, devise, and bequeath to the Trustees of the Boston Athenæum, or their successors, Ten Percent (10%) of the residue of my estate for the general purposes of the Boston Athenæum.”
- Contingent Bequest
“If none of the above beneficiaries survive me, then I give the same to the Boston Athenæum, or their successors, to be used for the general purposes of the Boston Athenæum.”
- “Saving Clause”
If the donor has made a bequest for a specific purpose, particularly an endowed fund, it may be in the best interest of the donor and the Athenæum to insert a "saving clause," such as that suggested below. This avoids the possibility of having the gift go unused at some future time when the purpose for which it was intended may no longer exist.
“If, in the judgment of its Board of Trustees, the need for funds for the purpose described above no longer exists or is inappropriate, then said Board may use the gift to further the general purposes of the Boston Athenæum provided that the identity of any fund is maintained.”
Your Bequest Can Be Used by Us in Two Ways:
A bequest can be directed to a specific program or purpose at the Athenĉum, or you can tell us to apply it to our general resources or use it for the need that we believe is most pressing at the time it is received. So that it can be most useful, we prefer that the terms of a bequest be as general as possible, and ask you to consult us if you are considering a bequest for a specific purpose.
To learn more about bequests, Email us, complete the Information Request form, or call us at 617-720-7654 so that we can assist you.
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