Bequests Through Your Will
A Will is the most fundamental part of your estate plan. It specifies how and to whom your property will be distributed after your lifetime. After providing for family members and friends, a bequest in your Will enables you to continue your support of Yo San University. In many cases, it also helps to reduce taxes on your estate. A Will can be updated or changed at any time, and it should be reviewed regularly to keep up with changing tax laws and family needs.
A Will may be used with many of the Yo San Giving Plans.
You should always consult with your attorney when planning or revising your Will to ensure your intentions will be carried out properly.
Four Types Of Bequests:
- A residual bequest grants the residue, or portion of the residue, of your estate to YSU after explicit bequests have been made:
“I give, devise, and bequeath to Yo San University, a non-profit organization located at 13315 W. Washington Blvd., Los Angeles 90066 all (or____%) of the rest, residue, and remainder of my estate, both real and personal property of whatever kind and where so ever situated.”
- A specific or explicit bequest for a stated dollar amount or particular security:
“I give, devise and bequeath to Yo San University, a non-profit organization located at 13315 W. Washington Blvd., Los Angeles 90066, the sum of $___ (or describe the specific stock or security you intend to bequeath).”
- A contingent bequest in case one or more of your bequests cannot be fulfilled:
“If any of the above named beneficiaries should predecease me, I hereby bequeath his/her share of my estate to Yo San University, a non-profit organization located at 13315 W. Washington Blvd., Los Angeles, CA 90066.”
- A life income bequest provides income to someone close to you with the principal reverting to Yo San University after his/her lifetime.