Bequest Language

Residuary vs. Specific Bequests: Designating the Amount of the Bequest

• Residuary bequests are used to give the Stuyvesant High School Alumni Association all or a portion of your estate that remains after payment of expenses and specific amounts designated to other beneficiaries.
• Specific bequests are used to make a gift of a specific dollar amount or specific asset(s) (such as securities, real estate, or personal property) to the Stuyvesant High School Alumni Association.

Restricted vs. Unrestricted Bequests: Designating the Purpose of the Bequest

• Restricted bequests include a specific designation to support a particular program or purpose that reflects your personal or professional philanthropic interest (e.g., scholarships or student activities).
• Unrestricted bequests do not include a specific designation and therefore allow funds to be allocated by the Alumni Association. Leaving your bequest unrestricted allows your gift to be allocated to the areas of greatest need for both the school and the Alumni Association programs.

The following are examples of bequest language you can provide to your attorney. Each benefactor’s situation is unique and these examples include some but not all the possible bequest structures.

Percentage of estate for unrestricted purposes
I give, devise, and bequeath to the Stuyvesant High School Alumni Association, a not-for-profit organization located in New York, New York (“the Alumni Association”), ____percent (____%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used for the general purposes of the Alumni Association.

Percentage of estate for specific purposes with an endowment provision
I give, devise, and bequeath to the Stuyvesant High School Alumni Association, a not-for-profit organization located in New York, New York (“the Alumni Association”), ____percent (____%) of the rest, residue, and remainder of my estate to be used as I have directed, from time to time, in a separate written fund agreement by and between me and the Alumni Association; provided, however, if no such fund agreement exists at the time of my death, then for its general purposes.

Specific amount for unrestricted purposes
I give, devise, and bequeath to the Stuyvesant High School Alumni Associatione, a not-for-profit organization located in New York, New York (“the Alumni Association”), the sum of $_______ in cash or in-kind as an unrestricted gift to be used for the general purposes of the Alumni Association.

Specific amount for specific purposes
I give, devise, and bequeath to the Stuyvesant High School Alumni Association, a not-for-profit organization located in New York, New York (“the Alumni Association”), the sum of $_______ in cash or in-kind to be used as I have directed, from time to time, in a separate written fund agreement by and between me and the Alumni Association; provided, however, if no such fund agreement exists at the time of my death, then for its general purposes.

If you are considering making or have already made provisions for the Stuyvesant High School Alumni Association in your estate, please contact a member of our staff to discuss your intentions. Our staff can provide guidance to you and your attorney in drafting language that will ensure that your gift is used as you intend. In addition, informing the Alumni Association of your intentions allows us to express our deep gratitude for your generosity and commitment to the mission and continued excellence of Stuyvesant.

Please contact us if you have any questions and thank you for considering a planned gift to the Stuyvesant High School Alumni Association.

The Stuyvesant High School Alumni Association does not provide tax, legal or financial advice. Any document or information shared by our staff is intended to be educational. The Alumni Association strongly encourages all of our benefactors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by the Stuyvesant High School Alumni Association cannot be used to avoid tax-related penalties.