BEQUEST A GIFT

One way to support Pi Chapter TKE is to leave a bequest. A bequest is a gift made in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy and make a difference.

 

Types of Bequests

There are a number of ways you can make a bequest to the Pi Chapter. You can leave what is called a specific bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Pi Chapter TKE. Another kind of specific bequest involves gifting a specific percentage of your overall estate. For example, you may wish to leave 10% of your estate to Pi Chapter.

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Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests.

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A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Pi Chapter TKE.  There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests are exempt from federal estate taxes.

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Bequest Language

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In order to make a bequest, you should speak with your attorney or advisor. If you are considering making an outright bequest to TKE Educational Foundation, we recommend the following language:

 

Bequest of a Specific Dollar

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Amount:

I hereby, give, devise and bequeath [$DOLLARS OR RESIDUAL AMOUNT} to Pi Chapter House Corporation, a not-for-profit corporation located at 346 East Prospect Avenue, State College PA 16801, Federal Tax ID ########, for Pi Chapter of Tau Kappa Epsilon general use and purpose.

 

Bequest of Specific Personal Property

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I hereby, give, devise and bequeath [DESCRIPTION OF PROPERTY] to Pi Chapter House Corporation, a not-for-profit corporation located at 346 East Prospect Avenue, State College PA 16801, Federal Tax ID ########, for Pi Chapter of Tau Kappa Epsilon general use and purpose.

 

Bequest of Specific Real Estate

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I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at [ADDRESS OR DESCRIPTION OF PROPERTY] to Pi Chapter House Corporation, a not-for-profit corporation located at 346 East Prospect Avenue, State College PA 16801, Federal Tax ID ########, for Pi Chapter of Tau Kappa Epsilon general use and purpose.

 

Bequest of Percentage of an Estate

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I hereby, give, devise and bequeath [PERCENTAGE OF YOUR ESTATE OR RESIDUAL OF ESTATE] to Pi Chapter House Corporation, a not-for-profit corporation located at 346 East Prospect Avenue, State College PA 16801, Federal Tax ID ########, for Pi Chapter of Tau Kappa Epsilon general use and purpose.

 

Restricted Bequest

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If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you to help you identify ways to give that will ensure your objectives can be met. We will also work with you to craft language to accomplish your objectives.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Pi Chapter House Corporation flexibility should it no longer be possible for PCHC to use your gift as you originally intended:

If, in the judgment of the Board of Directors of PCHC, it shall become impossible for PCHC to use this bequest to accomplish the specific purposes of this bequest, PCHC may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

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