Suggested Designations for Wills and Trusts Benefiting the Hispanic Assistance Fund

General Designation: With a general designation, you simply state a specified dollar amount.

"I give the sum of _________________________ DOLLARS ($ __________) to the HISPANIC ASSISTANCE FUND in Greenville, South Carolina, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, for its general use and purpose."

Specific Designation: With a specific designation, you designate that the HISPANIC ASSISTANCE FUND is to receive a specific piece of property.

"I give _________________________ [insert description of property] to the HISPANIC ASSISTANCE FUND in Greenville, South Carolina, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, for its general use and purpose."

Residuary Designation: A residuary designation is used to designate the HISPANIC ASSISTANCE FUND all (or a portion thereof) of the property in your estate after all debts, taxes, expenses, and all other designations have been honored.

"I give all of the rest, residue, and remainder of the property I own at my death to the HISPANIC ASSISTANCE FUND in Greenville, South Carolina, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, to be used for its general use and purpose."

Percentage Designation: The designation can be expressed as a percentage of your estate or your residuary estate.

"I give ______% of my gross estate for federal estate tax purposes to the HISPANIC ASSISTANCE FUND in Greenville, South Carolina, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, for its general use and purpose."

Contingent Designation: It is important to plan for the situation when the beneficiary of a will or trust dies before you or disclaims the property. In anticipation of such an occurrence, the HISPANIC ASSISTANCE FUND may be named as the alternate or contingent beneficiary. This will ensure that your property will pass to the HISPANIC ASSISTANCE FUND rather than to unintended beneficiaries.

"If _________________________ [insert name] predeceases me or disclaims any interest in _______________________________[describe the property], I give such property to the HISPANIC ASSISTANCE FUND in Greenville, South Carolina, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, for its general use and purpose."

Restricted Designation: The samples of will or trust designations suggested above are designed to provide unrestricted gifts. However, you may prefer to restrict your designation for a specific purpose.

"I give _____________ DOLLARS ($________) to the HISPANIC ASSISTANCE FUND, so long as it is at the time an organization to which contributions are deductible for estate tax purposes under Internal Revenue Code § 2055 or its successor provisions, in Greenville, South Carolina. This gift should be used to support the [insert the purpose for which the gift is to be used]. If the Executive Director of the HISPANIC ASSISTANCE FUND determines that it is not feasible or economical to use the gift for the purpose stated above, the gift may be used for such purposes of the HISPANIC ASSISTANCE FUND as the Executive Director directs."

Please share this wording with your legal advisor for his professional opinion.