Bequests

 
   
 

Some individuals determine that the best way for them to support the OEHF is through a bequest in their will. There are three different types of bequests: specific, residual, and contingent bequests. However, for each type of bequest, the entire value of the bequest is eligible for an estate charitable tax deduction.

Specific Bequest

In a specific bequest, the donor designates a particular property (shares of stocks), dollar amount, or a percentage of the estate to be transferred to the OEHF. For example, “I give to the Occupational & Environmental Health Foundation located in Arlington Heights, Illinois, the sum of $________ , or _____% of, my estate; or the property described herein for its general purposes.” You may also designate the funds to go to either research or education, including the Occupational Physicians Scholarship Fund (OPSF) in lieu of “general purposes.”

Residual Bequest

A donor may request that all or a portion of the remaining or residuary estate be transferred to the OEHF. The residuary estate is what remains after all other beneficiaries, as well as debts, taxes, and other expenses have been paid. The will may read “All the rest, residue, and remainder of my estate, both real and personal, I give to the Occupational & Environmental Health Foundation located in Arlington Heights, Illinois, to be used for (general purposes, research or education, OPSF.).”

Contingent Bequest

A donor may designate all or a portion of his or her estate to be transferred to the OEHF only if a named beneficiary predeceases him or her. For example, “If any of the foregoing bequests shall lapse, then I give to the Occupational & Environmental Health Foundation located in Arlington Heights, Illinois, such bequests as to which ineffective disposition was made.” These bequests can be directed to OEHF’s general purposes, research or education or OPSF.

As with all charitable gifts, please consult your attorney and financial advisors to assure that your wishes are appropriately incorporated into your will.