United States Olympic and Paralympic Foundation's Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to United States Olympic and Paralympic Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to United States Olympic and Paralympic Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving 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 United States Olympic and Paralympic Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to United States Olympic and Paralympic Foundation.
Bequest Benefits
Bequest Language
Unrestricted Specific Bequest (cash or other) : "I give, devise, and bequeath [the sum of ________ dollars ($____ )] [PROPERTY DESCRIPTION] [all of my right, title, and interest in real property located at ____________ ] * to the U.S. Olympic and Paralympic Foundation, a qualified exempt charity located at 1 Olympic Plaza, Colorado Springs, CO 80909, EIN 80-0939841, for its unrestricted use and purpose."
Restricted Specific Bequest (cash or other) : "I give, devise, and bequeath [the sum of __________ dollars ($____ )] [PROPERTY DESCRIPTION] [all of my right, title, and interest in real property located at ____________ ] * U.S. Olympic and Paralympic Foundation, a qualified exempt charity located at 1 Olympic Plaza, Colorado Springs, CO 80909, EIN 80-0939841. This gift shall be used for [NAME OF INITIATIVE or SPORT] or its successor, unless. Unless otherwise determined to be budget relieving, this gift will constitute a special grant to [INITIATIVE or SPORT].
Share of, or entire residue, of estate : "I give, devise, and bequeath [all] [ %] of the remainder or residue of my estate to the U.S. Olympic and Paralympic Foundation, a qualified exempt charity located at 1 Olympic Plaza, Colorado Springs, CO 80909, EIN 80-0939841, for [its unrestricted use and purpose] [This gift shall be used for [NAME OF INITIATIVE or SPORT] or its successor, unless. Unless otherwise determined to be budget relieving, this gift will constitute a special grant to [INITIATIVE or SPORT]] or its successor."
Bequest for an Endowment : "I give, devise, and bequeath to the U.S. Olympic and Paralympic Foundation, a qualified exempt charity located at 1 Olympic Plaza, Colorado Springs, CO 80909, EIN 80-0939841, [INSERT APPROPRIATE BEQUEST FROM ABOVE] to [create/be added to the NAME OF FUND] to be retained and invested by the Board of Directors of the U.S. Olympic and Paralympic Foundation according to the terms of said fund [as previously determined/as described herein]."
Beneficiary Designation (Bank account, Brokerage Account): Work directly with institution to name U.S. Olympic and Paralympic Foundation, EIN 80-0939841, 1 Olympic Plaza, Colorado Springs, CO 80909 as the P.O.D. (payable on death) beneficiary.
Beneficiary Designation (life insurance, retirement account): Utilize 'Beneficiary Election' form of Life Insurance Company or Retirement Account Custodian to name U.S. Olympic and Paralympic Foundation, EIN 80-0939841, 1 Olympic Plaza, Colorado Springs, CO 80909 as a beneficiary of a sum certain, percentage or full account.
*If the bequest is of real property, please include the exact legal description of that property.
Contact Us
Please contact us if you have any questions about how to make a bequest to United States Olympic and Paralympic Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for United States Olympic and Paralympic Foundation in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.