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“I devoted my career to healthcare in our community and recognize how important Saratoga Hospital is to everyone who lives here. … That’s why I have included Saratoga Hospital in my will. I wanted to make our hospital even better.”
Bequests are the simplest, most popular form of planned gift to Saratoga Hospital.
Many people mistakenly believe that only the wealthy can make a bequest. In fact, individuals of modest means often turn to bequests because they allow you to make a meaningful gift—without depleting assets during your lifetime.
Bequests offer other advantages, as well. They reduce the estate taxes paid by your heirs and, because bequests are revocable gifts, you can amend them if your circumstances change.
Considering a bequest to Saratoga Hospital?
We encourage you to consult with your financial and legal advisors when considering any gift to the Hospital. Following is some sample language to share with your advisor during your discussions.
Unrestricted Bequest: Gives Saratoga Hospital the flexibility to use your gift to have the greatest possible impact.
“I bequeath to Saratoga Hospital, a not-for-profit corporation established under the laws of the State of New York… [the sum of money, the following property described exactly, a stated percentage of the estate, or the rest, residue and remainder of my estate]… to be used for the benefit of Saratoga Hospital in such manner as Saratoga Hospital shall deem fit and proper.”
Restricted Bequest: Sets limits on how your gift is used, e.g. for a building, equipment, staff training, or other specific uses.For instance, the restriction may state:
“…to be invested with the general endowment funds of Saratoga Hospital the whole or any part of the income to be used for its general purposes.”
If you are considering a restricted bequest, we welcome the opportunity to work with you to make sure the language reflects your wishes.