The following sample wording can be included in your Last Will and Testament or Trust to ensure your wish of leaving a legacy to help Miami Children’s Hospital make an impact on the lives of the children and families we serve. Please consult with your attorney for more extensive suggested language to be specifically tailored to your needs.
Legal Name and Tax ID #:
Miami Children’s Hospital Foundation
3000 SW 62nd Avenue
Miami, Florida 33155
Tax ID #: 59-1720704
Types of Bequests
Specific Bequest
A gift that is to be used for a particular purpose.
"I give, devise and bequeath [identify here a specific sum of money, percentage or a specific asset] to Miami Children's Hospital Foundation, a non-profit 501(c)(3) charitable organization located at 3000 SW 62nd Avenue, Miami, FL 33155, to be used for its general purposes [or identify a specific purpose or area at Miami Children’s Hospital, if desired]."
Residuary Bequest
A gift of any remainder after all other bequests have been paid.
"I give, devise and bequeath all [or a percentage – for example, fifty percent (50%)] of the rest, residue and remainder of my estate, both real and personal to Miami Children's Hospital Foundation, a non-profit 501(c)(3) charitable organization located at 3000 SW 62nd Avenue, Miami, FL 33155, to be used for its general purposes [or identify a specific purpose or area at Miami Children’s Hospital, if desired]."
Contingent Bequest
A gift that takes effect only if a primary intention cannot be met.
"In the event that [insert name of primary beneficiary] does not survive me, or shall die during the administration of my estate, then I give, devise and bequeath all of the rest, residue, and remainder of my estate or [identify here a specific sum of money, a specific asset or the percentage of the residual estate that would have been given to the primary beneficiary], to Miami Children's Hospital Foundation, a non-profit 501(c)(3) charitable organization located at 3000 SW 62nd Avenue, Miami, FL 33155, to be used for its general purposes [or identify a specific purpose or area at Miami Children’s Hospital, if desired]."
Restricted Bequest
Many friends and supporters of Miami Children's Hospital Foundation wish to support special programs or needs of Miami Children’s Hospital. If this is your wish, your Will or Trust should clearly state the intended purpose.
Endowment
Endowments provide ongoing support because the income or a specific percentage of the fund is spent solely for the purpose designated by the donor while the principal is retained in perpetuity. Please note a gift of $100,000 or more is required to establish a named endowment fund by bequest.
"I give, devise and bequeath to Miami Children's Hospital Foundation, a non-profit 501(c)(3) charitable organization located at 3000 SW 62nd Avenue, Miami, FL 33155, to benefit Miami Children’s Hospital, [insert here the sum, percentage, or description of property] to be held as a permanent endowment to be known as "The [insert name] Endowed Fund" to be used for the following purpose(s):
[Description of purpose(s)]
If, in the opinion of the President or the Executive Committee of the Board of Directors of Miami Children’s Hospital Foundation, all or part of the distributions (as defined by the endowment distribution policy established by the Foundation and amended from time to time) from the fund are no longer needed for the purpose(s) stated, then distributions may be used for other purposes which the President or Executive Committee of the Board of Directors deems to be in the best interest of the Hospital, giving consideration to the original purpose(s) described above."
When working with your attorney, make sure to use general language within any restricted bequest. This will help ensure that your gift is used per your wishes and in the most efficient way. The following is a sample of general language that can be used.
"If it is determined by the President or the Executive Committee of the Board of Directors of Miami Children’s Hospital Foundation that all or part of the gift is no longer needed, or for any reason cannot be used for the stated purpose, then such portion of the gift may be used for other related purposes, which the President or the Executive Committee of the Board of Directors deems to be in the best interests of the Hospital, giving consideration to the original purposes described above."