The residue is what remains after all your taxes, creditors, expenses and specific gifts to beneficiaries have been paid. An advantage to leaving Amazing Discoveries a residual amount is that your will does not have to be altered when your financial circumstances change, as the proportion will remain the same.
You can gift the entire residue of your Estate to Amazing Discoveries with the following language in your will:
“I bequeath the entire residue of my estate to Amazing Discoveries Ministries.”
Or you can gift a percentage of the residue of your Estate by using the following language:
“I bequeath ____% of the residue of my estate to Amazing Discoveries Ministries.”
You can also give a specific amount or a specific asset to Amazing Discoveries by using the following language in your will:
“I give $_____________ to Amazing Discoveries Ministries.”
Because projects are continuously being added and completed, we recommend that donors do not designate bequests in their Will to a specific Amazing Discoveries project. This could result in legal issues if the project is no longer running when the donor passes away. However, if a donor is set on leaving a bequest to a specific project, we recommend the following language after the bequest:
“If the designated Amazing Discoveries project/program is no longer in place, then the amount shall be given to another active Amazing Discoveries project.”
We recommend that you consult a legal advisor when planning your will.