Museum of New Mexico Foundation's Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to the Museum of New Mexico Foundation and to benefit one or more of the institutions we support.
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 the Museum of New Mexico Foundation to benefit the Foundation and the institutions we support.
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 the Museum of New Mexico Foundation and to benefit the institutions we support.
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 the Museum of New Mexico Foundation and to benefit the institutions we support.
Bequest Benefits
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Museum of New Mexico Foundation and to the institutions we support in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to the Museum of New Mexico Foundation and to benefit the institutions we support, we recommend the following language:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Museum of New Mexico Foundation, a nonprofit organization located at PO Box 2065, Santa Fe, NM, 87504-2065, Federal Tax ID #____________, for the Foundation's [and named institution(s)] general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Museum of New Mexico Foundation, a nonprofit organization located at PO Box 2065, Santa Fe, NM, 87504-2065, Federal Tax ID #_______________, for the Foundation's [and named institution(s)] general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the Museum of New Mexico Foundation, a nonprofit organization located at PO Box 2065, Santa Fe, NM, 87504-2065, Federal Tax ID #_______________, for the Foundation's [and named institution(s)] general use and purpose.
If you are considering making a bequest of a percentage of your estate to the Museum of New Mexico Foundation, we recommend the following language:
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Museum of New Mexico Foundation flexibility should it no longer be possible for the Museum of New Mexico Foundation or the designated institution to use your gift as you originally intended:
Contact Us
Please contact us if you have any questions about how to make a bequest to the Museum of New Mexico Foundation and to benefit the institutions we support 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 the Museum of New Mexico Foundation or designated for the institutions we support in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Our Mission
The Museum of New Mexico Foundation supports the Museum of New Mexico system, in collaboration with the Museum of New Mexico Board of Regents and the New Mexico Department of Cultural Affairs. The Foundation's principal activities are fund development for exhibitions and education programs, retail and licensing programs, financial management, advocacy and special initiatives.
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