Bequests, also known as estate gifts, are made by will or trust. Bequests are one of BIDMC's most enduring sources of individual support and are also a powerful expression of your faith in our future.
Bequests allow BIDMC to build new facilities, launch important research projects, sustain innovative clinical programs, and expand departments by adding new staff and equipment-all of which are vital to the success of the Medical Center. BIDMC has made tremendous strides in health care because of the generosity of individuals who thoughtfully considered the Medical Center's need for a strong financial future.
There are many ways to make a bequest to BIDMC, whatever the size of your intended gift. You may leave a specific amount or a percentage of your estate. You can also make a bequest of tangible personal property (artwork, etc.), real estate, or other specific assets. A bequest not only provides significant future support to BIDMC - it can also reduce your taxable estate and allow you to maintain control over your legacy.
Summary of benefits:
- A bequest is deductible for federal estate tax purposes.
- Your assets remain in your control during your lifetime.
- Bequests are generally not subject to state and inheritance taxes.
- You receive membership in the Lunn Society, BIDMC's recognition society for individuals who have made a planned gift.
When making or revising a will, a donor should obtain the assistance of an attorney. Our planned giving professionals will be pleased to work with you and your attorney to design an estate plan specifically tailored to your wishes.
Your will can specify a particular designation within the Medical Center (known as a restricted bequest), or alternatively, you may allow our board and leadership discretion and flexibility in your bequest to meet the needs and opportunities presented to BIDMC (known as an unrestricted bequest).
Bequests are generally most beneficial to BIDMC when they provide some flexibility with regard to their use. Our hope is that when your gift is realized, it can be used for the needs most critical at that time. We can be of assistance to you as you consider the options best suited to your individual circumstances.
We suggest the following language when making various types of bequests:
"I hereby give and bequeath [________ dollars / __________ percent or all of the residue of my estate] to Beth Israel Deaconess Medical Center, Inc. ("BIDMC"), a Massachusetts charitable corporation, with an address of 330 Brookline Avenue, Boston, Massachusetts, to be used for BIDMC's general charitable purposes."
“I hereby give and bequeath [________ dollars / __________ percent or all of the residue of my estate] to Beth Israel Deaconess Medical Center, Inc. ("BIDMC"), a Massachusetts charitable corporation, with an address of 330 Brookline Avenue, Boston, Massachusetts, for the benefit of BIDMC to be used for [specific purpose, program, department]. If at any time in the judgement of BIDMC it is impossible or impracticable to carry out the designated purpose, BIDMC shall determine an alternative purpose as near as possible to the donor’s original intent.”
The Office of Development is ready to consult with you and/or your advisor about bequests to BIDMC and to help you with any questions you may have about other forms of charitable giving that may benefit you, your family, and BIDMC. To learn more, please contact Noreen Mitchell at (617) 667-1387 or firstname.lastname@example.org.
Note: The information on this website is not intended to serve as legal or financial advice. When planning a specific charitable gift, the services of a legal or financial advisor should be obtained.