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Bequest

Including Seattle Children's in your Estate Plan

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The Value of Bequests

To leave a bequest is to make a permanent statement of your values. It is by this act that the world will remember you, what you cared about and what you stood for.

Bequests are also the most realistic way for many donors to leave a legacy for succeeding generations. Over the past decades, hundreds of individuals, many of them of modest means, have left meaningful legacies for children's care at Seattle Children's Hospital.

Thanks to their bequests, Seattle Children's has been able to continue saving the lives of thousands of children who need critical care. Making a bequest is easy to do. Your attorney can include the necessary language in your will, in a codicil to your will, or in a revocable living trust.

Suggested Clauses

The clauses below are suggestions only. More extensive suggested language may be specifically tailored to your needs by your attorney in consultation with Seattle Children's Hospital Foundation.

1. Specific

I give, devise and bequeath [identify here a specific sum of money or a specific asset] to Seattle Children's Hospital Foundation, 4800 Sand Point Way N.E., Seattle, Washington 98105, to be used for the benefit of Seattle Children's Healthcare System, 4800 Sand Point Way N.E., Seattle, Washington 98105, in such a manner as the Board of Trustees thereof may direct.

2. Residuary

I give, devise and bequeath all [or a portion for example, fifty percent (50%)] of the rest, residue and remainder of my estate to Seattle Children's Hospital Foundation, 4800 Sand Point Way N.E., Seattle, Washington 98105, to be used for the benefit of Seattle Children's Healthcare System, 4800 Sand Point Way N.E., Seattle, Washington 98105, in such a manner as the Board of Trustees thereof may direct.

3. Contingent

In the event that [insert name of primary beneficiary] shall not survive me, or shall die ninety (90) days from the date of my death, then I give, devise and bequeath [identify here a specific sum of money, a specific asset or the portion of the residual estate that would have been given to the primary beneficiary] to Seattle Children's Hospital Foundation, 4800 Sand Point Way N.E., Seattle, Washington 98105, to be used for the benefit of Seattle Children's Healthcare System, 4800 Sand Point Way N.E., Seattle, Washington 98105, in such a manner as the Board of Trustees thereof may direct.

4. Restricted

I give, devise and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to Seattle Children's Hospital Foundation, 4800 Sand Point Way N.E., Seattle, Washington 98105, to be used for the benefit of Seattle Children's Healthcare System, 4800 Sand Point Way N.E., Seattle, Washington 98105, specifically for [describe the primary purpose, such as general purposes of the Hospital, equipment, research, or program - cancer, cardiology, birth defects, etc].

Use general language so that the restriction is not so limited as to prevent Seattle Children's from applying the money in the most efficient way.

If it is determined by the Board of Trustees of Seattle Children's 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 Board of Trustees deems to be in the best interests of Seattle Children's, giving consideration to the original purposes described above.

Many friends of Seattle Children's wish to support special programs or needs of the Hospital. In this case, your will or trust should clearly state the intended purpose.

5. Endowment

Note: a gift of $100,000 or more is required to establish a named endowment fund by bequest.

An endowment can also be established in a will or living trust. An endowment is a separately managed, restricted fund that is usually named for the donor, and is created with a bequest of $100,000 or more.

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.

I give, devise and bequeath to Seattle Children's Hospital Foundation, 4800 Sand Point Way N.E., Seattle, Washington 98105, to benefit Seattle Children's Healthcare System, 4800 Sand Point Way N.E., Seattle, Washington 98105, [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 it is determined by the Board of Trustees of Seattle Children's that all or part of the distributions (as defined by the endowment distribution policy established by the Board of Trustees 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 Board of Trustees deems to be in the best interest of Seattle Children's, giving consideration to the original purpose(s) described above.

Beneficiary Designation

When naming Seattle Children's Hospital Foundation as a beneficiary of your retirement plan, IRA, life insurance, securities/brokerage account (transfer on death account) or bank account (payable on death account), we recommend the following information on your beneficiary designation form:

Seattle Children's Hospital Foundation
4800 Sand Point Way NE
Seattle, WA 98105

Federal Tax ID Number: 91-1156519

Please contact us so that we can assist you through every step of the process.

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This is not professional tax or legal advice. Donors must consult their tax and legal advisors regarding their specific situation.






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