Leave a Bequest
A bequest is the tool most used by those who want to remember our school at their passing. A bequest is simply the process of remembering OCS in one’s will. There are several possible ways to bequeath to the school:
- A fixed sum of money or property
- A percentage of the total value of the estate
- The remainder of your estate after all other bequests have been made
- A secondary or contingent bequest should a loved one precede you in death
- A beneficiary of a term life insurance policy
A donor may include OCS in his/her will when it is first written or the will may be amended by adding a simple codicil to the will that expresses the donor’s desires to include our school.
By including OCS in your will you may avoid giving a large portion of your hard-earned estate to the government in the form of estate taxes. A gift to OCS is tax-free. A bequest to Ouachita Christian School is not subject to estate tax and helps reduce the tax liability for your heirs.
One popular form of estate giving is called a residuary bequest through which the school receives the portion of the estate that remains (the residue) after other beneficiaries are provided for in the will. Another form of estate giving is a special bequest through which a specified sum or property or a specified percentage of your estate is given to OCS Endowment Fund.
The provisions in your will for making a gift to OCS will depend on the type of gift and your own circumstances. Perhaps these model provisions will be helpful to you and your attorney:
For an Unrestricted Bequest
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated) to be applied to the uses and purposes as the Board of Directors and Administration of Ouachita Christian School may direct.
For a Restricted Bequest
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated) to be used for__________ (specify the purpose).
For an Unrestricted Endowment Bequest
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated) to invested and preserved as a part of the permanent endowment funds of Ouachita Christian School. The income therefrom, but not the principal, shall be applied to the uses and purposes as the Board of Directors of the Foundation may direct.
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated) to invested and preserved as a part of the permanent endowment funds of Ouachita Christian School. The income therefrom, but not the principal, shall be applied to the uses and purposes as the Board of Directors of the Foundation may direct.
For Restricted Endowment Bequest
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated). The sum comprising this gift will be merged with the general investment assets of Ouachita Christian School, but the gift shall be entered in the Foundation's books as the __________ (name of fund), shall always be designated and shall be used for __________ (specify the purpose).
I hereby give, devise and bequeath to Ouachita Christian School, a non-profit corporation chartered under the laws of Louisiana, of Monroe, Louisiana, (the sum/percentage of _________) or (all the rest, residue and remainder of my real estate, real, personal and mixed, of whatever kind or nature and wherever situated). The sum comprising this gift will be merged with the general investment assets of Ouachita Christian School, but the gift shall be entered in the Foundation's books as the __________ (name of fund), shall always be designated and shall be used for __________ (specify the purpose).