Suggested Bequest Language
Naming Texas Medical Association Foundation as a beneficiary in your estate plan is a simple and lasting way to acknowledge the TMAF role in your life.
A bequest to TMA Foundation can be included in the body of your will or in an addition to it (a codicil). To name TMAF as a beneficiary, please use this language: Texas Medical Association Foundation, Austin, Texas. You may designate your bequest for a specific purpose and may be made in the following ways:
- Residuary Bequest-You may state that all or a portion of your estate be given to TMAF after specific amounts are distributed to other beneficiaries.
- Specific Bequest-You may stipulate that a certain percentage of your estate, or a certain dollar amount, or particular securities or other assets be given to TMAF.
- Testamentary Charitable Trust-You may establish a unitrust or annuity trust for specific beneficiaries through your will. The trust principal is transferred to TMAF only after the death of the last trust beneficiary.
Sample Bequest Language
The provisions in your will for making a gift to TMAF will depend upon the type of gift and your own circumstances. The following are types of sample language that you and your attorney might find helpful when making a provision for TMAF.
The Unrestricted Gift
"I give to TMAF, Austin, Texas, the sum of $_________ (or _____ percent of my estate; or the property described herein) for its general purposes."
The Restricted Gift
"I give to TMAF, Austin, Texas, the sum of $_________ (or _____ percent of my estate; or the property described herein) for the use and benefit of the (insert preferred designation here). If at some future time the gift cannot be strictly used as set forth above, it is understood that the officers of TMAF may direct that the gift be used to meet the highest priorities of the Foundation."
"All the rest, residue, and remainder of my estate, both real and personal, I give to TMAF at Austin, Texas, for its general purposes (or describe the specific purpose, if desired)."
"I devise and bequeath the residue of the property owned by me at my death, real and personal, and wherever situate, to my husband (or wife), ______________, if he (or she) survives me. If my husband (or wife) does not survive me, I devise and bequeath my residuary estate to TMAF Austin, Texas, for its general purposes (or describe the specific purpose, if desired)."
All prospective gifts are reviewed in accordance with TMA Foundation gift acceptance policies.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.