An easy way to leave a planned gift to the Lighthouse is through a bequest (a gift) in your will. To leave a bequest, you simply direct your will that certain money or property be transferred to the Lighthouse upon your death.

A bequest can take various forms:

• A specific bequest is the simplest and most familiar way to make a bequest to the Chicago Lighthouse in your estate plan. A specific bequest states that the Chicago Lighthouse will receive a designated sum or specific asset (for example, real estate, securities, or other property) from your estate.
• A percentage or residual bequest ensures that the Chicago Lighthouse will receive a fixed share of your estate after taxes, expenses, debts and other specific bequests have been paid. Percentage and residual bequests lessen the impact of inflation on your intended gift to the Lighthouse. They ensure that the proportion of your estate which you are leaving to the Lighthouse is constant, regardless of inflation.
• A contingent bequest is a bequest which is contingent on the occurrence of a condition you designate in your estate plan. For example, you could designate the Chicago Lighthouse as the beneficiary of all or a portion of your estate if all other beneficiaries named in your will predecease (die before) you. You can work with your attorney to draft a contingent bequest that best expresses your wishes.

Recommended language for a Bequest to the Chicago Lighthouse

The examples below can be helpful if you are considering a bequest to the Chicago Lighthouse. You may wish to provide this suggested language to your attorney when creating or updating your estate plan.

A Specific Bequest

I give (insert dollar amount or specific description of property or asset) to the Chicago Lighthouse for People Who Are Blind or Visually Impaired, 1850 West Roosevelt Road, Chicago, Illinois 60608, or its lawful successor.

A Percentage Bequest

I give % of my estate to the Chicago Lighthouse for People Who Are Blind or Visually Impaired, 1850 West Roosevelt Road, Chicago, Illinois 60608, or its lawful successor.

A Residual Bequest

I give the residue of my estate to the Chicago Lighthouse for People Who Are Blind or Visually Impaired, 1850 West Roosevelt Road, Chicago, Illinois 60608, or its lawful successor.

We are happy to answer your questions about planned gifts. Feel free to contact our Director of Development, Jennifer E. Miller, at (312) 997-3643, or by email at jennifer.miller@chicagolighthouse.org.

Please note that these examples are samples only and not intended as legal advice. We recommend you consult with your attorney when reviewing or drafting your estate plans.