By including PEN American Center in your will, you can leave the legacy of literature and free expression to future generations.
Whatever your stage of life, and whatever your family and financial picture, there are flexible ways to plan a gift that works for you. PEN can help you with:
• Beneficiary Designations
• Life Insurance Designations
• Tax-free IRA Rollovers
In addition, charitable bequests to PEN American Center may be included in your will when it is written or revised. You may also add a bequest through a codicil, a separate document consisting of an amendment to an existing will. All charitable bequests are fully deductible from your gross estate.
Below are examples of various bequest techniques. You should consult an attorney to adapt this language to your individual circumstances as part of an overall estate plan.
A specific bequest is a gift of a particular dollar amount or a particular piece of property.
For example: I bequeath (dollar amount or description of property) to PEN American Center (or its successor).
A residuary bequest is a gift of all or part of the property remaining in your estate after debts, expenses, and specific bequests have been paid. When you use a percentage instead of a specific amount, your gift will stay relatively the same in proportion to your entire estate, regardless of unexpected increases or decreases in its value.
For example: I give, bequeath, and devise (all, or XX percent of) the rest, residue, and remainder of the property, both real and personal, wherever situated, which I may own or be entitled to at my death, to PEN American Center (or its successor).
A contingent bequest is a gift that takes effect only if the primary beneficiary or beneficiaries of the bequest predecease you.
For example: If neither my spouse nor any descendants of mine survive me, then I give, bequeath, and devise all the rest, residue, and remainder of the property, both real and personal, wherever situated, which I may own or be entitled to at my death, to PEN American Center (or its successor).
For assistance or more information, contact Senior Director of Development Deborah Wilson at [email protected] or (646) 779-4812.