Planned Giving: Bequests

A bequest is a gift by will or revocable living trust. This is an excellent choice if you want to support The Scripps Research Institute in the future, but wish to maintain liquidity and use of your assets during your lifetime. A bequest is flexible; you can adjust the terms of your gift after it is established. The full amount of your gift is deductible from your taxable estate.

The three most common bequests are specific, general, and residuary. In a specific bequest, you name a particular item such as a piece of real estate or a block of securities that you wish to give. In a general bequest, you name the dollar amount you want to give. In a residuary bequest, you give the Institute a percentage of your estate after all specific and general bequests have been met. All bequests are fulfilled only after debts, taxes, and estate expenses have been paid.

A bequest can be unrestricted, enabling Scripps Research to direct your funds where future need is greatest, or restricted for a particular program or purpose at the institute.

Donor Spotlight — Marjorie Fink

The following language may be helpful:

Example of unrestricted bequest language:
I give (insert dollar amount, property to be given, percentage of the estate, or "the remainder of my estate") to The Scripps Research Institute, a nonprofit corporation, tax identification number 33-0435954, headquartered at 10550 North Torrey Pines Road, La Jolla, California, 92037, for its general use and purposes.

Example of restricted bequest language:
I give (insert dollar amount, property to be given, percentage of the estate, or "the remainder of my estate") to The Scripps Research Institute, a nonprofit corporation, tax identification number 33-0435954, headquartered at 10550 North Torrey Pines Road, La Jolla, California, 92037, to support (insert designation or purpose) at The Scripps Research Institute.

You may wish to direct your bequest gift to an endowed fund which will last in perpetuity. If your gift is $50,000 or greater, you have the option to establish your own endowed fund which can hold your name or the name of a loved one. If your gift is less than $50,000, you can supplement an existing endowed fund. In endowed funds, the principal is held in perpetuity, with part of the annual earnings generating ongoing support for programs designated by the donor.

For more information about bequests, please contact Steve Abramson, Sr. Gift Officer/Planned Giving, at (858) 784-9365 or stevea@scripps.edu.