You can include Phelps in your estate plans by including us as a beneficiary of your estate, otherwise known as a bequest. This can be added as a codicil to an existing will, or included when you decide to create one. There are several types of bequests:
Specific Bequest: for designated dollar amount or other property (real estate, art, etc.)
Percentage Bequest: for giving a set percentage of the estate (i.e. 5%). This ensures that the charity will benefit from growth in the estate during the donor’s life
Residual Bequest: for assets that remain after all other bequests, death taxes, and other expenses. This is also affected by any change in the estate’s value over time.
Contingent Bequest: for giving property only when the primary beneficiaries predecease the donor or refuse their bequest
To make a bequest to Phelps, please consult with your attorney to make sure that your wishes are reflected in your will. Here are some examples of the language for including Phelps in your estate plans. Please be sure to use the legal name of our organization as included in these samples.
I, [name] of [city, state] give, devise and bequeath to Phelps Memorial Hospital Association, located at 701 North Broadway in Sleepy Hollow, NY, $XXX,XXX [or % or description of asset] to be used to support its general purposes.
Bequest for Specific Purpose:
I, [name] of [city, state], give, devise and bequeath to Phelps Memorial Hospital Association, located at 701 North Broadway in Sleepy Hollow, NY, rest, residue, and remainder of my estate to be used the activities of the hospice program.
You may also include Phelps as a beneficiary using Tax ID #13-1725076.