Perhaps the most common planned giving arrangement for the benefit of Faith Ministries is the will bequest. Charitable gifts made by will are 100% tax deductible. As with current gifts, bequests may be designated either as unrestricted, giving Faith the most flexibility, or restricted; that is, designated for a specific purpose. You also may want to make it easy and convenient to have a bequest included in your will. The language below shows how a bequest can very easily be included in your will.

You might find it helpful to select the "print" button on the top of your screen and print this page. You may feel free to give this page to your attorney. If he or she has any questions, please have them contact Arvid Olson at Faith Legacy Foundation (a 501c3 not-for-profit foundation).

Below are examples of simple bequest language - Please feel free to change the numbers or percentages as you desire.

1. Bequest of cash

"I bequeath the sum of $10,000 to the Faith Legacy Foundation."

2. Bequest of a percent of the estate

"I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to Faith Legacy Foundation."

3. Contingent Bequest

"If my brother [John Doe] survives me, I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to John Doe. If John Doe does not survive me, then I devise and bequeath 20% of my residuary estate, whether real or personal property and wherever located to Faith Legacy Foundation."


4. Unrestricted Bequest

If you wish to include an unrestricted bequest to Faith in your will, the following language is suggested:

"I give, devise, and bequeath to the Faith Legacy Foundation, Inc., Lafayette, IN______ percent of all the rest, residue, and remainder of my estate (or _______ dollars, property, securities, etc. described below) wheresoever located to be used for the benefit of Faith Ministries in such manner as the Pastor and Deacons thereof may direct."

5. Scholarship Bequests to Faith Christian School

If you wish to provide scholarships for Faith Christian School, here is suggested language for three options: 5a. Scholarships Based on Financial Need 5b. Scholarships Based on Academic Merit 5c. Scholarships With Neither Financial Need nor Academic Merit Specified

5a. Scholarships Based on Financial Need

“I give, devise and bequeath to The Faith Legacy Foundation, Inc., Lafayette, IN _____ percent (___%) of all the rest, residue and remainder of my estate (or ___________ dollars, property, securities, etc., described below) wheresoever located, to be used for the benefit of Faith Christian School to support student scholarships based on demonstrated financial need. The school’s administrators will select the recipients. In the event this purpose can no longer be carried out due to changing conditions or that such purpose is being met from other sources or is no longer necessary or desirable for the furtherance of the charitable and educational purposes of Faith Christian School at the time of the maturity of my estate or at any time thereafter, then I expressly authorize and empower the Administrator of Faith Christian School to utilize my bequest for any purpose that may be deemed proper in his/her discretion, keeping in mind, however, my above-described purpose. The endowment fund for the purpose of investment may be combined with other funds of Faith Legacy Foundation.”

5b. Scholarships Based on Academic Merit

“I give, devise and bequeath to The Faith Legacy Foundation, Inc., Lafayette, IN _____ percent (___%) of all the rest, residue and remainder of my estate (or ___________ dollars, property, securities, etc., described below) wheresoever located, to be used for the benefit of Faith Christian School to support student scholarships based on academic merit (merit specifications may be added here). The school’s administrators will select the recipients. In the event this purpose can no longer be carried out due to changing conditions or that such purpose is being met from other sources or is no longer necessary or desirable for the furtherance of the charitable and educational purposes of Faith Christian School at the time of the maturity of my estate or at any time thereafter, then I expressly authorize and empower the Administrator of Faith Christian School to utilize my bequest for any purpose that may be deemed proper in his/her discretion, keeping in mind, however, my above-described purpose. The endowment fund for the purpose of investment may be combined with other funds of Faith Legacy Foundation.”


5c. Scholarships With Neither Financial Need nor Academic Merit Specified

“I give, devise and bequeath to The Faith Legacy Foundation, Inc., Lafayette, IN _____ percent (___%) of all the rest, residue and remainder of my estate (or ___________ dollars, property, securities, etc., described below) wheresoever located, to be used for the benefit of Faith Christian School to support undergraduate scholarships. The scholarships will be administered in accordance with Faith Christian School policies. In the event this purpose can no longer be carried out due to changing conditions or that such purpose is being met from other sources or is no longer necessary or desirable for the furtherance of the charitable and educational purposes of Faith Christian School at the time of the maturity of my estate or at any time thereafter, then I expressly authorize and empower the Administrator of Faith Christian School to utilize my bequest for any purpose that may be deemed proper in his/her discretion, keeping in mind, however, my above-described purpose. The endowment fund for the purpose of investment may be combined with other funds of Faith Legacy Foundation.”

Need some advice? We encourage you to seek legal counsel as you prepare your estate. If we can be of assistance, please call Arvid Olson at (765) 448-1986 at Faith Legacy Foundation.