There are several Types of bequests that allow you to designate how your estate will be distributed.

Specific Bequest:
You describe exactly what you want to leave to a specific individual or organization and the designated source. If you want to leave a specific dollar amount from a specific source or a particular item (such as an antique or collector's item), this is the type of bequest that you would use.

Example: Kathryn states in her will: "I leave my diamond engagement ring to my granddaughter, Sarah. I also leave my securities to The Nature Conservancy."

General Bequest:
This type of bequest does not specify the source from which it should be paid. This gives your executor the flexibility to honor the bequest from any available source.

Example: Kathryn states in her will: "I leave $50,000 to my son, William."

Residuary Bequest:
This type of bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid.

Example: Kathryn states in her will: "I give all the rest, residue and remainder of my real and personal estate to The Nature Conservancy."

Contingent Bequest:
This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.

Example: Kathryn states in her will: "I give all the rest, residue and remainder of my real and personal estate to my husband, John, if he survives me; if not, then 50 percent in equal shares to my children who survive me and 50 percent to The Nature Conservancy."

Leaving a Lasting Legacy

By notifying the Conservancy of their generous bequest commitment, Val and Sheri Schnabl joined more than 16,000 Conservancy supporters in The Legacy Club. The Schnabls cite the Conservancy’s “workable approach” as a reason for choosing the Conservancy.