Gift planning helps you preserve your assets and guarantee they are used according to your wishes while providing security to your loved ones and fulfilling your charitable objectives.
Express your gratitude for the care you or a loved one received at Cleveland Clinic by including Cleveland Clinic in your charitable estate plans. By supporting Cleveland Clinic, you are contributing toward innovative research, educational programs and advanced patient care for generations.
Consider including Cleveland Clinic in your will by establishing one of the following bequests:
Specific bequest designates that Cleveland Clinic receive a specific piece of property.
- Example: "I bequeath to The Cleveland Clinic Foundation, Cleveland, Ohio, all of my shares in XYZ Mutual Fund to be used for its exempt purposes."
General bequest designates thatCleveland Clinic receive a specified dollar amount.
- Example: "I bequeath to The Cleveland Clinic Foundation, Cleveland, Ohio, the sum of $100,000 to be used for its exempt purposes."
Residual bequest designates that all or a portion of your estate comes to Cleveland Clinic after all debts, taxes, expenses and other bequests have been paid.
- Example: "I bequeath to The Cleveland Clinic Foundation, Cleveland, Ohio, 50 percent of the rest, residue and remainder of my estate to be used for its exempt purposes."
Contingent bequest takes effect only if the primary intention cannot be met. This ensures that property will pass to Cleveland Clinic rather than unintended beneficiaries, including the government.
- Example: "If (name of primary beneficiary) does not survive me, then I bequeath to The Cleveland Clinic Foundation, Cleveland, Ohio, all the rest, residue and remainder of my estate to be used for its exempt purposes."
Bequest Designations
The two primary bequest designations are unrestricted and restricted.
- Unrestricted: The most useful type of bequest is unrestricted (i.e., designated for exempt purposes), allowing the funds to be allocated by Cleveland Clinic wherever the need is greatest. An unrestricted gift helps Cleveland Clinic continue world-class care for patients, pioneering medical research and training of the next generation of physicians.
- Restricted: People also may designate their bequest to support a special program or purpose that reflects their personal or professional interest within the Cleveland Clinic health system, including Cleveland Clinic in Florida).
To learn more about the benefits of a life-income gift to Cleveland Clinic, please call 216.444.1245 and ask to speak with a member of our gift planning team, or email giftplanning@ccf.org.
