TYPES OF BEQUESTS:

Cash Bequest
You may designate a specific sum of money be given to NYU Langone Medical Center in your will or trust. For example, “I give to NYU Langone Medical Center the sum of $50,000.”

Residuary Bequest
In your will or trust, you designate where the remainder of your estate will go after all other bequests, debts and taxes have been paid. You can designate NYU Langone Medical Center as beneficiary of all or a portion of your residual estate. For example, “I give to NYU Langone Medical Center 25% of my residuary estate.” This enables you to pass assets to charity after you have provided for loved ones.

Specific Bequest
You may designate that a specific item, such as personal property (real estate, artwork, jewelry, a collection of stamps or coins, etc.) or a certain stock be given to a beneficiary. For example, “I give to NYU Langone Medical Center my stock in XYZ Company” or “I give to NYU Langone Medical Center my art collection.”

Contingent Bequest
This is a bequest made on condition that a certain event must occur before distribution to the beneficiary. For example, you may designate NYU Langone Medical Center as a beneficiary if your spouse or other heir or legatee predeceases you. “I give the rest, residue and remainder to my spouse. If he/she predeceases me, then I give the rest, residue and remainder to NYU Langone Medical Center.”