A CASH BEQUEST: A gift of a specific amount of money.
"I give the sum of "X" dollars to the Society for Christian Education in Southern Alberta to be used for such general purposes as the Board of Directors, in their discretion, deem advisable."
A SPECIFIC BEQUEST: A gift of a specific asset or assets such as a bank account, shares of stock or a piece of real estate.
"I give the Society for Christian Education in Southern Alberta "X" shares of "XYZ" stock."
A RESIDUAL BEQUEST: A gift of all or part of the residue of your estate, the residue being the balance of your estate that remains once the outstanding debts, bill, taxes, administration expenses, legacies and other bequests have been paid. When the value of the residue has been determined, it may then be divided into shares or percentages, to be distributed in accordance with the instructions contained in your will.
"I give "X" shares of the residue of my estate to the Society for Christian Education in Southern Alberta" or "I give X% of the residue of my estate to the Society for Christian Education in Southern Alberta."
A CONTINGENT BEQUEST: A gift that only takes effect if certain conditions occur. This form of bequest is most often used to transfer all or part of the residue of your estate if there are no surviving family members as beneficiaries.
"In the event that my said wife/husband shall not survive me, I give the residue of my estate to the Society for Christian Education in Southern Alberta."