Bequest Language

Printable Bequest Language

Percentage of Estate
“I hereby will, devise, and bequeath to St. John’s Preparatory School, a nonprofit educational institution located in Danvers, Massachusetts (“St. John’s Prep”), _______ percent (____________%) of the rest, residue, and remainder of my estate to be used for its general purposes.”

Specific Amount of Estate
“I hereby will, devise, and bequeath to St. John’s Preparatory School, a nonprofit educational institution located in Danvers, Massachusetts (“St. John’s Prep”), the sum of _______ dollars ($____________) to be used for its general purposes.”

Establishing an Endowed Scholarship Fund Through Your Estate (The minimum level at St. John’s Prep is $50,000.)

Percentage of Estate
“I hereby will, devise, and bequeath to St. John’s Preparatory School, a nonprofit educational institution located in Danvers, Massachusetts (“St. John’s Prep”), _______ percent (____________%) of the rest, residue, and remainder of my estate to be designated to its endowment in order to establish the ___________________ Endowed Scholarship Fund. Income from this fund shall be used to provide financial aid for deserving students at St. John’s Prep. This fund shall be administered by St. John’s Prep’s Financial Aid Committee or another committee of the professional staff at St. John’s Prep.
“In the event the estate proceeds received by St. John’s Prep are insufficient to fully endow the ___________________ Endowed Scholarship Fund, then said proceeds shall be expended according to the scholarship criteria, if any, as set forth herein until such time as proceeds are exhausted.

“If circumstances should at any time in the future make it impractical to continue administering the ________________ Endowed Scholarship Fund for the purposes designated, then St. John’s Prep may redesignate the purpose—provided that the terms adhere as closely as possible to my original intent.”

Specific Amount of Estate
“I hereby will, devise, and bequeath to St. John’s Preparatory School, a nonprofit educational institution located in Danvers, Massachusetts (“St. John’s Prep”), the sum of _____________ dollars ($___________) to be designated to its endowment in order to establish the _________________________ Endowed Scholarship Fund. Income from this fund shall be used to provide financial aid for deserving students at St. John’s Prep. This fund shall be administered by St. John’s Prep’s Financial Aid Committee or another committee of the professional staff at St. John’s Prep.

“In the event the estate proceeds received by St. John’s Prep are insufficient to fully endow the _____________________ Endowed Scholarship Fund, then said proceeds shall be expended according to the scholarship criteria, if any, as set forth herein until such time as proceeds are exhausted.

“If circumstances should at some time make it impractical to continue administering the ________________ Endowed Scholarship Fund for the purposes designated, then St. John’s Prep may redesignate the purpose—provided that the terms adhere as closely as possible to my original intent.”

Estate Gift to Contribute to an Existing Endowed Scholarship Fund
“I hereby will, devise, and bequeath to St. John’s Preparatory School, a nonprofit educational institution located in Danvers, Massachusetts (“St. John’s Prep”), ___________ percent (____________%) of the rest, residue, and remainder of my estate to be added to the ___________________ Endowed Scholarship Fund (established by a Memorandum of Understanding dated _______________), with financial aid to be awarded to deserving students pursuant to the provisions of said memorandum and amendments thereto, if any.”