There are several types of bequests:
- A bequest of money may be designated for a particular purpose or for general use
- A bequest may name a specific monetary amount or an item to be donated
- A residuary bequest allows one to donate what remains of the estate (or a percentage thereof) after all obligations are met
- A contingent bequest makes the National Gallery the benefactor only if the original beneficiary is unable to accept the bequest
The creation of a will is a private matter; however, anyone considering including a bequest to the Gallery in a will is welcome to contact the Gallery. We would be delighted to know of any such intentions, so that the donor may be recognized as a member of The Legacy Circle.
Bequests of art, as always, are subject to acceptance by the Board of Trustees.
Sample Bequest Language:
Suggested language for making a bequest for general use at the National Gallery of Art:
“I bequeath to the Trustees of the National Gallery of Art in Washington, DC___________ (state a dollar amount, percentage of estate or trust, or residual).”
Suggested language to designate a specific purpose for the bequest:
“I bequeath to the Trustees of the National Gallery of Art in Washington, DC___________ (state a dollar amount, percentage of estate or trust, or residual) for __________ (state specific purpose such as art acquisition, the special exhibition program, scholarly research, education, etc.).”
Important Note: If you do specify a use for your bequest, the following language will ensure that your gift will always remain productive: “If at any time in the judgment of the Trustees of the National Gallery of Art the designated use of this bequest is no longer practicable or appropriate, then the Trustees in their discretion shall use the bequest to further the general purposes of the National Gallery of Art, giving consideration, where possible, to my special interests as described above.”
We invite you to contact us with questions or comments about planned giving; we would welcome the opportunity to discuss these options further with you. We highly recommend that you also speak to a financial adviser.