Writing Himalayan Institute into your last will and testament or naming Himalayan Institute as a beneficiary is an easy way to give to the mission of the Institute without affecting your current financial situation. The following language can be included in your bequest or beneficiary designation in order to benefit Himalayan Institute:
To Bequest Your Assets to Himalayan Institute
- For residual gifts – those that come after estate expenses and specific bequests are paid:
“I give and devise to Himalayan Institute, located in Honesdale, PA, [all (or state a percentage)] of the rest, residue and remainder of my estate, both real and personal, to be used for [its general support (or for the support of a specific fund or program)].”
- For specific gifts – those that designate bequest of a particular amount of money:
“I give and devise to Himalayan Institute, located in Honesdale, PA, [the sum of $__] to be used for [its general support (or for the support of a specific fund or program)].”
- For naming Himalayan Institute as a contingent beneficiary – one that gains if specific bequests cannot be fulfilled:
“If [other beneficiary] is not living at the time of my demise, I give and devise to Himalayan Institute, located in Honesdale, PA, the sum of [$__ (all or a percentage of the residue of my estate)] to be used for its [general support (or for the support of a specific fund or program)].”
Please note that Himalayan Institute welcomes bequests of cash and cash-like instruments (e.g., appreciated securities, closely-held stock). However, our Gift Acceptance Policy limits acceptance of gifts of real estate and personal property and considers these gifts on a case-by-case basis. If you are considering bequeathing Himalayan Institute a non-cash gift, please review our policies on accepting real estate and personal property.
To Name Himalayan Institute as a Retirement or Life Insurance Beneficiary
- For use on retirement account beneficiary designation forms (e.g., IRA, 401(k), QRP):
“I designate that upon my death (or the death of my spouse), [$__ (or ___%)] of my IRA account be distributed to the Himalayan Institute, a non-profit organization in Honesdale, PA. Funds distributed from my IRA shall be used for [its general support (or for the support of a specific fund or program)].”
- For use on life insurance beneficiary designation forms:
“I hereby name Himalayan Institute as the beneficiary of my [name of insurance company], [Policy # ______] with a face value of [$__]. I designate that upon my death, the proceeds will be distributed to Himalayan Institute. This gift shall be for the further benefit of the Institute. Funds distributed from this life insurance policy shall be used for [its general support (or for the support of a specific fund or program)].”
Whether you are considering a bequest or want to designate Himalayan Institute as a beneficiary, we are happy to hear of your intent and to provide all the assistance we can. Further, being informed of your intent to give helps us keep track of our status against fundraising goals. Thus, please do not hesitate to contact Greg Capitolo at 570-647-1516 to inform us of your bequest and to request any assistance you may need.
As with any decision involving your assets, we urge you to seek the advice of professional counsel when considering a gift to the Himalayan Institute.