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Making a bequest in your Will or Living Trust to Nalandabodhi is a generous way to support Nalandabodhi in the future and to establish a wisdom legacy for the next generation. Your bequest helps ensure that Nalandabodhi’s dharma programs will continue, that our teachers will have the support they need to continue sharing the dharma, and that Nalanda West (our international sangha home) will be maintained so that it can welcome both new and returning students.
The following information can help you and your professional advisors create a bequest arrangement that meets your goals. If you have any questions, please contact us at development@nalandabodhi.org and we would be happy to assist you.
If you are in the United States, you can quickly create a Will or Revocable Living Trust through the FreeWill platform (freewill.com). There is no charge for this service.
If you are outside the United States, or have a more complex estate, the following information can be shared with your financial advisor to assist you in making a bequest.
Common Types of Bequests
The following types of bequests may be included in your will or trust, or added via codicil (a document used to supplement or amend a will).
Specific Amount or Percentage Bequest — you may direct a specific dollar amount or a percentage of your estate to Nalandabodhi.
Residual Bequest — after all other specific bequests and expenses are fulfilled, you can direct the remainder (or a percentage) to Nalandabodhi.
Contingent Bequest — You can make Nalandabodhi a beneficiary of your estate in the event that your primary beneficiaries do not survive you.
Sample Language for Your Will or Living Trust
If you would like to identify Nalandabodhi as a beneficiary in your Will or Trust, the following language may be useful to you and your advisors.
“I give and bequeath to Nalandabodhi, a non-profit corporation in Washington state (tax-exempt ID: 91-1803978), located at 3902 Woodland Park Avenue North, Seattle, WA 98103 U.S.A., the sum of $_____ (or _____% of my estate or the property herein) for its general charitable purposes (or specify a specific program, for example: the One Heart Mandala Fund; the Lamas & Mitras Fund; or the Nalanda West maintenance fund).
If you make a restricted gift for a specific purpose, it is advisable to include a clause so that your gift can continue to be useful to Nalandabodhi if conditions change. May we suggest the following language:
“If at some future time, in the judgment of the Board of Directors of Nalandabodhi, it is no longer practicable to use the principal of the bequest for the purposes intended, the Board of Directors has the right to use the income or principal for whatever purpose most closely accords with the intent described herein.”
And finally, if you plan to create a wisdom legacy by naming Nalandabodhi as a beneficiary in your estate plans, please let us know (you can email us at development@nalandabodhi.org). We would like to acknowledge your generous intention and welcome you into the Noble Heart Circle, a community of like minded people who wish to ensure Nalandabodhi continues to serve students and Buddhist practitioners now and in the future.
