General Bequest
General bequests are legacies left to certain people or causes that come from the general value of the estate. Your executors will be given the flexibility to decide from which source the funds are to be paid.
Sample wordings:
"I give the sum of HK$______, free of all taxes and duties, to Project Orbis International, Inc. of Unit A on 3/F and Units A, C and F on 5/F of Infotech Centre, 21 Hung To Road, Kwun Tong, Kowloon for its general charitable purposes. I direct that the official receipt from the said charity shall be sufficient discharge to my executors and that the said gift shall be paid exclusively from my Hong Kong situated estate."
Specific Bequest
A specific bequest is a gift (bequest) or a specific item or asset to a named person or entity. You may wish to leave Orbis or other charities a percentage of your life insurance policy, as an example of charitable bequests.
Sample wordings:
"I give the sum of HK$_______, free of all taxes and duties, to Project Orbis International, Inc. of Unit A on 3/F and Units A, C and F on 5/F of Infotech Centre, 21 Hung To Road, Kwun Tong, Kowloon for its general charitable purposes to be paid from my life insurance policy (Ref No. _______________). I direct that the official receipt from the said charity shall be sufficient discharge to my executors."
Residuary Bequest
Residuary bequests are honoured after all other bequests to families have been made and all expenses and taxes have been paid from your estate.
Sample wordings:
"I give ___ percent of the residue of my estate absolutely to Project Orbis International, Inc of Unit A on 3/F and Units A, C and F on 5/F of Infotech Centre, 21 Hung To Road, Kwun Tong, Kowloon for its general charitable purposes. I direct that the official receipt from the said charity shall be sufficient discharge to my executors."
Contingent Bequest
Contingent bequest is a gift that takes effect only if certain conditions are met. For example, if the primary beneficiary or beneficiaries of the bequest predecease you, and you may wish to indicate your next choice through a contingency designation.
Sample wordings:
"I give all the rest residue and remainder of my estate to ___________, if he or she survives me. If not, I give HK$_________, free of all taxes and duties, to Project Orbis International, Inc of Unit A on 3/F and Units A, C and F on 5/F of Infotech Centre, 21 Hung To Road, Kwun Tong, Kowloon for its general charitable purposes and I give the remainder of my estate to __________. I direct that the official receipt from the said charity shall be sufficient discharge to my executors."
