Bequests and Legacies Clause Samples

Bequests and Legacies. Gifts, bequests, legacies and similar distributions to be paid in the future to FBC upon the occurrence of a future event or the satisfaction of a future condition (for example, the death of a person who has named FBC in his or her Will, or the termination of a trust for which FBC is a residuary beneficiary) may be designated by the donor for general ministry purposes or for specific purposes. Post-Merger, all such gifts, bequests, legacies and similar distributions shall be deemed both by FBC and by LHCC to be the property of LHCC as full successor in interest to FBC, and will be used by LHCC for the purposes designated by the donor, and otherwise in accordance with applicable law, unless a release, change, or waiver of designation occurs through proper legal action.