“The basic message of Shambhala teachings is that the best of human life can be realized under ordinary circumstances. That is the basic wisdom of Shambhala:
that in this world, as it is we can find a good and meaningful human life
that will also serve others. That is our true richness.”
— Druk Sakyong Chogyam Trungpa Dorje Dradul —
The process of leaving a bequest can be a journey of deep contemplation of our life and path as a dharma practitioner. It invites us to reflect on our aspiration for the future and how we can share our good fortune of richness and wealth to benefit others. Your gift to the Sakyong Lineage represents your deep heart connection to the lineage, lineage holder and future lineage holders. It is a testament of your appreciation and commitment to support the establishment and continuation of the Sakyong Lineage, preservation and protection of the teachings, and to benefit many beings now and in the future.
WHAT IS A BEQUEST
The most meaningful gifts come from your heartfelt aspiration and longing to give. A bequest is a specific gift in your will or trust that is designated to a family member or friend, an organization, or a charitable entity such as the Sakyong Potrang. Anyone can make a bequest and it can be any amount. Your bequest can be a simple statement in your will naming the person or entity you are gifting to with a specific amount, or it can be complex with clauses on how the gift can be used and distributed. Any gift amount you offer is deeply appreciated.
THE IMPORTANCE OF HAVING A WILL
Having a will helps ensure that you, rather than your country or state’s laws, decide who will receive your assets and how your property gets distributed according to your wishes and intention. In some locations, laws can irrefutably dictate what happens to your assets if you do not have a will. As you plan your future legacy to support family and loved ones as well as charitable causes that are important to you, please consider including the Sakyong Potrang as part of your will.
Jane Vosper is your point of contact and can help answer any questions you might have. Please contact her at firstname.lastname@example.org.
TYPES OF BEQUESTS
Bequests can be made with almost anything: cash, stocks, bonds, mutual funds, retirement pensions, real estate—as well as artwork and royalties. There are several ways to include the Sakyong Potrang in your will. These include but are not limited to:
The Potrang receives a specific dollar amount.
Bequest of Property
The Potrang receives specific assets, such as securities, an interest in real estate (e.g., a residence or rental property), or tangible personal property (e.g., works of art, antiques)
You can designate a specific percentage of your overall estate to go to the Potrang.
After the payment of any specific bequests to your family members, friends or other entities and all estate-related expenses, the Potrang receives a designated percentage of the remainder of the estate.
The Potrang is designated as a beneficiary of a percentage of the your life insurance, remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension, or profit-sharing plan.
A testamentary trust provides income to one or more heirs for life, after which the assets pass on to the charity such as the Potrang. A provision in the will appoints a trustee to manage the assets and is often used when the beneficiary or beneficiaries are children or disabled people.
SAMPLE LANGUAGE FOR YOUR WILL
Your gift may be a specific dollar amount, a percentage of your estate or the remainder after all other provisions are specified. Below is suggested language to take to your attorney for use in drafting your bequest.
For an unrestricted gift that allows the Sakyong Potrang to determine how to use the funds based on the most pressing needs, use the following language for your will and/or trust:
- “I give to the Sakyong Potrang, a Colorado nonprofit corporation, or its successor thereto, _________ [written amount or percentage of the estate or description of property] for its unrestricted charitable use and purpose.”
To designate your provision for a particular purpose:
- “I give to the Sakyong Potrang, a Colorado nonprofit corporation, or its successor thereto, _________ [written amount or percentage of the estate or description of property]. This gift should be used for (e.g. Lady Sharon Hoagland Endowment Fund) if and so long as the Sakyong Potrang determines that the need exists. If the Sakyong Potrang shall determine at the outset or at a later time that the need does not exist, or no longer exists or for some reason it is not possible (or prudent) to administer my gift as originally intended, then Sakong Potrang may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”