Bequests

Remembering the Theatre in your will benefits the institution in many ways–helping to support a captivating repertoire of classics, contemporary and new works, technology, artistic innovation, capital improvements, student matinees and, education and community engagement efforts. A bequest is one of the simplest ways to provide for Alley Theatre’s future and can take many forms.

You may arrange for the Theatre to receive:

• a specific dollar amount
• specified assets, such as securities, real estate, or tangible personal property
• all or a percentage of the remainder of your estate after all other obligations (a residuary bequest)
• a contingent bequest, making Alley Theatre the beneficiary only if a named beneficiary is unable to accept the bequest

You may make a bequest to Alley Theatre by preparing a new Will or adding a codicil to your present Will. An outright bequest to the Theatre is fully tax-deductible for estate-tax purposes.

How to Make a Bequest: Useful Language

The most useful bequest is an unrestricted bequest for the general purposes of the Theatre. This permits the Theatre to use your gift wherever it is most needed at the time.

Suggested language for making an unrestricted bequest: “I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Alley Theatre, 615 Texas Ave, Houston, Texas, for its general corporate purposes.”

Suggested language for a specific purpose: “I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Alley Theatre, 615 Texas Ave, Houston, Texas, to create an endowment fund which, subject to the Theatre’s endowment spending rule, is to be used for the following purpose: [state the purpose].”

Important Note: If you do specify a use for your bequest, the following language will ensure that your gift will always remain productive: “If at any time in the judgment of the Trustees of The Alley Theatre the designated use of this bequest is no longer practicable or appropriate, then the Trustees shall use the bequest to further the general purposes of the Theatre, giving consideration, where possible, to my special interest as described above.”