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What is a bequest?

What is a bequest?

Choosing to make a bequest to the Institute is to ensure the continuity of the transmission of the Dharma in France and to secure our association in the major projects it must carry out for future generations.

Bequeathing means deciding what will happen to your property after your death. This will is expressed in a will. A bequest is a profound and generous gesture: through it, the values and commitments that gave meaning to a life are perpetuated beyond death. A bequest requires a will, which takes effect upon the death of the testator. Until death, the will may be revoked, changed or supplemented by another codicil at any time.

A hand writing a will

Types of bequests

Types of bequests

Bequest to a foundation or association

You are free to transmit :

  • Real estate: apartments, houses, land, farms, commercial premises, free or occupied
  • Movable property: furniture, works of art, jewelry, money, bank assets, stock or bond portfolios, corporate rights or copyrights…

However, you must respect the share of the heirs who have a right to inherit: if you have direct heirs (spouses, ascendants, children, grandchildren), the law requires you to bequeath them a specific portion of your property. It is impossible to disinherit them.

You may therefore decide to bequeath to InstitutVajra Yogini for the Fulfillment of Wisdom, freely and without concern, the “available portion” of your estate.

There are 3 types of bequest:

  • The universal bequest: to transmit all of your assets – without distinction between movable and immovable property.
  • The universal bequest: to transmit a part (half, a third, 20%, 30%…) or a category only of your goods (all your movable goods / all your real estate)
  • The bequest by particular title: to transmit one or more specifically designated assets, regardless of their nature.

How to make a bequest

How to make a bequest

Even if a holographic will is valid (on a simple sheet of paper, dated and signed, you write your personal dispositions by hand), it is strongly advised to prepare an authentic will in advance:

  • You express your wishes to a notary in the presence of another notary or two independent witnesses. The notary translates your wishes into legal terms and reads them to you. In case of agreement you sign. This will offers a greater legal guarantee.

  • Indicate your complete civil status: first name, last name, precise date and place of birth, address.

  • Specify at the beginning of the deed: “This is my will which revokes all previous dispositions…”

  • Stipulate the name of our association: Institut Vajra Yogini pour l’Epanouissement de la Sagesse.

  • Number and initial each page of the document.

  • Date and sign at the finder of the document.

Thank you