A Bequest is a gift to the Foundation made through your will or trust. This could be a specific asset, specific amount, a percent of the residue, or undivided percentage of asset bequests.
What's the Need?
- You want to make a gift to the Foundation but are unable to do so in your lifetime. For example, you may have property that will be needed during life to cover living expenses or rising health care costs.
- You want to set aside a property or an amount or percentage of an estate to make a gift to the Foundation.
What's the Solution?
- You can retain ownership and use your property during your life while also making a long-term impact that will benefit the community by leaving the Foundation a specific amount, property, or percentage of an estate.
- Gift to the Foundation
- The Foundation receives cash or property.
- Tax Deduction
- The amount given to the Foundation is not subject to federal estate tax.
- You can use and control your property during your lifetime.
- Bequests are one of the easiest and most popular gift plans. They can be included in a new will; or added to an existing will or trust, even without having to hire a lawyer.