Bequests & Estate Planning
A charitable bequest is one of the easiest, most common and most flexible ways that you can leave a gift to Boys & Girls Clubs of Mercer County that will make a lasting impact.
Benefits of a Bequest
• Receive an estate tax charitable deduction
• Reduce the burden of taxes on your family is your gift to the charity is an appreciated asset such as IRA, Stock or property.
• Leave a lasting legacy to charity
How a Bequest Works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Boys & Girls Clubs of Mercer County as part of your estate plan, or you can make a bequest using a beneficiary designation form available through your IRA or your financial advisor.
Here are some of the ways to leave a bequest to Boys & Girls Clubs of Mercer County
• Include a bequest to Boys & Girls Clubs of Mercer County in your will.
• Designate Boys & Girls Clubs of Mercer County as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
• Name Boys & Girls Clubs of Mercer County as a beneficiary of your life insurance policy.
A bequest may be made in several ways
• Percentage bequest - make a gift of a percentage of your estate
• Specific bequest - make a gift of a specific dollar amount or a specific asset
• Residual bequest - make a gift from the balance or residue of your estate
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Boys & Girls Clubs of Mercer County in your estate plan.
You can also use Freewill.com to draft and complete a free will on line. This will give you immediate peace of mind, and you can then update your will with a professional at a later time.
We have provided some basic bequest language to assist you and your attorney. Click here
The method used to make a bequest will depend on the kind of gift you choose to leave to Boys & Girls Clubs of Mercer County. Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest. Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Boys & Girls Clubs of Mercer County. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.
Please contact David Anderson at firstname.lastname@example.org if you have any questions about how to make a bequest to Boys & Girls Clubs of Mercer County or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for Boys & Girls Clubs of Mercer County in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
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