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Your client can leave a bequest of a specific amount of cash,
a percentage of an estate, or the remainder of the estate
in a will or living trust and create a permanent legacy. There's
no limit on the amount that can be set aside from an estate.
Your client may make a gift of cash, securities, or other
property—and the estate will receive a tax deduction
in the amount of the charitable bequest. If a will has already
been drafted, a charitable bequest can be added with a simple
amendment or codicil.
Sample language
The following language in a will can create a charitable
bequest:
Unrestricted bequests: Provide income for the Jewish
community each year in perpetuity by making a general bequest:
I bequeath $_______ (or _____% of my residuary estate)
to The Jewish Community Foundation, Oakland, California
for its general purposes.
Federation Annual Campaign bequests: Create an endowment
to make yearly contributions in perpetuity to the Jewish Community
Federation's annual campaign:
I bequeath $_______ (or _____% of my residuary estate)
to The Jewish Community Foundation, Oakland, California
to be used to endow my Annual Campaign gift to the Jewish
Community Federation of the Greater East Bay, Oakland, California.
Special purposes: Support a specific agency or cause
of interest to you every year, in perpetuity, with a designated
bequest to establish an endowment fund:
I bequeath $________ (or ______% of my residuary estate)
to The Jewish Community Foundation, Oakland, California,
to be added to and administered as part of an endowment
fund to support ___________ (Jewish Family and Children's
Service, charitable needs in Israel, Jewish education, Reutlinger
Community for Jewish Living, etc.)
At a glance
- Established through a will or living trust
- May be made in any amount—no matter how small or
large
- Provides an estate tax deduction
- Provides permanent resources for organizations important
to your clients
More...
>>
Get a complete legal and tax overview of bequests and other
deferred gifts in GiftLaw Pro under "Chapter 3—Deferred
Gifts"
>> More bequest language
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