Perhaps the simplest form of planned giving, the bequest is a provision in the Last Will and Testament that provides for a distribution from the estate of some property to an individual or organization. Bequests to a qualified charity are deductible for estate tax purposes, against the total value of the estate of the decedent. Bequests can include any type of property, including cash, real estate, stock or any tangible or intangible property. A bequest can also be included in a codicil to a Will that has already been executed.
SUMMARY FOR BEQUEST:
Document that creates: Will or codicil
Ultimate beneficiary? To benefit charities of choice
Lifetime beneficiary? Not applicable
nnual benefit: Not applicable