Bequests

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. 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

Revocable?                            Yes

Ultimate beneficiary?              To benefit charities of choice

Lifetime beneficiary?               Not applicable

Annual benefit:                         Not applicable


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