A will is one of the most important documents you will ever sign. Think about the things a will enables you to do:
Obtaining a will is as simple as 1-2-3.
We have received many bequests – gifts by will – from thoughtful people who considered it only fitting to provide us something from their estates. Their bequests were simply a continuation of the support they had provided all their lives. For these gifts we are profoundly grateful. And it is satisfying to point out that, in a well-planned will, the cost of a bequest to our future can be surprisingly modest.
Your bequest can be of a stated dollar amount, or you can leave a specific property. Some of our benefactors prefer to bequeath a certain percentage of the “residue” (the amount that remains after paying all inheritances, debts and costs). There are special arrangements by which your bequest can provide financial benefits to your family and later be used in our programs.
Great! We hope you keep it up to date. When the time comes to make a change, a simple codicil (amendment) often is all that is needed. If you are considering a codicil, or a whole new will, may we suggest one more satisfying change: a bequest to assist in our programs.
You don’t necessarily have to make or change a will to benefit worthwhile organizations at death. Virtually any financial arrangement that allows you to designate a death beneficiary can be adapted as a wonderful “bequest” to benefit future generations. For example:
Life Insurance – You can name us the beneficiary of your life insurance, or a co-beneficiary, or a contingent beneficiary. A better idea may be to transfer actual ownership of the policy to us, or buy a new policy for our benefit. Such a gift would entitle you to an income tax deduction and future premium payments would be tax deductible.
Financial Accounts – Most financial accounts can be made payable on death to a friend, relative or charitable organization.
Retirement Savings – IRAs, pensions, 401(k) plans and other retirement savings arrangements provide for death beneficiaries, which can include charitable organizations (a spouse’s consent may be necessary if the account owner is married). This type of gift can save estate taxes and also income taxes that would have been owed by a person who received the death benefits.
Note: U.S. savings bonds are a splendid selection for a charitable gift by will, but they cannot be left through a beneficiary designation. Such a bequest saves income taxes as well as federal estate taxes.
Revocable Living Trusts – All the gifts by will we have suggested also can be accomplished by friends who have revocable living trusts. Simply name us as one of the beneficiaries of your trust.
You do a wonderful service when you provide for our future in your will. Why not tell us about it? You can just clip and return the form below, or telephone our office.
We need to know of your plans so that we may make our own plans for the future and proceed with vital work. Naturally, we would also like to be able to express our gratitude to you now.