Charitable Bequests: A Gift in Your Will
A popular and enduring planned gift is a simple charitable bequest, which is a gift made through your will. Bequests are popular because they give you the opportunity to leave a lasting legacy. When you make a charitable bequest, you retain full use of your property during life, so there is no disruption of your lifestyle and no immediate out-of-pocket cost.
To make a bequest, simply direct that part of your estate passes directly to your favorite charities. Since a charitable bequest can take many forms, you have remarkable flexibility in how you make this designation. For example, you can leave...
- a specific asset
- a specific sum of money
- a percentage of your estate
- what remains of your estate after you have provided for all of your other beneficiaries.
You can also designate exactly how you want your bequest to be put to use. Or, you can provide an unrestricted bequest that can be used whenever and wherever it's needed most. Most importantly, you can change your bequest whenever you choose, which means you remain in complete control of the planning process.