A Simple Gift with Big Impact

Learn how charitable bequests can help you leave a legacy

Leaving a bequest in a will or trust is a simple way to make a charitable gift that can have a huge impact.  By leaving something behind in your estate plan, you make sure that you and your family leave a legacy that benefits the charitable organization(s) that were important to you during your lifetime.

A charitable bequest is simply a distribution from your estate to a charitable organization through your last will and testament, or a trust.  There are different kinds of bequests and, for each one, you must use specific language to indicate the direction of your assets.

Everyone has an estate, even if it is modest.  Your estate is the sum of all of your assets, including any property you own, insurance policies, retirement accounts, cash on hand, or more.  And, when it comes to philanthropy, no gift is too small.

Below are some of the most common types of bequests.  It is best to get the specific wording from the charitable organization itself, and then to have an attorney draft the provisions.  Be sure that you properly identify the charity and the area that you want to benefit.

  • General Bequest – Legacy donations that come from the general value of the estate and are made by designating a specific dollar amount, a particular asset or a fixed percentage
  • Specific Bequest – Legacy donations made from a particular piece of property in the estate (such as a piece of art)
  • Residuary Bequest – Legacy donations made when you leave the remainder of your estate to a charity after all other terms have been satisfied
  • Contingent Bequest – Legacy donations made from your estate that happen only if a named beneficiary does not survive you

If the idea of making a charitable bequest to Sun Health Foundation is appealing, or you would like to learn more about various ways to give that do not require cash, please contact us at 623-832-5330 or visit  http://sunhealthfoundation.planningyourlegacy.org/.

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