Charitable bequests from your will combine philanthropy and tax benefits. Bequests are gifts that are made as part of a will or trust. A bequest can be to a person, or it can be a charitable bequest to a nonprofit organization, trust or foundation. Anyone can make a bequest—in any amount—to an individual or charity.
How do I make a charitable bequest?
How (and Why) to Make a Charitable Bequest
- Choose an organization to receive your bequest. ...
- Decide what type of bequest you will give. ...
- Decide what you will give in your bequest. ...
- Add the bequest to your will and tell people about it. ...
- Pat yourself on the back while you think about the benefits of making a charitable bequest.
What is an example of a bequest?
A specific bequest is a gift of a particular dollar amount or a particular piece of property. For example: “I bequeath [dollar amount or description of property] to the Friends of the Prescott Public Library, a nonprofit corporation whose address is 215 E. Goodwin St., Prescott, Arizona, 86303.”
