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Advantages of Bequests

Your attorney can help you structure a bequest that fulfills your wishes and meets your loved ones’ financial needs. This can be done by drafting a new will or living trust, or by adding a codicil (amendment) to your existing documents. Through a bequest, you can make a substantial gift to further your support for peace, without depleting current assets. Other advantages include:

  • Simplicity. A few sentences are all that is needed to complete your gift.
  • Flexibility. Until your will or trust goes into effect, you can revise your plans.
  • Versatility. You can bequeath a specific amount, a gift contingent upon certain events, or a percentage of your estate.
  • Tax Benefits. Your estate is entitled to an unlimited estate tax charitable deduction for gifts to qualified charitable organizations like the Nuclear Age Peace Foundation.

Four Simple Steps to Leave a Bequest

  1. Determine whether you’d like to make a gift of a specific asset, such as a certain amount of cash, securities or property, or if you’d like to leave a percentage of your estate.
  2. Decide if you want to direct your gift to help a particular project or leave your gift unrestricted, allowing it to be used where needed most.
  3. Meet with your attorney to include your gift in your will or revocable living trust.
  4. Share your intentions with us so we can honor your wishes.  We are also happy to respect your wishes regarding anonymity.

Language for a Bequest

A popular bequest option is to leave a percentage of your estate, so your gift will remain proportionate to the size of your estate, no matter how it fluctuates.  The following are two main methods for leaving a bequest in your will or trust.

1. Specific Bequest Language: This is an outright gift of a specific amount from your estate.  Please check with us if you want to restrict your bequest to a specific program or purpose to assure we can use it exactly as you intend.

I hereby give to the Nuclear Age Peace Foundation, a nonprofit California corporation headquartered in Santa Barbara, California, the sum of $________ (or_______% of the estate or description of property) to be used for its general support (or for the support of a specific program).

2. Residual Bequest Language: This is an outright gift of the remainder of your estate after all other specific bequests, debts and taxes have been paid.

I hereby give to the Nuclear Age Peace Foundation, a nonprofit California corporation headquartered in Santa Barbara, California, all (or _______%) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support(or for the support of a specific program).

 

Notice:
An attorney’s professional training is required for the preparation of wills and trusts. These examples are offered as a public service to provide accurate information of a general nature only, and is not intended as legal advice. Please consult with an attorney.  References to estate and income taxes include federal taxes only.  State income/estate taxes or state law may impact your results.

Donations are tax-deductible to the full extent of the law. The Nuclear Age Peace Foundation is a 501(c)(3) not-for-profit, tax-exempt California  corporation. Federal Tax ID # 95-3825265.