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Bequest

A charitable bequest is one of the easiest and most flexible ways you can leave a gift to Bideawee and make a lasting impact.

Charitable Bequest
Property
Donor's Family
Bideawee
Charity image

Benefits of a bequest

  • A bequest is generally a revocable gift, which means it can be changed or modified at any time.
  • You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes.
  • If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

How a bequest works

With the help of an attorney or utilizing our free will maker, you can include language in your will or trust specifying a gift to be made to Bideawee as part of your estate plan. This gift can be of cash, stocks, bonds, or real estate.

Types of Bequests

There are a number of ways you can make a bequest to Bideawee.

  • Specific Bequest - A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Bideawee.
  • Percentage Bequest - Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Bideawee.
  • Residual Bequest - A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Bideawee.
  • Contingent Bequest - A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Bideawee.

Bequest Language

Here is some basic bequest language you might consider.

  1. Specific Bequest

    If you are considering making an outright bequest to Bideawee, we recommend the following language:

    Bequest of a Specific Dollar Amount

    I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Bideawee, a nonprofit organization, Federal Tax ID #13-1655210, for Bideawee's general use and purpose.

    Bequest of Specific Personal Property

    I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Bideawee, a nonprofit organization, Federal Tax ID #13-1655210, for Bideawee's general use and purpose.

  2. Percentage Bequest

    If you are considering making a bequest of a percentage of your estate to Bideawee, we recommend the following language:

    I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Bideawee, a nonprofit organization, Federal Tax ID #13-1655210, for Bideawee's general use and purpose.

  3. Residual Bequest

    I hereby give, devise and bequeath to Bideawee, a nonprofit organization, Federal Tax ID #13-1655210, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Bideawee's general use and purpose.

  4. Contingent Bequest

    If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Bideawee, a nonprofit organization, Federal Tax ID #13-1655210, DESCRIPTION OF PROPERTY to be used for Bideawee's general use and purpose.

    Restricted Bequests

    If you are considering a bequest and would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

    If you are making a restricted bequest, we recommend that you include the following provision to give Bideawee flexibility should it no longer be possible for Bideawee to use your gift as you originally intended:

    If, in the judgment of the Board of Directors of Bideawee, it shall become impossible for Bideawee to use this bequest to accomplish the specific purposes of this bequest, Bideawee may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

Contact us

If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Bideawee as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.

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