Of all the gifts you could consider, the most meaningful, and the easiest gift to make, is a charitable bequest. A charitable bequest is a gift you pass to a person or entity through your will or trust.
Bequests are unique in that they enjoy unlimited deductions from federal and most state inheritance taxes. Leveraging this benefit can allow you to include Dr. Susan Love Research Foundation, as well as your family and friends, in your estate. Some of the ways to make a charitable bequest are, as follows:
- Specific bequest: This kind of bequest specifies an exact dollar amount or specific asset from your estate, such as shares of stock, an insurance policy, IRA Rollover, or other retirement account(s).
- Residuary bequest: This bequest directs that either all or a percentage of your estate’s residue be paid to the beneficiary--what’s left after the other terms of your will have been satisfied.
- Percentage bequest: A bequest may be expressed as a percentage of your estate. Expressed in this way, your charitable intent is guaranteed regardless of whether your estate grows larger or smaller.
- Restricted bequest: You may wish to restrict your bequests for a specific purpose or to support specific research such as, the Dr. Susan Love Visionary Fund.
Regardless of which option you choose, it is possible to leave a portion of your estate to your loved ones, and a portion to Dr. Susan Love Research Foundation to achieve a future without breast cancer. For more information on making a charitable bequest or other estates gifts, please contact the Director of Development, Michelle Woodhill at 310-828-0060 ext 159.
The information provided in this article is not intended as legal advice. For legal advice, please consult your attorney.