Your Lasting Legacy
Some people go their entire lives wondering if they ever made a difference in the world. Planning for the future is one of the most impactful ways to ensure your legacy will make a difference that truly matters for generations to come!
What is a charitable bequest?
A charitable bequest is a simple and flexible way to leave a gift to the Center of Family Love. With the help of an attorney, you can include a written statement in your will or trust leaving a gift to family, friends, or a qualified charitable organization as a portion of the distribution of your estate. Charitable bequests can be altered at any time, giving you total control of your assets during life while also allowing you to specify how you would like your funds to be allocated in the future.
Charitable bequests & taxes
If you choose to designate the Center of Family Love for a contribution through a charitable bequest, you may also be eligible for tax benefits including the reduction of income taxes, including capital gain taxes, and the reduction of transfer taxes, including gift and estate taxes. Also, this type of charitable deduction can reduce the out-of-pocket cost of a gift and increase the contribution in many situations.
Different types of bequests
- Percentage bequest: make a gift of a percentage of your estate
- Specific bequest: make a gift of a specific dollar amount, a specific asset, or a specific stock, bond, mineral right, etc.
- Residual bequest: make a gift from the balance or residual amount of your estate
- In addition to the option to make bequests in your will or revocable trust, you also have the opportunity to designate the Center of Family Love as a full, partial, or contingent beneficiary of your retirement account or of your life insurance policy.
If you have any questions about charitable bequests or giving options, please email email@example.com We are always happy to help in any way. If you have generously chosen to make a bequest to the Center of Family Love as part of your estate plan, we would love to know in order to recognize you and your family for your generosity.
The information on this webpage is not intended as legal advice. For legal advice, please consult an attorney.
References to estate and income tax include federal taxes only; individual state taxes may impact results.