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Making a Charitable Bequest

making-a-charitable-bequest

 

Making a Charitable Bequest

by David Warnock

Q: I would like to make a “charitable bequest.” How would I include a bequest of some of my estate assets to Heaven’s Family in my will or living trust?

A: There are several types of bequests (the act of leaving something to a beneficiary) commonly used in a will or as part of a living trust (also known as a “revocable trust”).

A Simple Bequest leaves a specific asset or a percentage of an asset, such as money or property, from your estate to a beneficiary.

A Residual Bequest leaves all of the remainder, or a percentage of the remainder, of your estate to a beneficiary. This, for example, allows you to provide for loved ones through simple bequests and leave the remainder of your estate to an entity or entities that reflect your values and passion.

And a Contingent Bequest leaves a portion of your estate to a contingent beneficiary if an original beneficiary is unable to inherit a bequest. This, for example, allows you to provide for a loved one through a simple bequest, but if that loved one predeceases you, the contingent beneficiary will inherit that portion of the estate.

If you already have a will or trust, you can amend it to add a bequest without rewriting the entire document. A simple addendum called a “codicil” can be prepared to add a new bequest while reaffirming your original will or trust.

When making a bequest to an entity, it is important to use the proper legal name and address. Heaven’s Family receives bequests through our Heaven’s Family Strategic Stewardship Fund at the National Christian Foundation. To make a “charitable bequest” to Heaven’s Family, your legal document should direct your estate assets to the following:

National Christian Charitable Foundation, Inc., (a charitable, non-profit corporation organized under the laws of the State of Georgia) subject to its governing instrument, policies and procedures, as amended from time to time. This distribution is designated for The Heaven’s Family Strategic Stewardship Fund (#717070). (TIN# 58-1493949, 11625 Rainwater Drive, Suite 500, Alpharetta, GA 30009).

Although it is not necessary that you inform us of an intended bequest to Heaven’s Family, we are always blessed to learn that you are passing the stewardship of what God has entrusted to you onto our Lord’s work. In addition, we will keep a confidential record of your intended charitable bequest in the event that we need to inform you of any important changes, such as a change of address.

David Warnock is happy to assist you with your questions regarding strategic stewardship. You can reach him at (412) 833-5826 or email him at DavidW [at] HeavensFamily [dot] org.

Strategic Stewardship