What is a Charitable Bequest?
A bequest is a distribution from your estate. Things to know:
- Tax laws grant an unlimited estate tax deduction, so you may be able to significantly reduce your taxable estate when you make a charitable bequest.
- A bequest made through your will is a creative way to make a thoughtful gift.
- Bequests may be made through a gift of cash, marketable securities, closely held stock, or real estate.
How to Make a Charitable Bequest:
- Include Family & Children’s Service in your will or testamentary trust, or add a codicil to an existing will or trust.
- Indicate whether the gift is for an existing dollar amount, a percentage of the estate or a residue of the estate after all the other beneficiaries have been taken care of.
- Specify where you’d like your gift to go: Either to the General Operating budget, where there is the most need, or to a specific program you really believe in.
- Consult with your attorney or financial advisor before making provisions in your will or adding a codicil to your will for a charitable gift.
For further information, please contact Family & Children’s Service, at (732) 222-9111 or firstname.lastname@example.org.