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Home > Ways to Give > Bequests




Charitable bequests often are recommended by professionals for donors' consideration as part of their estate planning.

Donors are encouraged to obtain legal and financial counsel in developing estate plans, or preparing and executing wills, codicils and trusts.

Three basic types of bequests:

Specific bequest conveys a particular piece of property (e.g.,
a rare coin collection or shares in a corporation) or a stated
sum of money.
Residual bequest conveys part or all of what remains of an
estate after all debts, taxes and administrative costs have
been paid and specific bequests have been distributed.
Contingent bequest takes effect only if the primary intentions
of the testator cannot be met (e.g., if a primary beneficiary
dies before the testator).

Preparing and executing bequests:

Foundation staff can provide language for review by donors and donor's advisors. Charitable bequests may be designated when a new will is executed or when adding to an existing will through a codicil.

Living trust assets may also be designated to the Foundation. Such an agreement acts as a will in specifying individuals and organizations to receive trust assets. The above bequest options may be included in a living trust agreement.

The Foundation appreciates notice from donors of bequest intentions or of related gifts through will or trusts.

Gift acknowledgment:

All donors are sent letters thanking them for their intention to name the Foundation as a beneficiary of their wills or trusts and are named members of the George Lynn Cross Society.


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