A Gift in Your Will or Trust
A gift in your will or living trust—also known as a bequest—is easy and within reach. You may name Braille Institute as the beneficiary of a percentage or specific amount of your estate to create a legacy of impact.
Benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to Braille Institute
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends, or Braille Institute as part of your estate plan. You can also make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Braille Institute
- Include a bequest to Braille Institute in your will or living trust
- Designate Braille Institute as a full, partial, or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Braille Institute as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Percentage bequest - make a gift of a percentage of your estate
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
Additional Information
The method used to make a bequest will depend on the kind of gift you choose to leave to Braille Institute.
Bequests of real estate, personal property, business interests, and cash are typically made by way of a will, revocable trust, or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts, and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank, or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to fill out and sign the form and then send it back to your plan administrator.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Braille Institute. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.
Contact us
If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Braille Institute as part of your estate plan, please let us know here. We would like to recognize you and your family for your generosity.