Bequests

How can you make a bequest?

Any assets, including cash or property, may serve as a bequest. The most ideal assets are those that produce income in respect of a decedent. Since retirement plans are often the most highly taxed asset in a person's estate, many people realize that pension plans, IRAs, and 401(k) plans are some of the most efficient types of assets that can be used to satisfy their charitable bequests.

Types of bequests

General Bequest: a gift of a specific dollar amount
Specific Bequest: a gift of property
Percentage Bequest: a gift representing a percentage of an estate

Giving through a bequest enables you to:

• receive a 100% estate tax charitable deduction on the value of the property given to charity
• avoid capital gains and income taxes
• provide a meaningful gift even if circumstances hinder you from giving during your lifetime

For more information, contact Robert Brown ’82, CFP at 717-796-5051 or toll free at 1-800-215-5433.

Click here for sample bequest language