Bequests inheritances, and other transfers at death.
Bequests. 2) Interest proceeds from unrestricted endowments
Bequests. Donations – Inheritances:
Bequests. Bequests received by the Foundation will be applied for the charitable purposes requested by the donor, if any are specified, so long as the Foundation determines, in the exercise of its reasonable discretion, that the gift’s purpose is viable. A gift whose purpose is not viable will go into the Foundation’s Fund for Monterey County and/or General Scholarship Fund. Donors and their advisors are encouraged to advise the Foundation of their intention to make such bequests to ensure that the donor's intent can be carried out through the Foundation's grantmaking activities and organizational capacity.
Bequests. I will give the persons named below, if he or she survives me, the Property described below: Name: _____________________________________ Address: ___________________________________ Relationship: ________________________________ Property: ___________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ Name: _____________________________________ Address: ___________________________________ Relationship: ________________________________ Property: ___________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ Name: _____________________________________ Address: ___________________________________ Relationship: ________________________________ Property: ___________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ If a named beneficiary to this Will predeceases me, the bequest to such person shall lapse, and the property shall pass under the other provisions of this Will. If I do not possess or own any property listed above on the date of my death, the bequest of that property shall lapse. ALL REMAINING PROPERTY; RESIDUARY CLAUSE: I give, devise, and bequeath all of the rest, residue, and remainder of my estate, of whatever kind and character, and wherever located, to my _________________ [wife or husband], provided that my _________________ [wife or husband] survives me. I make no provision for my children, knowing that, as their parent, my _________________ [wife or husband] will continue to be mindful of their needs and requirements. If my _________________ [wife or husband] does not survive me, then I give, devise, and bequeath all of the rest, residue, and remainder of my estate, of whatever kind and character, and wherever located, to my children per share, but if any child predeceases me, then his or her share will pass, per share, to his or her lineal descendants, natural or adopted, if any, who survive me; but if there are none, I direct that the share of any child of mine who shall have died leaving no issue shall be divided among my surviving children in equal shares.
Bequests. Bequests naming the Community Foundation are one of the simplest ways you can provide for the future of your community and the charities you support. Gifts to the Community Foundation are completely exempt from estate taxes. And, your charitable vision is secure—for good and forever. Here are some common ways that bequests are created: A residuary bequest provides for the assignment of assets remaining in your estate after other expenses and bequests have been satisfied. A remainder bequest allows for some portion of your estate to be set aside, before bequests are satisfied, to provide income to a surviving spouse or other heirs for a period of years or for the lifetime of the beneficiary. Once those obligations are concluded, the Community Foundation receives the remainder of the estate and begins making xxxxx distributions in your name. Gifts of Closely Held Stock Many donors are familiar with making a gift of publicly traded stock and the many benefits it offers. Community Foun- dations are also interested in gifts of closely held stock. Quite frequently, much of an entrepreneur’s personal net worth is in the form of highly appreciated, closely held stock, which, if sold, would trigger a large capital gains tax. For philanthropi- cally-inclined business owners, making gifts of closely held stock to the Com- munity Foundation presents an extremely attractive option for both maximizing the size of their charitable contribution and for reducing their own personal income and potential estate taxes. 13 Because closely held stock is not publicly traded, arriving at a valuation is a key part of the process. The Internal Revenue Service requires all gifts of privately held stock greater than $10,000 receive a Gifts of Real Estate—Important Issues to Consider A signed appraisal by a qualified third party is required to support a gift of real estate tax deduction. Donors are responsible for getting, and paying for, a fair appraisal. Donors should understand that if the Community Foundation sells the real estate within two years—which usually will be the case—a Form 8282 is filed with the IRS. If there is a significant discrepancy between the sale price on this form and the valuation claimed for tax purposes, the IRS may question the deduction. Further complications arise if mortgaged property is donated. The transaction is likely to be treated as a bargain sale if the property is encumbered. Under the bargain sale rules, a contribution of such property is treate...
Bequests. If, after the Closing, the Company or any Company Subsidiary receives a bequest, charitable donation or other charitable or similar gift or contribution (whether in the form of cash, check, securities or other investments, real estate or otherwise (each, a "Donation")) from any Person made or intended to be made for the benefit of Stockholder, the Company or Company Subsidiary (as the case may be) shall promptly (a) remit such Donation to Stockholder or (b) return such Donation to such Person and notify such Person of the appropriate address to send Donations to Stockholder.
Bequests. 1. Gifts through xxxxx (bequests) shall be actively encouraged by the Church
Bequests. SA Police Legacy welcomes the opportunity to speak with members of our community about supporting our valuable work via a bequest in your Will. Please contact us for a confidential discussion and more information about how you can help.
Bequests. Gifts granted through your will or trust at the time of your death. The gift may be a set dollar amount or a specific itemized property such as stocks, bonds, land, equipment, etc. Some individuals leave a residual gift, which is a bequest of their estate (or percentage of the estate) that remains after all debts and other obligations are paid. Retained Life Estate Agreements Retained Life Estate Agreements may be used to give property to the shelter while you retain the right to use the property for the remainder of your lifetime. Charitable Gift Annuities Charitable Gift Annuities involve a transfer of money or securities in exchange for the shelter’s agreement to pay you a guaranteed fixed income for life. They may also be set up to pay through the lifetime of a second person, such as a spouse or child. The amount of income received depends on the age when the annuity begins. Your tax professional can advise you on how to maximize your tax advantage with this method of giving. Life Insurance / Annuities / IRA’s / 401K’s / Trusts Planned Giving “Planned giving” is an all-inclusive term used to describe the many types of gifts an individual may use to continue supporting the mission of the Cedar Bend Humane Society. Some of these options include: Outright Gifts Outright gifts are often considered the most desirable type of planned gift as funds may be used immediately. Please be sure to consult your attorney and/or your financial advisor about which type of gift is the best to maximize your tax benefit. Life Insurance Policies There are two ways to do this. Name the shelter as the beneficiary of a life insurance policy on which you pay premiums, with the proceeds payable upon your death. The second way is to buy an insurance policy naming the shelter as the beneficiary and make a gift of the policy itself. By donating the policy, an immediate income tax deduction is available to you. In addition, if you continue to pay premiums on our behalf, the premium payments are also deductible. Charitable Remainder Trusts Please contact Co-Directors, Xxxxx Xxxxxxx or Xxxxxx Xxxxxxx at the Cedar Bend Humane Society 000-000-0000 to let them know when you have made plans for any such gifts. We would love the opportunity to thank you for your generous act. We are happy to honor your wishes regarding anonymity. Trusts are typically used when your gift is $50,000 or more. The body of the trust becomes available to the Cedar Bend Humane Society upon your death. There are m...
