Christian Heritage School

A "bequest" is simply a term used to describe a gift in your will or family trust specifying that a certain percentage of your estate, a particular asset, or a specific dollar amount is to be directed to a named beneficiary. When you make a bequest to charity, your estate is entitled to a charitable gift deduction for the value of the bequest.

A bequest can be for an unrestricted or designated gift in the form of cash, property or securities. It can also take the form of a "residual legacy" whereby a charity receives all or a portion of whatever remains of your estate after all debts, taxes, expenses and other bequests have been dispensed.

The advantages of a bequest include:

• • You have the use of your assets during your lifetime.
  • There are many options to ensure your bequest is personally meaningful.
  • Your estate receives a charitable gift deduction.
  • A bequest is a revocable gift and can be altered at any time should your circumstances change.