What are the Advantages of Bequests?
Bequests are simple — Simply include a bequest provision when you make or revise your Will or revocable trust, or you can add a codicil to an existing Will.
Bequests are revocable — If your circumstances or plans change, you can easily update or revise your Will or revocable trust.
Bequests are flexible — You can give almost any kind of asset through a bequest, including cash, securities, real estate, closely held stock, personal property or even the remainder of your IRA or other qualified retirement plan. You can also give percentage interests to multiple charities.
Bequests are deductible — Although you cannot take a current income tax deduction for a charitable bequest, bequests to qualified charities are deductible for federal estate tax purposes when your estate is settled, and there is no limit on the amount of the estate tax deduction.
Bequests are reliable — A simple bequest in your Will or revocable trust will remain the most reliable and economical way to ensure that your wishes are fulfilled when you are gone. Your Will or revocable trust has the full force of law behind its provisions.
How to Make a Bequest
A bequest to Willistown Conservation Trust can be made by creating a new will, adding a codicil to your existing will, or including Willistown Conservation Trust in your revocable trust. If your circumstances or plans change, you can easily update or revise your will or revocable trust. Be sure to consult your attorney for assistance in making a bequest.
Please Let Us Know if You Include the Trust in Your Will
If you include the Willistown Conservation Trust in a bequest provision, please let us know. It helps in our internal planning, and we would like the opportunity to thank you for your thoughtfulness. All notifications are confidential.
Types of Bequests
You can designate the Willistown Conservation Trust to receive a specific dollar amount, a particular object or piece of property, or a stated percentage of your estate.
Through a residuary bequest, you can designate the Willistown Conservation Trust to receive all or a percentage of your estate after specific bequests have been fulfilled and expenses paid.
You may prefer to make a contingent bequest whereby your estate passes to the Willistown Conservation Trust only if your primary heirs do not survive you. This type of bequest is attractive to younger donors because it allows for the unexpected without adversely affecting the primary interests of their spouse, children or other primary beneficiaries.
Finally, a bequest may be structured as a testamentary charitable trust to provide for surviving family members during their lifetimes, before reverting to the Willistown Conservation Trust.
Samples of Bequest Language
The following examples can be tailored to your interests. Be sure to consult your attorney for assistance in making a bequest.
“I give (___ dollars) (a specific asset) or (__ percent of the rest, residue, and remainder of my estate) to Willistown Conservation Trust, Inc., a non-profit Pennsylvania corporation, located at 925 Providence Road, Newtown Square, for its general purposes.”
Bequest for a specific purpose:
“I give (___ dollars) (a specific asset) or (__ percent of the rest, residue, and remainder of my estate) to Willistown Conservation Trust, Inc., a non-profit Pennsylvania corporation, located at 925 Providence Road, Newtown Square, to be used for the following purpose: (state the purpose). If, in the future, it is the opinion of the Board of Trustees of Willistown Conservation Trust that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which in the opinion of the Board of Trustees will most nearly accomplish my wishes.”
For more information on leaving a bequest to the Willistown Conservation Trust or other planned giving opportunities, contact:
Associate Director of Development
610-353-2562, ext. 19