Ways to make bequests
The best way for you to make a charitable bequest through your will depends on a
number of factors, including the assets you own, family considerations, and number of
charitable priorities. A few of the most commonly used methods are introduced here.
Giving a specific amount
Stating a dollar amount to be given through your will offers certainty as to the
amount that will ultimately be put to charitable use. If you plan to update your will
regularly and you are certain that funds will be adequate to satisfy charitable gifts
along with other legacies, giving a specific amount may be a good option to consider.
Giving a specific property
When you know that a charitable recipient can make use of a particular item or
asset to further its mission, you may want to bequeath a specific property.
Be sure to check with the intended recipient to make certain the asset you wish to
leave can be accepted and put to its best use.
Keep in mind that if you sell or otherwise dispose of the asset during your lifetime,
you may unintentionally disinherit" your charitable interests. Therefore, it is
important to give directions as to your desires in the event the property you have
bequeathed is no longer among your assets.
Giving a percentage
If you would like to establish a definite relationship between your charitable and
non-charitable legacies, consider giving a particular percentage of the assets passing
under your will to charity. This way, your charitable dispositions will automatically
adjust along with the total value of property passing under the terms of your will.
All or part of "what's left"
Safeguarding the interests of your family and other loved ones should always
come first in your estate plans. If you are not comfortable with the idea of leaving a
specific amount or a percentage of your assets to charity, you might wish to provide
for a gift from the "residue," or "what's left," after providing adequately for your loved
ones.
In this manner you can assure that others receive what you would like them to
have before any assets are distributed for charitable use.
You may provide that all, a specific amount, or a percentage of the remainder of
your estate will pass to charitable interests.
Consider a codicil
A charitable bequest may be added or modified by a codicil. This supplement (or
addition) to a will may be more simple and economical than having a new will
drafted.
If you are interested in including Sierra Adoption Services in
your will, below is an example of how you may want to word your desire.
I bequeath to Sierra Adoption Services, a California not-for-profit agency
located in Nevada City, California with offices in Sacramento, California
____________ dollars or (or "I give __________% of the residue of my estate)
to be used as the Board of Directors of Sierra Adoption Services may direct.
