What is a Bequest?
A bequest is a dispositive provision in your will that transfers property such as cash, securities or tangible property to an individual or a charitable organization like the Sigma Lambda Beta Education Foundation. What are the benefits of a Bequest? For many donors a bequest offers the opportunity to make a more substantial gift than would be possible during the donor’s lifetime. Bequests offer the ability to significantly reduce your taxable estate and are a simple way to support a specific chapter or program while helping to ensure the enduring success of Sigma Lambda Beta. Would the Education Foundation like to know my Bequest intentions? Yes! Please let us know. When you do mention the Education Foundation in your will, we respectfully request that you let us know. Not only will this knowledge help us better plan for the future, it will also allow us to thank you appropriately and give your gift the recognition it deserves (if that is your wish). We also want to make sure you have
A bequest is a gift made through a will or living trust. Bequests normally assume one of two forms. Specific bequests give a sum of money or specific items of property. For example, a will might read “$5,000 to ABC” or “my house to my eldest daughter, Dorothy Smith.” Residuary bequests are paid from the remainder of the estate after all specific bequests have been paid. For example, a will might read “10% of the rest of my estate to The University Foundation at Sacramento State.” Sometimes, a will contains a contingent bequest. This means that the distribution will happen only under certain circumstances. For example, it might read, “I leave my entire estate to my sister, Louise Williams, if she survives me; but if she predeceases me, to The University Foundation at Sacramento State to be used for scholarships.” A bequest to The University Foundation at Sacramento State through your will or living trust provides a legacy to benefit the students of future generations. Sample Bequest Lan
The noun bequest, and the verb, to bequeath, are terms most often associated with the writing of a will. Essentially they refer to the language in your will, which states how your physical property, usually not your money, will be distributed after your death. A bequest can be made on behalf of a single individual who will inherit your physical property, or it can be made to benefit a group of individuals, a company, or a nonprofit or charitable organization. Provided that your bequests do not contradict state law regarding inheritance of your property when your will is probated, they should be honored. You can make bequests to dispose of large amounts or small amounts of property. You might for instance, make a will stating that you son becomes the owner of your chalet in Switzerland. Though a bequest can be large, as with the disposing of real estate, many people bequeath very small items in a will that perhaps have sentimental value. For instance, you might want a close friend to ha
A bequest is any gift you pass on through your will or trust. Creating a will or trust enables you to designate what will happen to your property upon death. You will owe less in estate and inheritance taxes with a will. But without one, even your spouse and children may not receive what you intended for them! What is a charitable gift annuity? A charitable gift annuity is a contract through which a donor permanently transfers ownership of at least $10,000 in cash, securities, property, or other assets to a not-for-profit organization such as The School Sisters of Notre Dame of St. Louis. In exchange for this gift, the donor enjoys a substantial tax deduction plus guaranteed, fixed, annual income for life and a reduction on the claim for ordinary income. The annual payment percentage rate is based on the donor’s age at the time of the gift, and the annuity may begin immediately or be deferred until a later time. With a charitable gift annuity, the donor may name a secondary beneficiary
