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Charitable Bequests

 The Basics

A charitable bequest is simply a gift you make to a charity through a provision in your will or in a trust with provisions that can be altered or canceled.  Your bequest can take any of several forms:

•   a fixed sum of money

•   one or more particular assets, such as shares of stock

•   some or all of what remains of your estate after making other bequests and paying debts and expenses

•   a gift that is made only under certain circumstances (a “contingent” gift)

Click here for sample bequest language you can review and share with your lawyer.

 

Why make a bequest?

 •  Simplicity – A bequest is easy to arrange and often involves just a sentence or two.

•   Flexibility – As your financial picture changes, a bequest can be altered, so long as applicable legal requirements are met.

•   Tax savings – If your estate may be subject to federal or state estate taxes, you’ll be pleased to know a charitable bequest is completely deductible.

See an example of a charitable bequest.

If you have a question or wish to get in touch with someone at Overlake regarding a possible planned gift, please contact Stephanie Stewart, Director of Planned Giving, by email or at 425-688-5452.

 

The information on this website does not constitute legal, financial, tax, or estate planning advice and should not be relied upon as a substitute for such advice. Overlake encourages you to seek the counsel of your own professional advisors and values their involvement as you determine how you would like to proceed.

Contact the Foundation

By e-mail

By phone: 425-688-5525

By mail: 1035 116th Ave NE, Bellevue, WA 98004