Each year thousands of individuals exercising their privilege to determine the final distribution of their estates designate that a portion of their assets be used for the benefit and support of American's charitable organizations. Gifts by will have become an integral part of the American philanthropic tradition, because such gifts enable a person to make significant contributions that may not have been possible during life.
Bequests can take various forms.
The following samples of several types of bequests are included for your advisor's consideration in preparing your will. With this bequest you simply leave a specified dollar amount to the designated charity. With such a bequest, you designate that a charitable organization is to receive a specific piece of property. In anticipation of such an occurrence, a charitable organization may be named as the alternate or contingent beneficiary. This will ensure that the property wilt pass to the designated charity rather than to unintended beneficiaries.