Specific bequests Such bequests designate a specific percentage of the estate, sometimes a specific amount or a specific property, that is to be given to charity. Several such designations can be made in a will. After each specific bequest has been provided for, a charity can receive all or a fractional portion of the estate's residue. Contingent bequests Charity receives all or a designated portion of the estate only in the event of the death of another beneficiary. A trust can be created by a will which provides income to a loved one for a specified period of time.
Charity receives the remaining trust principal after the lifetime of the trust has expired.
Retirement plans You can name the WELS, your congregation, or other charities as the remainder beneficiary of your retirement plan. Through your will you can transfer savings bonds directly to charity. This is the only way that taxes on the gain earned by such bonds can be avoided. Payable on Death Accounts' You can name the Lord's work as beneficiary of a rainy day' savings account. Likewise, Church Extension Fund Notes and Certificates can be designed payable on death as gifts to the WELS and other beneficiaries.