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