Both the stability of the organization and the promotion of bequests as a method of contribution can be communicated through a continuous, persistent message in your magazine, newsletter or other mailings. A key part of this process is educating your current and prospective donors about the importance of having a valid will. If a person dies intestate, or without a valid will, the decedent's property is distributed according to state law. Planned giving experts recommend that to promote bequests, you distribute literature and give seminars on the importance of having a will. It's a good idea to team up with knowledgeable estate attorneys who can write articles for your publications and co-sponsor seminars.
Specific bequests are gifts of specific distinguishable items.
These bequests are satisfied first under a will and are most desirable. A general bequest is gift property that is similar to all other items of the kind, usually cash. These bequests are satisfied right after the specific bequests. A gift of real property is called a devise. A residual bequest makes a gift of all or part of the remaining estate after specific and general bequests have been satisfied.