Charitable Bequest
How a bequest works
A bequest is one of the easiest gifts to make. You can include language in your will or trust specifying a gift to be made to family, friends, or Planned Parenthood of the Pacific Southwest as part of your estate plan. It usually takes less than a paragraph, often a sentence or two.
- You maintain ownership and control of your assets throughout your life. You have the freedom to use them as you wish and can change your mind at any time.
- You can include options and different scenarios in your plans. For example, you can make a charitable gift only if certain circumstances have occurred.
- A charitable bequest may reduce your estate's taxes by creating a charitable estate tax deduction.
A bequest may be made in several ways
- Specific Bequest - A specific bequest allows you to leave a designated asset, such as real estate, a vehicle, or other property, or a fixed monetary amount. For instance, you could choose to donate your home or $10,000 to Planned Parenthood of the Pacific Southwest.
- Percentage Bequest - Another kind of bequest involves leaving a specific percentage of your overall estate. For example, you may wish to leave 10% of your estate to Planned Parenthood of the Pacific Southwest.
- Residual Bequest - A residual bequest is made from the balance of an estate after the will or trust has fulfilled all other bequests. For example, you may wish to leave the residue or 30% of the residue of your estate to Planned Parenthood of the Pacific Southwest.
Review sample bequest language
Charitable bequest video
Contact Us
If you have any questions about leaving a bequest, please contact us. If you have been so generous as to include a bequest to Planned Parenthood of the Pacific Southwest as part of your estate plan, please take the time to let us know!
