Leaving a Bequest through the Mt. Pleasant Area Community Foundation
You can continue your charitable legacy for years to come by including a gift in your will to support a cause or organization that is important to you. This type of gift, known as a charitable bequest, is the most common form of planned giving, allowing donors to live on through the good work done by their gift, and providing important estate tax advantages.
A bequest can be for:
- A specific dollar amount.
- A percentage of the assets.
- The remainder interest. – (Remainder interest refers to a gift that consists of the remainder of a donor's assets after all expenses and other specific bequests have been paid out.) By including a charitable contribution in a will, a donor can make a gift that is simple, yet potentially much larger than he or she could consider during a lifetime.
How to add a charitable bequest to a will
Adding a charitable bequest to an existing will does not require rewriting your entire will. Charitable bequests may be added through an amendment to an existing will, known as a "codicil." Donors may include or add this language to their will at any time, although it is generally easier to discuss charitable objectives with the Community Foundation ahead of time. If a donor prefers to remain anonymous, he or she may conduct these discussions through an attorney, accountant or other advisor.