I WANT TO MAKE A CONTRIBUTION TO A CHARITY IN MY WILLYou need a will to make sure all of your worldly possessions go to the person you want.
You also need a will to give to those charities or foundations that you believe help the causes that you support for the good work that they do.
Plan Gifts too OrganizationsHow do you go about showing your generosity and support to these organizations? Since these gifts do not involve a donation in the present, it is necessary to carefully plan these future gifts.
Many Charitable OrganizationsThere are several ways that you can make a bequest or gift to the organization of your choice through your will. You can give a specific amount of money or give a specific asset (vehicle, real property) to the charitable organization. You may give a residual gift of the remainder of your estate or a percentage of the remainder after you have made specific gifts. You may state in your will that you want give a percentage of your estate to the charitable organization or foundation of your choice. Or, you may state in your will that you want to give a contingent gift to a certain charitable organization or foundation for the work that they do.
Charitable Gifts & the WillTo give a contingent gift in your will means if a named beneficiary does not survive you, that gift to the named beneficiary would go to the charitable organization or foundation of your choice that you name in your will.
Specific wording in the WillWording of such a gift to a charitable organization or foundation is fairly simple, but it must be specific. If you are unsure about how to leave your legacy gift to the charitable organization or foundation speak to someone in the organization’s planned gift department. Something as simple as, “I give ______ (a specific amount, or a percentage of my estate) to ____________ (charitable organization or foundation), having its principal offices at ____________________ (address of the charitable organization or foundation), for _______________ (its general purposes to or for something specific).
The charitable gifts that you plan for and state in your will are your way of showing your support of a charitable organization or foundation for the work they do for the benefit of society.