Deferred Gifts through Wills and Bequests
A bequest through a will is the simplest and most common planned gift. It can be an outright monetary bequest, a percentage of your estate, a percentage of the “rest, residue, and remainder” of your estate after a number of other bequests have been fulfilled, or a specific asset such as personal or real property. It could also be a contingent bequest, to be exercised only if some other intention is unable to be fulfilled (such as a named heir predeceasing you). You can have charitable bequests given for general purposes or to support specific programs at the Northwest Compassion Foundation.
Examples of bequest language are:
“I give, devise, and bequeath to the Northwest Compassion Foundation, whose address is 22027 17th Ave SE, Bothell, WA 98021, the sum of $________, to be used for _________________.”
“I give, devise, and bequeath 10% of the rest, residue, and remainder of my estate to the Northwest Compassion Foundation, whose address is 22027 17th Ave SE, Bothell, WA 98021, to be used for ___________________________.”
Note: Only specify the use if you want it to be used for a specific purpose.
Procedures: You should always make your estate plan with the assistance of an attorney. The money spent is minimal compared to the savings in taxes and the reduction in complications and confusion.
Use the Northwest Compassion Foundation’s “NCF Estate Planning worksheet”, for gathering information about your assets, intentions, and for making your will.
You can also make charitable gifts through the use of a codicil to your will, or refer to an instruction letter in the will itself. The instruction letter can be changed from time to time without the trouble and expense of rewriting the will.
Your bequest to support the Northwest Compassion Foundation is a living tribute to your intention to support the Christ’s work by giving away assets after you no longer need them. Having made that decision, you may wonder if there might be advantages to giving away assets before you die? But you may be worried that you need the income in your retirement. If that is the case then please review our options for Life Income Gifts: Charitable Gift Annuities and
Charitable Remainder Trusts.
If you would like more information about deferred gifts, you can contact the NCF at (425) 368-2682 or use our Contact Form.
Examples of bequest language are:
“I give, devise, and bequeath to the Northwest Compassion Foundation, whose address is 22027 17th Ave SE, Bothell, WA 98021, the sum of $________, to be used for _________________.”
“I give, devise, and bequeath 10% of the rest, residue, and remainder of my estate to the Northwest Compassion Foundation, whose address is 22027 17th Ave SE, Bothell, WA 98021, to be used for ___________________________.”
Note: Only specify the use if you want it to be used for a specific purpose.
Procedures: You should always make your estate plan with the assistance of an attorney. The money spent is minimal compared to the savings in taxes and the reduction in complications and confusion.
Use the Northwest Compassion Foundation’s “NCF Estate Planning worksheet”, for gathering information about your assets, intentions, and for making your will.
You can also make charitable gifts through the use of a codicil to your will, or refer to an instruction letter in the will itself. The instruction letter can be changed from time to time without the trouble and expense of rewriting the will.
Your bequest to support the Northwest Compassion Foundation is a living tribute to your intention to support the Christ’s work by giving away assets after you no longer need them. Having made that decision, you may wonder if there might be advantages to giving away assets before you die? But you may be worried that you need the income in your retirement. If that is the case then please review our options for Life Income Gifts: Charitable Gift Annuities and
Charitable Remainder Trusts.
If you would like more information about deferred gifts, you can contact the NCF at (425) 368-2682 or use our Contact Form.
