Ways to Make Charitable Bequests
1. Fixed Amount
"I give, devise and bequeath to Yarnell Senior Citizens, Inc., a not-for-profit Arizona corporation, the sum of __________ dollars."
2. Specific Property
"I give, devise and bequeath to Yarnell Senior Citizens, Inc., a not-for-profit Arizona corporation,
(Description of the specific property to be gifted)."
3. Percent of Residuary
"I give, devise and bequeath to Yarnell Senior Citizens, Inc. a not-for-profit Arizona corporation, all (or ____ percent of) the rest, residue and remainder of my estate."
4. Contingent Beneficiary
"If any legacy or devise shall fail or lapse and would therefore pass by intestacy, I direct that in lieu thereof such legacy or devise shall be paid to Yarnell Senior Citizens, Inc."
One of the simplest ways of making a gift to the Yarnell Community Center
from your estate is through a bequest in your will or trust.
While you do not receive a current income tax deduction, your estate receives an unlimited estate tax charitable deduction for your
bequest, and you may change a bequest at any time while you are alive and competent to make a will.
There are two types of charitable bequests:
An unrestricted charitable bequest provides funds which the Yarnell Community Center uses for its general purposes. This type of bequest is extremely useful to an organization because the assets can be put to use in areas of greatest need.
A restricted charitable bequest requires that the gift be used in a specified manner. This can be a restriction to a particular fund, project or special area of interest. It is preferable to have restricted bequests defined as broadly as possible. By avoiding narrowly restricted bequests, both the donor and the Yarnell Community Center are assured that the gift's effectiveness will not be reduced because of changing circumstances.