Charitable Bequest
A charitable bequest is one of the easiest and most flexible ways that you can change the lives of people and the dogs that assist them.
Benefits of a bequest
- Receive a tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy
How a bequest works
With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Dogs for Better Lives as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Dogs for Better Lives
- Include Dogs for Better Lives in your will or revocable trust
- Designate Dogs for Better Lives as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Dogs for Better Lives as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Percentage bequest - make a gift of a percentage of your estate
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
Contact us
If you have any questions about how you can include Dogs for Better Lives in your will/trust or estate plans, please contact us. We would be happy to assist you. If you have been so generous as to include Dogs for Better Lives as part of your estate plan, please take the time to let us know. We would like to recognize you and your family.
Additional Information
The method used to include Dogs for Better Lives in your will/trust depend on the kind of gift you choose to make.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Dogs for Better Lives. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction that can reduce the tax burden for your heirs and maximize your estate gifts to those you care about.