A charitable bequest is one of the easiest and most flexible ways to leave a gift to the Worthington Resource Pantry.
Benefits of a Bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to charity
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, place of worship, or the Worthington Resource Pantry as part of your estate plan. Or you can make a bequest using a beneficiary designation form.
Ways to Leave a Bequest to the Worthington Resource Pantry
- Include a bequest to the Worthington Resource Pantry in your will or revocable trust
- Designate the Worthington Resource Pantry as a full, partial or contingent beneficiary of your retirement account (IRA, 401k, 403b, or pension)
- Name the Worthington Resource Pantry as a beneficiary of your life insurance policy
Ways to make a bequest
- 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 residual of your estate
For additional tips on planned giving, here are helpful documents from Morgan Stanley