Bequests
It has been forecasted that the next generation will see the greatest transfer of wealth in history, and planned giving presents many opportunities for individuals to serve their philanthropic interests while achieving personal tax benefits.
Leaving instructions in your will for a gift to CureSearch is the simplest way to make a significant and lasting gift to support the fight against childhood cancer – and it won’t put a strain on your current income.
Estate tax deduction
It will provide your estate with a charitable tax deduction and may result in a lower tax bracket. A bequest can ensure that assets you have worked hard to accumulate over the years will be used to support things you care about long after your lifetime. The three types of bequests are:
1. Specific Bequest
2. Residuary Bequest
3. Contingent Bequest
It is important for you to consult tax and legal advice to complete your bequest; however, as a general rule you will find the following:
Specific Bequest
A Specific Bequest permits you to determine the exact amount of cash, property or other assets you wish for CureSearch to receive. To include a specific bequest to CureSearch, we recommend that you incorporate the following language into your will or living trust:
“I give and bequeath to CureSearch, a nonprofit corporation, having its principal offices at 4600 East-West Highway, Suite 600, Bethesda, MD 20814, the sum of $________, for its general purposes.”
Residuary Bequest
A Residuary Bequest permits you to leave a percentage of the remainder of your estate to CureSearch after all of your specific bequests have been honored. To include a residuary bequest to CureSearch in your will or living trust, we recommend that you use the following language:
“I give and bequeath to CureSearch, a nonprofit corporation, having its principal offices at 4600 East-West Highway, Suite 600, Bethesda, MD 20814, ____% of the residue of my estate, for its general purposes.”
Contingent Bequest
A Contingent Bequest permits you to direct that a bequest be made to CureSearch should your named beneficiaries not survive you. To include a contingent bequest to CureSearch in your will or living trust, we recommend that you use the following language:
“If the above-named beneficiary (beneficiaries) should predecease me, then I bequeath to CureSearch, a nonprofit corporation, having its principal offices at 4600 East-West Highway, Suite 600, Bethesda, MD 20814, such property of my estate as had been intended for such person(s).”
Additional Information
For additional information on how to include CureSearch in your will or to discuss additional planned giving opportunities, please contact Craig Rocklin via email, call (240) 235-2204 or toll-free (800) 458-6223, ext. 2204.
If you have already made a bequest to CureSearch through your estate plan, please let us know. We would like to thank you and recognize your valuable support.
