Bequest:
can be specified dollar amount or a percentage of an
estate, assets, or property that is described in the
donor's will. It's the easiest way to make a
planned gift and it demonstrates a close
relationship between the donor and Alzheimer
Society Niagara Foundation.
Specific Bequest a gift, usually of cash,
but sometimes of real estate, securities or cultural
properties.
Potential Bequest a gift that takes effect
only if the principal beneficiary does not survive
the donor.
Universal Bequest comprises the total
estate.
Residual Bequest gives the Alzheimer
Society Niagara Foundation any portion of
the estate that remains after specific bequests,
debts and taxes are paid.
Advantages:
Tax benefits;
your estate receives 100% of your donation in
the year of your death; any portion left over
can be carried back for previous tax year
One
of the simplest and easiest ways to support
without affecting your current standard of
living. You can choose a specific amount or
percentage of your estate and your can change it
at any time
Your will ensures that even after death, you retain
the absolute control of your estate. This means your
wishes will be respected, without creating
additional heartache and unnecessary legal tangles
for your loved ones. For many individuals, a will
also provides a means of continuing a commitment to
the Alzheimer
Society Niagara Foundation.
Example of wording in your will
Bequest - Unrestricted use
I direct my Estate Trustee to transfer as a gift to
Alzheimer Society of Niagara the sum of
$_____, (____% of my estate or residue of my
estate), to be used for such purposes in connection
with the work of Alzheimer
Society Niagara Foundation
as the Board of Directors may from time to time
determine.
Bequest - Restricted use
I direct my Estate Trustee to transfer as a gift to
Alzheimer
Society Niagara Foundation the sum
of $_____, (____% of my estate or residue of my
estate), to be used for ______.
Contingent Bequest - Unrestricted use
If any of the beneficiaries named in this will
should die before becoming entitled to receive their
distributive share of my estate, I direct my Estate
Trustee to transfer the share to which such
beneficiary would otherwise have been entitled to Alzheimer
Society Niagara Foundation
to be used for such purposes in connection with the
work of Alzheimer
Society Niagara Foundation
as the Board of Directors may from time to time
determine.
Specific Property Bequest
I direct my Estate Trustee to transfer to Alzheimer
Society Niagara Foundation my [specific
property].