Wills and Bequests

You can make a bequest by including language in your will or living trust, leaving a portion of your estate to a favorite charity like For The Love Of Alex.

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Access Tax information

Download a Copy of Our Bequest Information Sheet (PDF)

What is a bequest?

A bequest is a gift from your estate — a transfer of cash, securities, or other property made through your estate plans — and can be made to a charity like For The Love Of Alex. 

A bequest can be made for a specific amount, for a percentage of your estate, or for all or a portion of what is left after you have made bequests to your family. To make a gift from your estate, you must sign a new will or living trust instrument, add a codicil to your present will, or create an amendment to your present trust instrument.

How does a bequest work? 

You designate a particular asset or a percentage of your estate to For The Love Of Alex by including a bequest provision in your will or revocable trust. You can do this while creating your will or trust or amend an existing one with a simple document. For The Love Of Alex can be either a primary or a contingent beneficiary.

If you plan to restrict the use of your bequest (designating to a specific area or program), please contact For The Love Of Alex while drafting your will or trust to ensure your wishes can be met. The more narrowly you restrict the use of your bequest, the greater the risk that the program you want to benefit from today will be less vital or as relevant when we receive your gift in the future. 

Please let For The Love Of Alex know of your commitment, which helps with planning and ensures your wishes can be fulfilled. This is especially important for gifts of real estate, business interest, or other specialized property.

For The Love Of Alex, receives the gift after your lifetime and applies it to the purpose(s) you specified. 

Your distribution is fully deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.

Ways You Can Give Through Other Means

Beneficiary Designation

• Bank Account

• Brokerage Account

• Health Savings Plan

• Life Insurance Policy

• Retirement Plans

• Personal property

• Real estate

What are the benefits of a bequest?

• You retain control and use of your assets during your lifetime.

• You may modify your bequest if your circumstances change.

• Gifts from your estate may be exempt from federal estate taxes.

• A bequest costs nothing now yet gives you the satisfaction of knowing you have provided for a charity’s future.

What are common types of bequests?

• Specific: A gift of a specific amount or item/asset from the estate to For The Love Of Alex. See sample bequest language for this type of gift, or download a copy of our bequest information sheet.

• Residual: A gift to For The Love Of Alex made from the residue of the estate after all other wishes are fulfilled, or a percentage of the estate. 

• Contingent: A gift to For The Love Of Alex only if the designated beneficiaries (usually children or family members) cannot accept the estate gift.

• Perpetual: A series of gifts to For the Love Of Alex over a period of time.

Please reach out to your Estate Planner for more information.