Bequests are gifts made through your will or trust and can be made in several ways: a specific dollar amount, a specific percentage of your estate, or all or part of what remains after provisions have been made to other beneficiaries.
Bequests permit you to retain full control of your assets during your lifetime, but also provide the satisfaction of knowing that, ultimately, assets not needed for family purposes will be directed to the Institute. Importantly, bequests are fully deductible for estate tax purposes.
Here is simple sample language for a specific bequest of money or an asset: “I give, devise and bequeath the sum of $____ (or _____% of my residual estate) to the Junior League of Denver Foundation, a qualified 501 (c) (3) nonprofit organization located at 1140 Delaware Street, Denver, CO 80204, Federal Tax ID number 84-1201624, for its general purpose.
It may be helpful to know that the Junior League of Denver Foundation can easily be added to your existing will through an amendment called a codicil; thus your will does not have to be redrafted.
Helen Daly Peale Society
The Helen Daly Peale Society recognizes and celebrates individuals who have created a planned gift, such as a bequest, which benefits the Foundation. Membership is open to those who have made a lasting gift and includes gifts through their will or trust, retirement plans, life insurance policies or life income gifts. Membership is voluntary and without obligation. The Society is our way of recognizing and celebrating their commitment to the Junior League of Denver Foundation.
When it comes to expressions of support, there are many ways you may choose to make gifts, and planned gifts often benefit your family estate planning goals as well as the Foundation. No matter what your individual circumstances, we are ready to assist in finding the best solution for you.
The above information is not intended to provide legal or tax advice. We encourage you to contact qualified professional advisors to discuss your estate plans to be sure your wishes for family and the Junior League of Denver Foundation are properly documented.