A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to Northern New England Conference that will make a lasting impact.
Benefits of a bequest
- Reduce the federal and state tax burden on your family
- Receive an estate tax charitable deduction
- 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 agreement directing that a gift be made to family, friends, or Northern New England Conference as a part of your estate plan, or, as an alternative, you can make a bequest using an IRA, 401k, 403b or life insurance using a beneficiary designation form.
Here are some of the ways to leave a bequest to Northern New England Conference
- Include a bequest to Northern New England Conference in your will or revocable trust
- Designate Northern New England Conference as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Northern New England Conference as a beneficiary of your life insurance policy
A bequest may be made in several ways
- 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 residue of your estate
If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Northern New England Conference as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.
The method used to make a bequest will depend on the kind of gift you choose to leave to Northern New England Conference.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to Northern New England Conference. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.