What is a Bequest?
A bequest is a gift made through your will or trust. When you name Dominican Home Health Agency in your will, you help ensure the future work of the agency and leave a lasting legacy to be remembered.
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest is used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
A bequest is free from federal estate and income taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
How do I make a Bequest?
Your attorney can help you include a bequest to Dominican Home Health Agency Inc. in your estate plan. We have provided some basic bequest language to assist you and your attorney.
Types of Bequests
Specific Bequest A specific bequest involves making a gift of a specific asset such as a specific dollar amount, real estate, a car or other property. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity.
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) or ____ percent (___%) of my total estate to Dominican Home Health Agency Inc., a nonprofit organization located at 2501 Gaylord St., Denver, CO 80205, Federal Tax ID #84-0567786, for its general purposes.
Residual Bequest A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests.
“All the rest, residue, and remainder of my estate, both real and personal [or a percentage thereof], I give to Dominican Home Health Agency Inc., a nonprofit organization located at 2501 Gaylord Street, Denver, Colorado, 80205, Federal Tax ID #84-0567786, for its general purposes.”
Contingent Bequest A contingent bequest is appropriate if you wish to name a secondary beneficiary, in case the primary beneficiary does not survive you.
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Dominican Home Health Agency Inc., a nonprofit organization located at 2501 Gaylord St., Denver, CO 80205, Federal Tax ID #84-0567786, DESCRIPTION OF PROPERTY for its general purposes.
Please contact us if you have any questions about how to make a bequest to Dominican Home Health Agency or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for Dominican Home Health Agency in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.