Phoenix Rescue Mission's Bequest Language
Regardless of how much wealth you have, a Will gives instruction on what to do with your assets and support those in your care. Wills and Trusts are also some of the most popular and flexible ways that you can support Phoenix Rescue Mission.
One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
There are a number of ways you can make a bequest to Phoenix Rescue Mission.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Phoenix Rescue Mission in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Phoenix Rescue Mission, we recommend the following language:
If you are considering making an outright bequest to Phoenix Rescue Mission, we recommend the following language:
Please contact us if you have any questions about how to make a bequest to Phoenix Rescue Mission 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 Phoenix Rescue Mission in your estate plan, please contact us to let us know. We would like to thank you and share the stories of those who are being impacted by gifts like these!
One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
Types of Bequests
There are a number of ways you can make a bequest to Phoenix Rescue Mission.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Phoenix Rescue Mission.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Phoenix Rescue Mission.
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. Many supporters chose to give specific amounts to heirs or friends and splitting the residual amount between causes they want to leave a legacy with.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Phoenix Rescue Mission.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Phoenix Rescue Mission.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. Many supporters chose to give specific amounts to heirs or friends and splitting the residual amount between causes they want to leave a legacy with.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Phoenix Rescue Mission.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Phoenix Rescue Mission in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Phoenix Rescue Mission, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #______________________, for Phoenix Rescue Mission's general use and purpose.
2. Specific BequestIf you are considering making an outright bequest to Phoenix Rescue Mission, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #____________, for Phoenix Rescue Mission's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #_______________, for Phoenix Rescue Mission's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #_______________, for Phoenix Rescue Mission's general use and purpose.
3. Residual BequestI hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #____________, for Phoenix Rescue Mission's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #_______________, for Phoenix Rescue Mission's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID #_______________, for Phoenix Rescue Mission's general use and purpose.
I hereby give, devise and bequeath to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID # _________, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Phoenix Rescue Mission's general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Phoenix Gospel Mission dba Phoenix Rescue Mission, a nonprofit organization located at 1540 W. Van Buren Street, Phoenix, AZ, 85007, Federal Tax ID # _________, DESCRIPTION OF PROPERTY to be used for Phoenix Rescue Mission's general use and purpose.
Contact Us
Please contact us if you have any questions about how to make a bequest to Phoenix Rescue Mission 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 Phoenix Rescue Mission in your estate plan, please contact us to let us know. We would like to thank you and share the stories of those who are being impacted by gifts like these!
