Making a gift in your will, codicil or living trust is an excellent way for you to support Trout Unlimited's conservation mission. A bequest allows you to create a lasting legacy while continuing to use your property during your lifetime.
Types of Bequests
There are a number of ways you can make a bequest to Trout Unlimited.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home to Trout Unlimited, or the specific amount of $10,000.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a fraction or percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Trout Unlimited.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Trout Unlimited.
Bequest Benefits
- A bequest is generally a revocable gift, which means it can be changed or modified at any time.
- You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
- Charitable bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Trout Unlimited in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest - If you are considering making an outright bequest to Trout Unlimited, we suggest the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Trout Unlimited, Inc., a nonprofit organization located at 1777 N Kent Street, Suite 100, Arlington, VA, 22209, Federal Tax ID #38-1612715, for Trout Unlimited's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Trout Unlimited, Inc., a nonprofit organization located at 1777 N Kent Street, Suite 100, Arlington, VA, 22209, Federal Tax ID #38-1612715, for Trout Unlimited'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 Trout Unlimited, Inc., a nonprofit organization located at 1777 N Kent Street, Suite 100, Arlington, VA, 22209, Federal Tax ID #38-1612715, for Trout Unlimited's general use and purpose.
2. Residual Bequest
I hereby give, devise and bequeath to Trout Unlimited, Inc., a nonprofit organization located at 1777 N Kent Street, Suite 100, Arlington, VA, 22209, Federal Tax ID # 38-1612715, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Trout Unlimited's general use and purpose.
3. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Trout Unlimited, Inc., a nonprofit organization located at 1777 N Kent Street, Suite 100, Arlington, VA, 22209, Federal Tax ID # 38-1612715, DESCRIPTION OF PROPERTY to be used for Trout Unlimited's general use and purpose.
Restricted Bequests
If you are considering a bequest but would like it to be used for a specific purpose, please
contact us. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
Happily, some of our projects will be completed in your lifetime. Therefore, if you are making a restricted bequest, we recommend that your attorney include the following provision to give Trout Unlimited flexibility should it no longer be possible for Trout Unlimited to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Trout Unlimited, it shall become impossible for Trout Unlimited to use this bequest to accomplish the specific purposes of this bequest, Trout Unlimited may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please
contact us if you have any questions about how to make a bequest to Trout Unlimited 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 Trout Unlimited in your estate plan, please contact us to
let us know. We would like to recognize you for your support.
