We all know that giving can be a very satisfying and rewarding experience. And most of us want to leave a legacy to show that our lives have made a difference in society. Someone once noted that most of us will work more than 40 years to accumulate assets, will spend ten years conserving what has been accumulated, but will not take two hours to plan carefully for their distribution.
"It is not the plan that counts, it is the planning."
- Anonymous
Let's explore the power of Planned Giving!
Bequest
Making a specific bequest or leaving a percentage of your estate to Boys and Girls Homes through your Last Will & Testament is likely the most common planned gift, and is the easiest to arrange. Combining all your assets and property allows for more flexibility in leaving either a fixed dollar amount to your family, friends, or B&GH, or a specific percentage of your estate to be divided among a named list. It is not uncommon to leave specific bequests to family members and the remainder of the estate divided equally among a variety of charitable organizations.
Some factors to consider when exploring a charitable bequest through your will are:
- Assets you own
- Family considerations
- Number of charitable priorities
Here is sample language that can be used to leave a bequest or remainder gift in your will.
Fixed Amount:
I give, devise and bequeath the sum of $______ to Boys and Girls Homes of North Carolina, Inc., P.O. Box 127, Lake Waccamaw, NC 28450 to be used for its general charitable purpose.
Specific Property:
I give, devise and bequeath _______________________ to Boys and Girls Homes of North Carolina, Inc., P.O. Box 127, Lake Waccamaw, NC 28450 to be used for its general charitable purpose.
Percentage of Remainder:
I give, devise and bequeath ____% of the remainder of my estate to Boys and Girls Homes of North Carolina, Inc., P.O. Box 127, Lake Waccamaw, NC 28450 to be used for its general charitable purpose.
Contingency:
In the event _________________________ does not survive me, I give _____________________ to Boys and Girls Homes of North Carolina, Inc., P.O. Box 127, Lake Waccamaw, NC 28450 to be used for its general charitable purpose.
