Some donors find that the best way to help the Amputee Coalition of America is by making a bequest in their will. There are three different kinds of bequests, but with each, the entire value of the bequest is eligible for an estate tax charitable deduction.

 

Specific Bequest

You designate a particular property (such as shares of stock), dollar amount or percentage of your estate to be transferred to the Amputee Coalition of America. For example, your will might include language such as:

“I give to the Amputee Coalition of America, a charitable institution located in Knoxville, Tennessee, the sum of $______ (or ___ percent of my estate; or the property described herein) for its general purposes.”

Residual Bequest

You designate all or a portion of your remaining (residuary) estate to be transferred to the Amputee Coalition of America, only after all other beneficiaries (including debts, taxes and other expenses) have been paid. For example:

“All the rest, residue, and remainder of my estate, both real and personal, I give to the Amputee Coalition of America, a charitable institution located in Knoxville, Tennessee to be used for . . .”

Contingent Bequest

You designate all or a portion of your estate to be transferred to the Amputee Coalition of America only if a named beneficiary predeceases you. For example:

“If any of the foregoing bequests shall lapse, then I give to the Amputee Coalition of America, a charitable institution located in Knoxville, Tennessee, such bequests as to which ineffective disposition was made.”

As with other charitable gifts, you can direct how your bequest is used, targeting your gift to a specific cause or program or making an unrestricted bequest.

 

» Click here to view sample language that may be used to make a gift to the Amputee Coalition of America through your will or revocable/living trust.

 

If you decide to make a bequest, share your plan with your attorney and financial advisors, who will draft appropriate language for your will and help structure the gift effectively. For further information, contact us at 888/267-5669.

 

This information reflects, in very general terms, how a gift might affect specified tax liabilities. This is not an effort to reflect your current tax picture or suggest that a particular gift will have the indicated result in your case; only your lawyer and accountant can do that. We suggest you consult your financial advisors before acting upon the concepts reflected here.