A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to The Legacy Foundation at Shell Point, Inc. that will make a lasting impact.
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to family, friends or Shell Point Retirement Community as part of your estate plan.Click Here to review sample bequest language.
A bequest may be made in several ways:
A retirement asset, such as an IRA account, makes an excellent bequest to us. If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating Shell Point Retirement Community as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.
The method used to make a bequest will depend on the kind of gift you choose to leave to The Legacy Foundation at Shell Point, Inc..
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to The Legacy Foundation at Shell Point, Inc.. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.