Perhaps the simplest form of planned giving, the bequest is a provision in the Last Will and Testament that provides for a distribution from the estate of some property to an individual or organization. Bequests to a qualified charity are deductible for estate tax purposes. Bequests can include any type of property, including cash, real estate, stock or any tangible or intangible property. A bequest can also be included in a codicil to a Will that has already been executed.
SUMMARY FOR BEQUEST:
Document that creates: Will or codicil
Ultimate beneficiary? To benefit charities of choice
Lifetime beneficiary? Not applicable
Annual benefit: Not applicable