Legacy
giving
You can support the
mission of The Sophia Way by making a charitable
bequest.
A charitable bequest is simply a distribution
from your estate to a charitable organization
through your last will and testament.
Below are the most common kinds of bequests.
General Bequests are legacies
left to certain people or causes that come from
the general value of the estate, and are made by
designating a specific dollar amount, a particular
asset or a fixed percentage of your estate to the
cause of your choice.
Specific Bequests are made when
a particular item or property is bequeathed for a
designated purpose (for example, instruments
bequeathed to the local school district for use in
music education; dollar funds to be used in the
operation of a school or church).
Residuary Bequests are made when
you intend to leave the residue portion of your
assets after other terms of the will have been
satisfied.
Contingency Bequests allow you
to leave a portion of your estate to a particular
charity if your named beneficiary does not survive
you.
How to proceed
Without a will, there is no mechanism in place to
make a bequest, so here are some steps you should
take to make sure your wishes are granted.
- Make a list of organizations or causes that
you would like to support.
- Make a detailed list of your assets
(financial, real estate, vehicles, jewelry,
collectibles, musical instruments, etc.)
- Set up an appointment with your financial
analyst or attorney, or planned giving officer
at the organization you intend to support. These
professionals will help sensitively guide you
through the process.
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