Giving Through a Will, Living Trust, and Other Plans
In addition to fulfilling an important role in providing for the future financial security of your family and others, your will or living trust can offer a way to make thoughtful charitable gifts to charitable interests as part of your long-range estate and financial plans. It can be satisfying to know that a portion of your property will continue to fund your charitable priorities in the future.
A gift made through a will or living trust can be convenient to arrange. A simple provision or amendment prepared by your attorney at the time you make or update your will or trust is all that is necessary. Gifts included in wills and living trusts are popular because they are flexible, easy to arrange and may be changed with your life circumstances.
Ways to Give Through Wills and Trusts
• Make a gift of a specific amount. A gift of a particular amount may be designated for general use or to fund a special need.
• Provide for a gift of a particular property. Real estate, stocks and other items of value are examples of properties that can be used to fund charitable bequests.
• Designate that a percentage of your estate be given to Vogel Alcove through your will or living trust.
• Give the remainder, or residue, of your estate—that is, what remains after all other bequests to friends and loved ones are satisfied.
• Name charitable interests to receive a bequest in the event other heirs are not there to receive their legacies.
There is no limit on amounts deductible from federal gift and estate taxes for charitable gifts made by will or trust, so these taxes will not normally be due on assets given in this way. Estate taxes are also imposed by a number of states, and charitable gifts may be exempt from those taxes as well. To plan a charitable bequest, inform your attorney of your wishes when your will is being prepared and ask for advice regarding federal and state tax considerations and the best form for your gift.
If you decide to include a gift in your estate plans, our legal name is Vogel Alcove and our tax ID number is 75-2133827.
Have questions for us?
Please contact our offices by the contact information provided below
and ask to speak to Chief Development Officer, Greg Brinkley.
Email: Greg Brinkley email@example.com
Phone: 214-368-8686 (Vogel Alcove)
The purpose of this web site is to provide general gift, estate and financial planning information. It is not intended as legal, accounting, or other professional advice and should not be relied on in making planning decisions. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other legal document.