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Consider one the simplest and most rewarding gifts you can make to the White Lake Senior Center: a bequest in your
will or other estate plans. Many of us want to provide generously for the organizations we cherish, in addition to our
loved ones. A bequest of any size is a way for you to extend beyond your lifetime your commitment to issues, values and
organizations that are important to you. A bequest can be "specific", for a particular amount, or "residual", for a percentage of your estate after other obligations have been met. Bequests also differ in how they may be used. Following are the types of bequests: Specific bequest: gives a set dollar amount or specific property (e.g. stocks or bonds, real estate, or items of value) to a beneficiary. Proportional bequest: gives a percentage of your estate to a beneficiary. For example, you may leave 80 percent of your estate to various family members, 10 percent to your church and 10 percent to the White Lake Senior Center. If your estate decreases in size over the years, all your gifts are still honored. If your estate increases in value, the gifts you have designated adjust according to your wishes. Residual bequest: gives the remainder of your estate to a beneficiary after all specific bequests have been satisfied. This type of bequest makes sure your family is provided for and still makes a charitable gift. Contingent bequest: takes effect only if circumstances make it impossible to carry out your primary bequests. For example, you may designate that your estate goes to your spouse if he or she survives, but the White Lake Senior Center if he or she dies before you do. To make a bequest to the White Lake Senior Center, consult a professional - your attorney, accountant or trust officer - who will work with you to design a bequest that fits your situation and meets your goals. A professional will also make sure you receive the tax benefits allowed for your gift. If you already have a will, it may be amended by codicil to include the White Lake Senior Center. Your attorney may have his or her own style for drafting a will, but the following statement contains the necessary elements for making a bequest to the White Lake Senior Center. "I give and bequeath (describe dollar amount, property to be given, percentage or remainder) to the White Lake Senior Center 8741 Ferry Street Montague, MI 49437." |