Charitable Bequests

Establishing a charitable bequest in your will is one of the simplest forms of planned giving and one of your greatest opportunities to leave a gift that likely is larger in scope than you would be able to do in life. A bequest in your will creates a gift out of your lifetime accumulation of assets, thus enabling you to make a greater impact on the mission of your chosen ministries.

Leaving a Gift in Your Will

Setting aside a portion of your estate for charitable purposes is an easy and effective way to support the ministries you cherish. A charitable bequest in your will, usually given upon second-to-die in marital circumstances, can be a specific amount of cash, shares, real estate, or other valuable asset. Designating a percentage of your estate residual is often a preferred method of creating a gift. Utilizing this concept, you can establish a gift that will fluctuate in value with the changing value of your estate. You can also establish an endowment or designated fund through a gift in your will, to provide ongoing support of your favorite ministry.

A charitable gift in your will

  • Gives you satisfaction that you can support a ministry even after your death
  • Provides much needed resources to the ministries you are passionate about
  • Creates a tax credit for your estate thus reducing the amount owed in taxes
  • Is simple to arrange and easy for your executor to administer
  • Has no impact on your current income or lifestyle
  • Allows you to direct funds to your charities rather than give it to the government

Naming LFC in your will and completing a Gift Allocation Agreement, gives you maximum flexibility for future changes and/or updates to your charitable beneficiaries without having to go back and change your will. Simply update the agreement on file at LFC.