5 Ways to Remember a Genesis Foundation in Your Will
A gift in your will to a Genesis Foundation is not only philanthropic, it's also savvy estate planning. These gifts are flexible, revocable and don't cost anything now. Here are some popular ways to create a bequest.
- Unrestricted bequest. By making an unrestricted gift of a given sum of money or other asset, you allow a Genesis Foundation to apply the funds to our most pressing needs.
- Percentage or remainder. You may choose to leave us a percentage of your estate or the balance remaining after bequests are distributed to your other heirs.
- Trust for spouse. In your will, you may want to place some or all of the remainder of your estate in a "QTIP" trust for the benefit of your spouse. After your spouse's death, all or part of the trust remainder can be distributed to a Genesis Foundation.
- Life income plans. Establish a charitable remainder trust in your will, which pays an income to your beneficiaries for life or a term of years. After that, the remainder is given to a Genesis Foundation. Aside from benefiting a charity, life income plans provide major estate tax savings.
- Memorial fund. You can establish a permanent memorial fund through your will and specify how we should forever use the income. The fund can be established in your name or in memory of a loved one.
If you have any questions or would like our suggested bequest language to give to your estate planning attorney, contact Steve Goebel, CFRE at 309-281-4392 or firstname.lastname@example.org.
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The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.