Bequests – Designating our organization as the beneficiary of your asset by will, trust or beneficiary designation form, is one of the easiest and most flexible ways that you can leave a gift to FINCA International that will make a lasting impact.
You can include a bequest to our organization in your will or revocable trust. Designate FINCA International as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension) or name FINCA International as a beneficiary of your life insurance policy.
• Receive an estate tax charitable deduction
How to Make a Charitable Bequest?
You can designate FINCA International as the beneficiary of your asset by will, trust or beneficiary designation form.
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or FINCA International as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Types of Bequests:
Percentage bequest – make a gift of a percentage of your estate
Specific bequest – make a gift of a specific dollar amount or a specific asset
Residual bequest – make a gift from the balance or residue of your estate
Contingent bequest – A contingent bequest is made only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to FINCA International.
Need More Information?
If you have any questions about making a charitable bequest, we would be happy to assist you.
Already Made a Gift?
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Please contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate “beneficiary designation” form. You will need to complete and sign the form and then send it back to whom originally sent you the form.
When the bequest property is transferred to FINCA International, the full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.
In order to make a bequest, you should speak with your attorney. They can help you include a bequest to FINCA International in your estate plan. Below is some basic bequest language to assist you and your attorney:
“I hereby give, devise and bequeath (write type of bequest here) to FINCA International, a nonprofit organization located at 1201 15th Street NW, 8th Floor, Washington, DC 20005, Federal Tax ID #13-3240109, for FINCA International’s general use and purpose.”
Looking to Give to a Specific Purpose?
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.