A charitable bequest is deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes, which means that the savings can be quite large for large estates.
Many people choose to make a bequest knowing that their gift will support Children's Cancer and Blood Foundation even after they are gone. It is exempt from federal estate taxes as well as many state inheritance taxes.
Ways To Make Your Bequest
Your bequest can include a dollar amount, asset, or percentage of your estate. For example:
"I give $2,000 at the time of my death to Children's Cancer and Blood Foundation."
You can also give CCBF all or a specific percentage of the balance remaining in your estate after expenses, taxes, and the specific bequests have been paid:
"Of the rest, residue and remainder of my estate, I give Thirty (30%) Percent to Children's Cancer and Blood Foundation."
Or, your bequest can be payable to Children's Cancer and Blood Founadtion if the initial beneficiary is unable to inherit it:
"If my son does not survive me, is otherwise unable to inherit, or disclaims this bequest, I direct that it be paid to Children's Cancer and Blood Foundation."
Please consult your attorney, accountant and/or other advisors you may have to learn more about leaving a bequest for CCBF. For any additional questions, please call us to discuss your planned giving goals.