What is a Charitable Bequest?

A charitable bequest is simply a distribution from your estate to a charitable organization through your last will and testament or trust.   There are different kinds of bequests.  For each, you must use very specific language to indicate the precise direction of your assets and to successfully carry out your final wishes.

In any charitable bequest, it is important to name the recipient accurately or your bequest may go to a charity you did not intend.

If you want your charity to use your gift is a certain way, you must also specify the purpose of your bequest. 

You do not need to be wealthy to make a charitable bequest.  A small gift is of value to all charitable organizations.

Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.

This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.

Should you give copies of your Will and other estate planning documents to your children and to the Personal Representatives of your estate?

 For some people, their estate planning documents are as private as their income tax returns, and nobody is ever given copies.  For other people, estate planning documents are no different than a spare key to the house, and every family member and Personal Representative and/or trustee named in the documents are given a copy.

 If you are the type of person who values your privacy, who does not especially trust your children, Personal Representative, or trustee, or if you have written a Will or trust which does not treat all the children equally, then it may not be a good idea to hand out copies.  Also, you may have more money than your children expect, and depending on how your Will or trust is written, giving them a copy may be letting them know too much about your personal business.

 On the other hand, if you have a fairly open relationship with all your children, you regularly discuss finances with them, and you are leaving your estate to them in equal shares, then go ahead and give everyone a copy.  Of course, if you decide to change your Will or revocable trust, you should be sure to give all the same people copies of the new documents.  If you don’t, then there may be some arguments following your death over which document controls the disposition of your estate.

Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more.

This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.

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