Planned gifts are made through estate plans, and BGCGG is grateful to accept any of the following:
- Will or living trust
- IRA/retirement fund
- Charitable remainder or lead trust
- Life insurance policy
- Bank/brokerage account
To make a gift to BGCGG from your estate, you must sign a new will or living trust instrument, add a codicil to your present will, or make an amendment to your present trust instrument.
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Alternatively, you can designate BGCGG as a beneficiary of a retirement plan or life insurance policy. To do so, contact the retirement plan administrator or life insurance company and complete the appropriate beneficiary designation form. You can designate a specific purpose for such a gift with a separate letter prepared with assistance from BGCGG’s Resource Development Department.
There are a number of ways you can make a bequest to Boys & Girls Clubs of Garden Grove.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Boys & Girls Clubs of Garden Grove
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Boys & Girls Clubs of Garden Grove.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Boys & Girls Clubs of Garden Grove.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Boys & Girls Clubs of Garden Grove
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Boys & Girls Clubs of Garden Grove in your estate plan. We have provided some basic bequest language to assist you and your attorney.
- Specific Bequest
If you are considering making an outright bequest to Boys & Girls Clubs of Garden Grove, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Boys & Girls Clubs of Garden Grove, a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840. Federal Tax ID #95-6112702, for Boys & Girls Clubs of Garden Grove’s general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Boys & Girls Clubs of Garden Grove, a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840. Federal Tax ID #95-6112702, for Boys & Girls Clubs of Garden Grove’s general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Boys & Girls Clubs of Garden Grove, a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840, Federal Tax ID #95-6112702, for Boys & Girls Clubs of Garden Grove’s general use and purpose.
- Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Boys & Girls Clubs of Gardens Grove we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Boys & Girls Clubs of Garden Grove a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840. Federal Tax ID #95-6112702, for Boys & Girls Clubs of Garden Grove’s general use and purpose.
- Residual Bequest
I hereby give, devise and bequeath to Boys & Girls Clubs of Garden Grove a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840. Federal Tax ID #95-6112702, for Boys & Girls Clubs of Garden Grove. ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for general use and purpose.
- Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Boys & Girls Clubs of Garden Grove a nonprofit organization located at 10540 Chapman Avenue, Garden Grove, CA 92840. Federal Tax ID #95-6112702, DESCRIPTION OF PROPERTY to be used for Boys & Girls Clubs of Garden Grove’s general use and 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.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Boys & Girls Clubs of Garden Grove flexibility should it no longer be possible for our Boys & Girls Clubs of Garden Grove to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Boys & Girls Clubs of Garden Grove, it shall become impossible for Boys & Girls Clubs of Garden Grove to use this bequest to accomplish the specific purposes of this bequest, Boys & Girls Clubs of Garden Grove may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
You can write your will in about 20 minutes or less at no personal cost using FreeWill. Whether you include a bequest to BGCGG or not, it is important to take the time to have a will for your loved ones. If you do plan to include a bequest for Boys & Girls Clubs of Garden Grove, please include the following information:
Our legal name: Boys & Girls Clubs of Garden Grove, Inc. Tax I.D. Number: 95-6112702 Address: 10540 Chapman Avenue, Garden Grove, CA 92840
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