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ABYC Foundation |
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Bequests
Each year, many individuals designate a portion of their assets by bequest to benefit charitable organizations. Bequests take many forms such as directing the ABYC Foundation to receive a specific piece of property, or specific dollar amount. Additionally, your will may establish a unitrust or annuity trust to benefit the ABYC Foundation and/or a surviving spouse. Because of the estate-trust charitable deduction, a bequest in any of these forms can significantly reduce the tax burden of your estate. If, for example, you are subject to the top estate rate of 55 percent, a $100,000 charitable bequest saves $55,000 in taxes. Gifts under wills are becoming an important part of the American philanthropic tradition because they allow individuals to make significant gifts that they may not have been able to make while living.
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