The Catholic Foundation of Eastern Montana's
Bequest Language
One way for you to support the Catholic Foundation of Eastern Montana's mission is to leave us a gift in your will or trust. This is called a "bequest". One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to us during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy.
There are a number of ways you can make a bequest to the Catholic Foundation of Eastern Montana. You can leave what is called a 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 a fixed amount, such as $10,000, to the Catholic Foundation of Eastern Montana. 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 the Catholic Foundation of Eastern Montana.
Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. It is a gift of what is left over - the residue. A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 50% of the residue of your estate to the Catholic Foundation of Eastern Montana.
There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All 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.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Catholic Foundation of Eastern Montana in your will or estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Unrestricted Bequest
If you are considering making an unrestricted bequest to the Catholic Foundation of Eastern Montana, we recommend the following language:
I hereby, give, devise and bequeath $DOLLARS to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purpose.
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purposes.
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 the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purposes.
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purpose.
2. Restricting your gift to a specific endowment(s)
If you want to restrict your bequest to one or more specific endowments, we suggest the following sample language:
I hereby, give, devise and bequeath $DOLLARS to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
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 the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
Please contact us if you have any questions about how to make a bequest to the Catholic Foundation of Eastern Montana or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
Types of Bequests
There are a number of ways you can make a bequest to the Catholic Foundation of Eastern Montana. You can leave what is called a 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 a fixed amount, such as $10,000, to the Catholic Foundation of Eastern Montana. 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 the Catholic Foundation of Eastern Montana.
Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. It is a gift of what is left over - the residue. A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 50% of the residue of your estate to the Catholic Foundation of Eastern Montana.
Bequest Benefits
There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All 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.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Catholic Foundation of Eastern Montana in your will or estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Unrestricted Bequest
If you are considering making an unrestricted bequest to the Catholic Foundation of Eastern Montana, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby, give, devise and bequeath $DOLLARS to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purpose.
Bequest of Specific Personal Property
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purposes.
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 the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purposes.
Bequest of Percentage of an Estate
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the Catholic Foundation of Eastern Montana's general use and purpose.
2. Restricting your gift to a specific endowment(s)
If you want to restrict your bequest to one or more specific endowments, we suggest the following sample language:
Bequest of a Specific Dollar Amount
I hereby, give, devise and bequeath $DOLLARS to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
Bequest of Specific Personal Property
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
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 the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
Bequest of Percentage of an Estate
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to the Catholic Foundation of Eastern Montana, a non-profit organization located at PO Box 1345, Great Falls, MT, 59403, Federal Tax ID #81-0530034, for the sole benefit of the (INSERT NAME OF ENDOWMENT).
Contact Us
Please contact us if you have any questions about how to make a bequest to the Catholic Foundation of Eastern Montana or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
