Gift in Your Will

A Gift In Your Will:  Getting Started

We hope you’ll consider including a gift to the Alliance for the Arts in your will or living trust.  Called a charitable bequest, this type of gift offers these main benefits:

  • Simplicity:  Just a few sentences in your will or trust are all that is needed.  The official bequest language for the Alliance for the Arts is: “I (name), of (city, state, zip), give, devise and bequeath to the Alliance for the Arts (written amount of percentage of the estate or description of property) for its unrestricted use and purpose.”
  • Flexibility:  Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
  • Versatility:  You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
  • Tax Relief:  Your estate is entitled to an estate tax (1) charitable deduction for the gift’s full value.

Did You Know?

You can change your mind about your gift at any time.

How It Works

To make a charitable bequest, you need a current will or revocable living trust. Your gift can be made as a percentage of your estate.  Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Alliance for the Arts receives your gift.

Putting Your Family First

When planning a future gift, it’s sometimes difficult to determine what size donation will make sense.  Emergencies happen, and you need to make sure your family is financially taken care of first.  Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter how your estate’s value fluctuates over the years.

We Can Help

Please contact Alliance for the Arts at (805) 449-2590 with any questions you might have regarding estate planning.  We’re happy to help, without obligation.

Click on the Links Below for Additional Information

(1) Currently federal estate taxes are repealed for any deaths that occur in the calendar year 2010.  In 2011 and beyond, estate taxes are reinstated in full.  Congress, however, may reinstate federal estate taxes sometime in 2010.  what the final legislation will look like is unknown at this point.  Check back for future updates.

The information in this website is not intended as legal advice.  For legal advice, please consult an attorney.  Figures cited in examples are for hypothetical purposes only and are subject to change.  References to income tax apply to federal taxes only.  Federal estate tax, state income/estate taxes or state law may impact your results.

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