Bequests are generally revocable, which means they can be changed or modified by you 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 generous gift will be used as intended. One significant benefit is that 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 addition, it’s a perfect way to create a lasting legacy.

You also can very easily name GAHF as a beneficiary under one or more of your retirement accounts. These include pension accounts, profit sharing accounts and IRA accounts. Once again, certain tax benefits may apply.

TYPES OF BEQUESTS

There are a number of ways you can make a bequest to GAHF.

• Specific Bequest: A specific bequest involves making a gift of a specific asset such as a specific dollar amount or shares. For example, you may wish to leave 100 shares or $10,000 to GAHF.
• 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 GAHF.
• 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 GAHF.
• 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 money or specific property, such as a beach house, to a relative, but the bequest language could define that if the relative is not alive at the time of your death, the money or the beach house will go to GAHF.