Planned Giving: Bequests, Memorial Gifts and Estate Planning
German-American Heritage Museum of the USA™
The German-American Heritage Museum of the USA™ opened in March, 2010 in a building once known as Hockemeyer Hall. Renovations were completed by the GAHF after acquiring the building in 2008. Located on 6th Street NW in the heart of the old European-American section of Washington, the Museum sits in what is now a thriving commercial neighborhood.
Leave a Lasting Legacy to Ensure the Survival of German-American Heritage
Are you interested in other ways of supporting GAHF? An excellent way for you to support our mission and the ability of future generations to rediscover their roots and learn about the impact of German-Americans is to leave us a bequest in your will, living trust, or with a codicil.
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 $10,000 to GAHF.
- Percentage Bequest: Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to GAHF.
- Residual Bequest: A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to GAHF.
- Contingent Bequest: A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave money or specific property, such as a beach house, to a relative, but the bequest language could define that if the relative is not alive at the time of your death, the money or the beach house will go to GAHF.
Speak to your attorney today:
Legal name and EIN:
United German American Committee of the USA
Federal Tax ID: 23-2033554
Please speak with your attorney or tax advisor. The information provided here is for informational purposes only and does not constitute legal or tax advice. An attorney or tax advisor will be more familiar with the laws in your state, and can better help you include a gift to GAHF in your estate plan. If you don’t have an attorney, we suggest consulting the American Bar Association’s Directory to contact a lawyer in your state. Below you will find some basic suggested language for an outright bequest to assist you and your attorney/tax advisor:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to United German American Committee of the USA, a 501(c) nonprofit organization located at 719 6th Street NW, Washington, DC 20001, Federal Tax ID #23-2033554, for general use and purpose.
There are also online tools for creating free wills.
Please contact us if you have any questions about how to make a bequest to GAHF or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have already included a bequest for GAHF in your estate plan, please let us know, so we can thank you and recognize you for your generosity.