A Charitable Bequest can include a specific gift of cash, securities, property or can be a percentage of the estate or percentage of the remainder of your estate. If you already have a will, you may add a codicil, or amendment, to your current will to include a charitable bequest. See below*.
A bequest to Morris Arts is deductible from your overall estate, which in turn will provide estate tax savings for your family.
A Charitable Bequest offers these benefits:
- Simplicity. Just a few sentences in your will or trust are all that is needed. See below*.
- Flexibility. As needs change in your life, you can continue to change your bequest.
- Versatility. You can structure the bequest to leave a specific amount of money, item, or a percentage of your estate, or make the gift contingent on certain events.
- Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction. Please see How Specific Gifts Provide Tax Relief.
*Suggested language, to review with your attorney, can be as simple as…
I hearby give, devise and bequeath to Morris Arts, Tax ID # 22-2012936, a nonprofit organization operating under the laws of the State of New Jersey, the sum of________ or ______% of the rest, residue and remainder of my estate to be used for the general operating of the organization (or a particular program you want to support. If you chose to direct your gift to a specific Morris Arts program, we ask that you talk with us first, to ensure that we can carry out your wishes).
To make a planned gift you will need the name of the organization, address and tax ID #:
14 Maple Avenue – Suite 301
Morristown, New Jersey 07960
Tax ID #: 22-2012936