Giving Through Your Will

Mediaon March 20th, 2013Comments Off on Giving Through Your Will

Bequests Made Through Wills or Revocable Living Trusts

A bequest is often the easiest way for many donors to make a significant contribution to the Freestore Foodbank and allows individuals to make much larger gifts than they could during their lifetimes. This is particularly appealing to donors who want their gift to “make a real impact,” but haven’t had the means to make a substantial donation before.

How to Include the Freestore Foodbank in Your Legal Documents

Your advisor may need this information in order to complete your legal documents. Our full, legal name is “Freestore-Foodbank, Inc.”  Our federal taxpayer identification number is: 23-7122205.

Why Create A Will or Revocable Living Trust? 

Wills and revocable living trusts are very important estate planning tools. Either allows you to name guardians for your minor children and to determine who will receive your property after your death, in what amounts and proportions and under what circumstances. Tax considerations also may affect the provisions of your will or living trust.

You have an opportunity in your estate plan to provide not only for your family and friends, but also for charity. Besides cash, you may also leave stocks, bonds and other types of property to charity.

You can add meaning to your gift by using it to honor a special friend or loved one. And, you might consider making a gift in your estate plans that will endow your annual gift to the Freestore Foodbank so that the impact you’re making today can live on long into the future.

Engage Legal Counsel 

Most experts agree that hiring an attorney with experience in estate planning will save you and your beneficiaries time and money in the long run. While you determine what goes into your will or trust, your attorney will make sure it is a proper legal statement of how you wish your possessions to be distributed.

Types of Bequests 

When writing or updating your will, you can also make a real difference in the fight against hunger in our region by naming the Freestore Foodbank as a beneficiary.

Here are some common bequest options you can use:

Specific bequestDetermine a specific dollar amount or asset that you wish to leave to the Freestore Foodbank.
Residual bequestAfter you have provided for your loved ones, name the Freestore Foodbank to receive a percentage or all of your residuary estate.
Contingent bequestThe Freestore Foodbank receives a bequest only in the event of the death of other beneficiaries.

If you have questions about leaving a bequest to the Freestore Foodbank, amending your will, or making a legacy gift, please contact us:

Donor Inquiries
Learn More About Our Endowment Learn More About Making A Gift Through Your Insurance Or Retirement Plan Learn More About Creating A Charitable Gift Annuity Learn more about some of our Tomorrow’s Harvest Society Members