UNDERSTANDING THE OPTION
A charitable bequest takes effect through your estate plan. It may name a dollar amount, a particular asset, a percentage of the estate, or some or all of what remains after other commitments are met.
Because a will or revocable trust can generally be revised, this approach allows your plans to respond to changes in family, finances, and priorities. You can also name Shrine Mont as a backup beneficiary if another beneficiary cannot receive the gift.
Unrestricted language gives Shrine Mont the greatest ability to meet future needs. If you want the gift used for a particular purpose, speak with Shrine Mont before signing so the intended use can be described in a way the organization can honor.
Why donors consider it
- No current transfer of assets is required
- The amount or percentage can be changed later
- A gift may be unrestricted or directed to an agreed purpose
- Notification can qualify you for the Transfiguration Society
A thoughtful process
- Consider the people, responsibilities, and causes your plan should serve
- Ask an estate-planning attorney to prepare or revise your documents
- Confirm Shrine Mont’s legal name and any desired restriction
- If comfortable, tell Shrine Mont about your intention so records remain accurate
Points to discuss with your advisors
- State law affects wills and trusts
- A restricted purpose should be approved in advance
- Sample language is a starting point, not a substitute for legal counsel
This overview is not legal, tax, investment, or financial advice and does not confirm that Shrine Mont can accept a particular asset or arrangement. Please consult qualified advisors and contact Shrine Mont before taking action.