There are many ways that you can make a gift through your will or living trust. You may find that one of the following arrangements best fits your estate planning goals:
Residuary bequest is stated as a percentage.
Example: ____% of my estate.
Specific bequest is stated as a fixed dollar amount
Example: the sum of $___________
It is often simpler to express your bequests as a percentage of your estate. In the event your estate changes in value you will not have to update your will as often. Your gifts remain proportional to your estate.
We suggest the following language for use when your attorney is drafting your will:
I give to the ACLU Foundation of San Diego & Imperial Counties, PO Box 87131, San Diego, CA 92138-7131,
the sum of $_________
or
All or ____ percent of my residuary estate to be used for its general purposes.
Tax Note: It is worth noting that not every person's estate can take advantage of an estate charitable deduction. If your estate (including life insurance policies, retirement plans, etc.) is valued less than $2,000,000 in 2006 you are not subject to federal estate tax. Under current tax law this amount will decrease to $1,000,000 in 2011.
