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# About Us
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## Who Are We?
Bequests.com is the freshly transformed home for high-quality resources about philanthropic bequests.
We strive to empower fundraisers and other philanthropy professionals to make bequests a thriving program and living legacy within your own nonprofit. Bequests.com is part of the family of fastest-growing philanthropy websites available: be sure to bookmark our sister websites  and .
Choose our website for industry-leading content about bequests, including insightful analysis from bequest experts, inspiring interviews with fellow nonprofit leaders, and helpful resources you can rely on for practical guidance on bequests and philanthropy best practices.
Too much of the online landscape surrounding bequests delivers only stoic legal language from investment companies, basic encyclopedia entries, and ask websites from the largest nonprofits in the world. At Bequests.com, you will find not only practical information, but also forward-thinking research and analysis and thought-provoking profiles of nonprofit professionals just like you.
Making Estate Planning Accessible, Simple, Personal, Secure and free.
Bequests are up, cash is down. Empower your donors to plan their will and invest their legacy in the cause they support the most.
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# Bequests
How They Work
## A Gift Through Your Will or Trust
Nonprofit? Here’s your step-by-step comprehensive guide to .
* Elevator Pitch
* General Description
* Details
* Benefits/Challenges
* Donor Benefits
* Donor Profile
#### Bequest Elevator Pitch
It’s a gift through your will or trust. It just takes a simple designation and it will not affect your cash flow during your lifetime. It’s easy to revoke if your situation changes.
#### General Description of a Bequest
A bequest – a gift made through a will or trust – can be the easiest gift to make because it costs nothing during a donor’s lifetime. Plus, it’s revocable, so updates or changes are easy when circumstances change. Wills or living trusts can be amended to include a bequest to a nonprofit with a simple codicil. A nonprofit can provide a sample bequest and codicil language to review with the donor’s professional advisor. The main advantage of bequests is that they are easy to understand and there is no additional administration or legal responsibility.
#### Details on Bequests
* A will is an important legal document and it is therefore wise for donors to consult a qualified attorney. The expense of creating a well-written document will prevent unnecessary estate administration expenses. Plus, donors will have peace of mind knowing that their plan is solid and does what they want.
* Having an attorney guide donors in writing a will ensures compliance with all applicable state and federal requirements to give them peace of mind about the validity of their estate plan. Sometimes people are reluctant to spend the money for a will and believe that they can take care of the legal language by following online guides. This is where the LegacyPlanner comes in.
* Every state prescribes what are known as “will formalities” to ensure the validity of a will. These formalities typically require that the will be in writing and that both the testator and witnesses sign. Additionally, the will must be notarized with self-proving affidavits (this avoids requiring witnesses to come to court to prove the authenticity of the signatures on the will when the testator dies).
* Charitable bequests are made through a will: a legal document specifying how an individual’s property is to be distributed after death. Some people use a revocable (or “living”) trust as their estate document instead of a will. A distribution from a revocable trust works the same as a bequest under a will to deliver a gift to the nonprofit, and it produces the same tax consequences.
* A bequest can give a nonprofit a specific dollar amount or asset (a “specific bequest”) or a percentage of the net estate. It can also be payable to the organization if, for example, a spouse or child predeceases the donor.
* If the organization’s commonly used name is different from its legal name or similar to that of another organization, provide the legal name and sample bequest wording () to avoid confusion.
#### Benefits and Challenges for the Nonprofit
##### Benefits
* The main advantage of bequests is that they are easy to understand and there is no additional administration or legal responsibility for the nonprofit.
* Bequests can be combined with lifetime gifts for immediate impact or made “irrevocable” by signing a binding pledge if, for example, the donor wants name recognition now.
* A nonprofit can promote bequests as the gift that costs nothing during lifetime.
##### Challenges
* Bequests are revocable and are not payable until death. Therefore, counting bequests toward fundraising goals can be a challenge. The goal of a bequest program is to be included in an individual’s estate plan. The more bequest expectancies that a nonprofit has on file, the more certain its financial future. *People seldom remove charities from their estate plans.*
* If individuals do not have a will or estate plan, they may worry about the cost of hiring a professional to assist them. Reassure them that planning is well worth the time and expense.
#### Donor Benefits
* Donors have the comfort of knowing that they can amend or revoke a charitable bequest if their circumstances or family needs change.
* Donors create certainty about their philanthropic passions and ease the burden of estate administration for their family and heirs when they create a will and include charity.
* Assets will remain in their control during their lifetime.
* Gifts can be directed to a particular purpose, program, or goal.
* Under current tax law, there is no upper limit on the estate tax deduction for the donor’s charitable bequests.
#### Typical Donor Profile
* Anyone committed to ensuring the future viability and strength of the nonprofit.
* Individuals who find long-term planning more important than an immediate income tax deduction.
* Donors looking for a flexible gift commitment that doesn’t affect current cash flow.
* Donors who have given to the nonprofit for more than 5 consecutive years.
* Donors who have made a major gift to the nonprofit in the past. If the nonprofit  has a large donor base, fundraisers may want to look back 10 years for prospective bequest donors.
# Donor Stewardship
Recognizing the value of a donor as they tell you about their plans
## Stewarding Bequest Donors
Along with the , donor stewardship is another essential concept to master as a development professional. While cultivating and soliciting a donor properly helps secure the gift, proper donor stewardship ensures that the donor transforms into a loyal supporter and advocate of your cause.
According to , it costs about five times as much to attract a new customer than it does to retain a loyal one. Donor retention represents a financially-responsible way to build a , while also cultivating meaningful relationships with donors.
Stewardship involves saying thank you, but contains so much more. Stewardship also includes:
* Reporting back to donors consistently about the results achieved through their donations
* Following through on donor recognition, like publishing names in the appropriate donor giving circles or installing plaques and naming rights for major donors
* Sending Thanksgiving or Valentine’s cards to thank donors or to celebrate your shared love for the cause
* Discovering if you can reach out to the family or executor of a bequest to share your gratitude and keep them updated
* Sending small tokens of gratitude sent throughout the year, whether those are purchased gifts or low-cost and no-cost solutions, like letters or artwork from your program participants
Learn more about donor stewardship with  from MajorGifts.com.
# Bequest Language
With simple language in a will or trust, one can support any charity they wish.
## Four Types of Bequests
A gift to your favorite charity in your will or revocable trust proclaims your confidence that they will continue to further their mission for generations to come and make a difference in the lives of others. A bequest:
* Is easy to arrange.
* Will not alter your current lifestyle in any way.
* Can be easily modified to address your changing needs.
##### Specific Bequest Language
Naming your favorite charity as a beneficiary of a specific amount from your estate is easy:
I give and devise to [ORGANIZATION NAME], located in [CITY], [STATE], the sum of $\_\_\_\_\_\_\_\_\_\_\_ to be used for its general support (or for the support of a specific affiliate, fund or program).
##### Residual Bequest Language
A residual bequest comes to the charity after your estate expenses and specific bequests are paid:
I give and devise to [ORGANIZATION NAME], located in [CITY], [STATE], all (or a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific affiliate, fund or program).
##### Contingent Bequest Language
A nonprofit or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to [ORGANIZATION NAME], located in [CITY], [STATE], the sum of $ \_\_\_\_\_\_\_ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific affiliate, fund or program).
##### Retirement Plan Beneficiary Language
You may name a nonprofit as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of your gift.
Naming a nonprofit organization as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming the charity as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support the charity free of both estate and income taxes.
* Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify the nonprofit you are supporting. The nonprofit can usually assist you with the proper language for your beneficiary designation.