Including a charitable bequest as a part of your will is a great way for you to provide long-term support for Crossroads UMC while also effectively managing your estate. Making a charitable bequest is easy. If you want to leave a bequest to Crossroads UMC, you must specifically do so in a will or trust. Your will or personal trusts are legal records of your wishes regarding how your assets should be handled at your death. Instructions regarding the dispensation of your assets are called bequests.
Charitable Bequests are not subject to estate or inheritance taxes, therefore reducing the tax burden of an estate. Charitable bequests also provide flexibility because they may be changed at any time. Your estate will be entitled to a charitable deduction for the full, fair market value of your gift. The Legacy Ministry of Crossroads UMC can assist you and your attorney with standard legal language necessary to establish your charitable bequest.
With this type of bequest, you simply leave a specified dollar amount (e.g., $25,000) to Crossroads UMC.
A bequest of this type involves the designation of specific property (e.g., a home, a farm, or shares of stock) that you want Crossroads UMC to receive.
Through a residuary bequest, Crossroads UMC will receive the remainder of your estate after all liabilities and other bequests have been paid. It may augment a general or specific bequest to Crossroads UMC if the size of the estate allows, or may ensure that other beneficiaries receive their bequests prior to distribution to Crossroads UMC.
You may direct that Crossroads UMC receive a percentage of your estate or residuary estate. In this case, if the size of your estate changes, the bequest will change proportionately.
It is important to anticipate a situation in which a beneficiary might die before you or choose to disclaim the property. To prepare for such an occurrence, consider naming Crossroads UMC as the contingent beneficiary.
Return to Ways to Give