Bequests
There is a way to pass assets to your family with significant estate tax savings, while at the same time making a gift to fund the important work of the FAIR. This financial instrument is known as a charitable lead trust.
Bequests provide you, the donor with the opportunity to meet your financial goals during your lifetime and also support FAIR. Gifts made to FAIR in the form of bequests in wills and living trusts have been vital in building FAIR’s strength as an organization. In a farsighted decision made early in the organization’s life, FAIR’s board decreed that all bequests were to be put into FAIR’s endowment fund. The earnings from the endowment fund are used as a base of support for FAIR’s current operating budget but its principal remains intact and grows over time as more bequests are received and the Endowment’s financial assets appreciate. For these reasons bequests in wills and estates are among the most important gifts a FAIR supporter can make.
You can give almost any kind of asset through a bequest, including cash, securities, an interest in real estate (such as a residence), tangible personal property (such as works of art or antiques) or the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan.
In addition, a bequest is deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.
If your bequest is general:
"I hereby give, devise, bequeath to the Federation for American Immigration Reform, a non-profit institution incorporated in the District of Columbia, and now of 25 Massachusetts Ave, NW, suite 330, Washington, DC 20001 the sum of _____ dollars or _____ percent of my residual estate or particular item."
If you have already written your will or trust, you can amend it without rewriting the entire document. Your attorney can prepare a codicil that adds a new bequest while reaffirming the other terms of your will.
If you plan to make a charitable gift to FAIR by will, meet with your attorney to discuss and update your will and please notify us so that we ensure your wishes can be fulfilled. Your notification will be treated confidentially. If you prefer to remain anonymous, FAIR will honor this request.
If you wish to name FAIR as a residual or contingent beneficiary of your bequest or you want to create a bequest that is specific please contact us at:
The Seventh Generation Legacy Society
Danielle A. Tyler, Planned Giving Officer
1-866-722-0132 and 7Glegacy@fairus.org
