A charitable bequest is one of the easiest ways you can leave a lasting impact on Florida TaxWatch. A bequest may be made in your will or trust directing a gift to our organization.
Benefits of Your Bequest
Receive estate tax charitable deduction.
Lessen the burden of taxes on your family.
Leave a lasting legacy.
How Do You Make a Bequest?
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to family, friends or a charity as part of your estate plan.
Gifts by will:
“I hereby bequeath to the Florida TaxWatch Research Institute, Inc, located at 106 N Bronough St., Tallahahassee, FL 32301, [insert percentage of estate or dollar amount] to be used for [insert program of choice here]” OR ALTERNATIVELY “for general purposes as determined by the board of trustees.”
Gifts through a trust:
“Upon the death of the [insert name of recipient], the Trustee(s) shall distribute [insert “all,” amount or percentage] of the then principal and income of the Trust (other than any amount due the Recipient or the Recipient’s estate under the provisions above) to the Florida TaxWatch Research Institute, Inc, a Florida non-profit corporation, whose office is presently located at 106 N Bronough St., Tallahahassee, FL 32301, (hereinafter referred to as “the Charitable Organization”) to be used for general purposes.”
Your Bequest Options
A bequest may be made in several ways:
Gift of a percentage of your estate
Gift of a specific dollar amount or asset
Gift from the balance or residue of your estate
Making a Bequest of Your Retirement Assets
A retirement asset, such as an IRA account, makes an excellent bequest to us. If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating a charity as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.