An excellent way for you to support Baptist ministries is to leave us a Bequest in your Will, Living Trust or with a codicil. One significant benefit of making a gift by Bequest is that it allows you to continue to use the property you will leave to a ministry during your life. Another benefit is that you are able to leave a lasting legacy.
Types of Bequests
There are a number of ways you can make a Bequest to Georgia Baptist Foundation.
Specific Bequest. A specific Bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the Georgia Baptist Mission Board.
Percentage Bequest. Another kind of specific Bequest involves leaving a specific percentage of your overall estate to ministry. For example, you may wish to leave 10% of your estate to your local church.
Residual Bequest. A Residual Bequest is made from the balance of an estate after the Will or Trust has given away each of the specific Bequests. A common Residual Bequest involves leaving a percentage of the residue of the estate to various ministries. For example, you may wish to leave 30% of the residue of your estate to one of the many Baptist causes.
Contingent Bequest. A Contingent Bequest is made to a ministry only if the purpose of the primary Bequest cannot be met. You may for example, leave a specific piece of property to a relative (e.g. a vacation home). However, if the relative is not alive at the time of your passing, the Bequest language can be written in such a way that the specified property will then go to one of the Baptist causes.
Benefits of a Bequest
A Bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a Bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a Bequest to fund Baptist work in your estate plan. We have provided some basic Bequest language
to assist you and your attorney.
Our goal is to offer you the best God-honoring solution for your financial legacy. If you have any questions about leaving Bequest, or any other Giving solution, please feel free to contact us
. It would be our privilege to assist you and answer any questions you may have.
If you have already been so generous as to include a Bequest for the Georgia Baptist Foundation in your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.