LEAVING A BEQUEST
WE gratefully accepts gifts made through a provision in a will.
These gifts may be unrestricted or may be designated by you for a specific purpose. A bequest qualifies for an estate tax charitable deduction, thereby reducing federal and state estate and inheritance taxes. Through a bequest, you can make it possible for St. Thomas Armenian Church to receive monies that would otherwise have to be paid in taxes by your estate to the state or federal government.
A specific bequest is a gift of a stated amount of cash or specific property such as appreciated securities, works of art, and artifacts.
The following language is suggested for use in making a cash bequest:
“I give and bequeath the sum of $_______ to St. Mary Armenian Church,” or “I give and bequeath to St. Mary Armenian Church a sum equal to ________ percent of my residuary estate.”
In making a gift of property, the following language is suggested:
“I give and bequeath to St. Mary Armenian Church the following property owned by me at the time or my death: (description of property).”
A residuary bequest is a gift of all or part of the property remaining in your estate after the payment of debts, taxes, funeral, administration expenses, and specific bequests to other beneficiaries. The following language is suggested:
“I give, devise and bequeath to St. Mary Armenian Church all the rest, residue, and reminder of my estate.”