When you think of making a gift to charity under your will, the "outright bequest" usually is considered first--you simply direct in your will that your entire interest in certain money, investments or property be transferred to a designated charity, such as The Bullerville Foundation.  Of course, your estate will be entitled to a charitable deduction for the full fair-market value of your gift.

An outright charitable bequest can take various forms:

• The general bequest is the most popular type of charitable bequest.  You simply leave a specified dollar amount to The Bullerville Foundation.  For example, a bequest of $10,000 is a general bequest.
• A specific bequest is another popular way to benefit the Foundation. You designate specific property you want The Bullerville Foundation to receive.  The Foundation will utilize or liquidate such property in accordance with its subsequent needs.  For example, a bequest of certain shares of stock or a vacation home is a specific bequest.
• A residuary bequest is used to give the Foundation all--or a portion of--one's property after all debts, taxes, expenses, and all other bequests have been paid.  It may augment a general or specific bequest to a charity (if the size of the estate ultimately allows) after ensuring that other beneficiaries receive their bequests prior to distribution to the charity.  For example, giving The Bullerville Foundation "the rest of the property that I own at my death" is a residuary bequest.
• A percentage or fractional bequest can be expressed as a portion of an estate or a residuary estate.  If fortune changes the size of the estate during the years after drafting the will, this bequest will change in the same proportion.  For example, a donor might leave The Bullerville Foundation 50% of the residuary estate.
• A contingent bequest is used to provide for the situation when a beneficiary dies before you, or disclaims the property.  In such case the property might pass to unwanted or unintended beneficiaries.  To prepare for such an occurrence, consider naming The Bullerville Foundation as the contingent beneficiary.

Please consult with your own attorney in regard to the applicability of these estate distribution plans to your own situation.

The Bullerville Foundation
58468 Clark Cabin Road
Rockport, WA  98283
1-800-273-2606