There are many ways to make a planned gift, but bequests offer the simplest and most popular form of estate giving. Many assets can be transferred to CVNM by bequest. The gift can be made through a will or a revocable trust established during your lifetime. Bequests can take multiple forms:
- a specific sum of money (I leave $10,000 to CVNM)
- a percentage of one’s estate (I leave 5% of my estate to CVNM)
- a contingency (I leave everything to my spouse/children, but if he/she/they predecease me then…)
- a remainder (After other estate commitments are paid, I want the remainder to go to CVNM)
Sample bequest language:
“I [name], of [city, state, zip], give to CVNM, located in Santa Fe, New Mexico with federal tax ID #xxxxx, [written dollar amount/ percentage of the estate/ description of the property], for its unrestricted use and purpose.”
Gifts by Beneficiary
Cash or certain other tangible assets can also be transferred through a retirement account, life insurance plan, bank account, or other asset. All it takes is naming CVNM as a beneficiary. This is one of the easiest ways to make a legacy gift, as it doesn’t require you to have an estate plan or hire an attorney. It also allows for flexibility, as you can change your beneficiary designations at any time.
If you have a gift in mind for a specific purpose or program, or have questions about leaving a legacy, please contact CVNM’s Director of Philanthropy, Liz Lee, at (505) 920-0786 or email@example.com.