Donors may make charitable gifts by naming Alabama Wildlife Center as a beneficiary in their wills. The federal government encourages these gifts or bequests by allowing an unlimited estate tax charitable deduction. In addition, a charitable bequest may place your estate in a lower estate tax bracket.
To make a bequest to Alabama Wildlife Center, the following language will be helpful to your lawyer:
I give, devise, and bequeath to Alabama Wildlife Center the sum of _____________ (or otherwise describe the gift or specify a percentage of the estate).
There are three ways you can make a bequest:
2. Residual Bequest: Your estate will pay all debts, taxes, expenses, and specific bequests. The remaining amount–the residual–will be transferred to Alabama Wildlife Center.
3. Contingent Bequest: You can ask that Alabama Wildlife Center receive all or a portion of your estate only under certain circumstances. For example, you can name Alabama Wildlife Center as a beneficiary of your estate only if there are no surviving close family members. Childless couples sometimes provide for the entire estate to go to the surviving spouse, or if the spouse does not survive, to Alabama Wildlife Center.
We make no claims regarding the accuracy of the above information or the tax consequences stemming from your use of it. Please consult with your own tax, legal, or financial planning advisor.