A bequest, as part of a will or living trust, is the most common of all planned gifts. A codicil can be easily added to an existing will. Large or small, a bequest makes a significant difference in the lives of Glenwood children.
There are several different kinds of charitable bequests:
- General Bequest – The most familiar type of bequest, which specifies a designated sum to Glenwood.
- Percentage Bequest – A percentage bequest states that Glenwood receives a certain percentage of your estate.
- Specific Bequest – Specific property, such as real estate, securities, tangible personal property or cash be given to Glenwood.
- Residuary bequest – Glenwood receives either everything remaining in your estate or a designated percentage of your estate, after all costs, general bequests, and all specific bequests are satisfied.