Leaving instructions in your will for a gift to The Lisa Colagrossi Foundation is the simplest way to make a significant and lasting gift to support the fight against Brain Aneurysms – and it won’t put a strain on your current income.
Estate tax deduction
By leaving a gift to TLCF in your will (also called a bequest), you will provide your estate with a charitable tax deduction that could result in a lower tax bracket. A bequest can ensure that assets you have worked hard to accumulate over the years will be used to support things you care about long after your lifetime. It is important for you to consult tax and legal advice to complete your bequest; however, as a general rule you will find the following three types of bequests:
Specific Bequest
A Specific Bequest permits you to determine the exact amount of cash, property or other assets you wish for The Lisa Colagrossi Foundation to receive. To include a specific bequest to TLCF, we recommend that you incorporate the following language into your will or living trust:
“I give and bequeath to The Lisa Colagrossi Foundation, a nonprofit corporation, having its principal offices at P.O. Box 13 Frankenmuth, MI. 48734, the sum of $________, for its general purposes.”
Residuary Bequest
A Residuary Bequest permits you to leave a percentage of the remainder of your estate to The Lisa Colagrossi Foundationafter all of your specific bequests have been honored. To include a residuary bequest to TLCF, we recommend that you use the following language:
“I give and bequeath to The Lisa Colagrossi Foundation, a nonprofit corporation, having its principal offices at P.O. Box 13, Frankenmuth, MI. 48734, ____% of the residue of my estate, for its general purposes.”
Contingent Bequest
A Contingent Bequest permits you to direct that a bequest be made to The Lisa Colagrossi Foundation should your named beneficiaries not survive you. To include a contingent bequest to TLCF, we recommend that you use the following language:
“If the above-named beneficiary (beneficiaries) should predecease me, then I bequeath to The Lisa Colagrossi Foundation, a nonprofit corporation, having its principal offices at P.O. Box 13, Frankenmuth, MI. 48734, such property of my estate as had been intended for such person(s).”