Legacy Gifts to the Pivot Foundation
When arranging a gift to the Pivot Foundation in your will, please feel free to consider the following sample wording. This is not considered legal advice, but can assist you when discussing these matters with your legal counsel.
Below are ways to include the Pivot Foundation in your estate plan, and the types of gifts you can make.
Residual Gift: The Pivot Foundation is given a percentage (partial, or 100%) of what remains of the estate after paying debts, taxes, expenses, and other bequests.
“I give to the Pivot Foundation ____% of the residue of my estate to be used for the general purposes of Pivot Foundation at the discretion of the Board of Directors.”
Specific Bequest: A specified sum of money or property such as real estate, art, securities, or other.
“I give to Pivot Foundation $________ [amount] or ______________ [description of property] to be used for the general purposes of Pivot Foundation at the discretion of the Board of Directors.”
Contingent Bequest: The Pivot Foundation would receive all, a share, or a percentage of the Testator’s estate only in the event of the prior death of other named beneficiaries.
“If ______________ [name of primary beneficiaries] pre-deceases methen I give to Pivot Foundation _________% of my estate, or $_______ of my estate, or _____________[description of property], to be used for the general purposes of Pivot Foundation at the discretion of the Board of Directors.”
For sample wording please consult with your lawyer, financial advisors, and Pivot Foundation staff.
Gift of Life Insurance
By making a gift of life insurance or naming the Pivot Foundation as the beneficiary of your policy, you have the opportunity to make a larger gift than otherwise might be possible, and receive immediate tax benefits against your present tax return or on your final tax return, while making a significant impact on the work the Pivot Foundation does.
For more information about gifts of life insurance consult with your lawyer, financial advisors, and the Pivot Foundation staff.