Legacy Gifts - Gifts in Wills
In addition to filling an important role in providing for the future financial security of your family and others, your will or living trust can offer a way to make thoughtful charitable gifts as part of your long-range estate and financial plans. It can be satisfying to know that a portion of your property will be put to good use in the future.
A gift made through a will or living trust can be convenient to arrange. A simple provision or amendment prepared by your attorney at the time you make or update your will or trust is all that is necessary. Gifts included in wills and living trusts are popular because they are flexible, easy to arrange, and may be changed with your life circumstances.
Ways to give through wills and trusts
- Make a gift of a specific amount. A gift of a particular amount may be designated for general use or to fund a special need.
- Provide for a gift of a particular property. Real estate, stocks, and other items of value are examples of properties that can be used to fund charitable bequests.
- Designate that a percentage of your estate be given to PSR-LA through your will or living trust.
- Give the remainder, or residue, of your estate—that is, what remains after all other bequests to friends and loved ones are satisfied.
- Name charitable interests to receive a bequest in the event other heirs are not there to receive their legacies.
There is no limit on amounts deductible from federal gift and estate taxes for charitable gifts made by will or trust, so no tax will be due on assets given in this way. To plan a charitable bequest, inform your attorney of your wishes and ask for advice regarding the best form for your gift.
If you decide to include a gift in your estate plans, our legal name is Physicians For Social Responsibility Los Angeles Chapter, Inc. and our tax ID number is 95-3956136.