Take care of your loved ones in your estate plans! The beginning of a new season is the perfect time to make plans, including ones that will benefit those you care about after your lifetime. After special individuals in your life are taken care of, a gift through your will—called a bequest—ensures your support of your charitable interests, such as the Boys and Girls Club of East County Foundation.
Different ways to make a bequest
There are several common forms of bequests in which you can designate the BGCEC Foundation to receive a specific asset or dollar amount, a percentage of your estate, or a portion of what remains in your estate after all other distributions have been made.
- The residuary bequest means we receive either everything remaining in your estate or a designated percentage of your estate after all necessary costs, all general bequests, and all specific bequests are satisfied. This type allows you the flexibility of making several primary bequests while still assuring you that we will be a secondary beneficiary of your estate.
- When making a specific bequest, you are directing that a precise sum or particular property be transferred to us, such as stock or other designated property. This type of bequest is ideal for individuals wishing to give particular stocks or amounts.
- The percentage bequest states that we will receive a certain predetermined percentage of your estate (like 10% or 25%).
Do you know who your beneficiaries are?
In your day-to-day life, you may occasionally misplace your keys or forget a $5 bill in a coat pocket. There’s no excuse, however, for “losing” a beneficiary. If you can’t remember the beneficiaries of your retirement accounts, life insurance policies, and other financial accounts—it’s time to examine all of those documents. It’s very important to know who you’ve named, but you should also make sure the beneficiary designations are updated regularly so that they are coordinated with your overall estate plan.
Find Out More!
Please contact your advisor to help with questions on your estate plans.
For more information about the Boys and Girls Clubs of East County Foundation, please call
619-440-1600 and ask for our Executive Director, Forrest Higgins.