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There are two ways to make a bequest:
Specific: You can give a specific dollar amount or specific assets, such as securities, real estate, or tangible personal property.
Residuary: You can give the �����Ƶ all or a portion of your estate that remains after all your specific bequest provisions have been fulfilled.

The following language may be used when creating a bequest provision for the �����Ƶ:
“To the American �����Ƶ of Arts and Sciences in Cambridge, Massachusetts, I give (______ dollars or ______% of the residue of my estate) for its general purposes.”

When left to heirs, retirement plans may be subject to both estate and income taxes, which can amount to a substantial portion of the assets.
Many people elect to avoid these taxes by designating a charitable beneficiary of their retirement accounts.

Individuals utilizing a donor-advised fund for philanthropy may designate the �����Ƶ to receive either a fixed sum or a fixed percentage of a remaining account balance as a planned gift.

A charitable gift annuity allows an individual to make a charitable gift but retain a fixed income stream for life. An income tax deduction can be claimed for the present value of the �����Ƶ’s remainder interest.

With the passage of the SECURE Act 2.0 in 2022, you can now use a Qualified Charitable Distribution to establish a charitable gift annuity.

A charitable remainder trust allows you to make a charitable gift but retain a variable income stream (for yourself and/or others) for life or a fixed number of years. You can also claim an income tax deduction for the present value of the �����Ƶ’s remainder interest.