A gift in your will, also known as a bequest, is a wonderful way to support Charlotte Speech and Hearing Center and a powerful statement to others of your belief in our mission. Bequests are also fully deductible for federal estate tax purposes. There are three types of bequest:
Residuary:
This bequest directs that Charlotte Speech and Hearing Center receives all or a portion of the balance of your estate. This donation is given after all necessary costs and specific bequests have been met. A residuary bequest is a gift of whatever remains in your probate estate. If you have more than one residuary beneficiary, then you would make sure that the total passing to residuary beneficiaries equals 100 percent.
Percentage:
This bequest is a fixed percentage of the value of your estate at the time of your death. While the percentage will stay fixed, the amount passing to our organization will depend on the value of all your assets upon your death.
Specific:
This is a bequest of a specific dollar amount that won’t fluctuate. This includes if your estate increased in value after you have signed your Will. Assuming your executor has sufficient assets to pay expenses, debts, taxes and the like, this bequest will not be reduced.
In conclusion, should you wish to remember Charlotte Speech and Hearing Center in your Will, we encourage you to provide the following bequest language to your attorney:
“I give, devise, and bequest all the residue, and remainder of my estate, or ____% (percentage) of my estate, or $_______(sum of money) to Charlotte Speech and Hearing Center, located in Charlotte, NC.”
Bequests provide important revenue in support of the mission of our organization. Additionally, these donations enable us to provide the highest quality programs and services to those in our care.
Please note that Charlotte Speech and Hearing Center is a non-profit 501 (c) 3 organization and its full legal name is “Charlotte Speech and Hearing Center, Inc.” The Charlotte Speech and Hearing Center’s federal tax identification number is 56-0892041.
For more information on ways to give and gift planning options, please call 704-523-8027 ext. 232.
