Bequest
A bequest is a gift you can make to support Pinellas Education Foundation Inc.'s mission in your will or living trust or with a codicil.
A bequest allows you to continue to use the property you will leave to us during your life and make a lasting impact on our work after you are gone.
Benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Create a lasting legacy for learning
Charitable bequest video
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Pinellas Education Foundation Inc. as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Pinellas Education Foundation Inc.
- Include a bequest to Pinellas Education Foundation Inc. in your will or revocable trust
- Designate Pinellas Education Foundation Inc. as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Pinellas Education Foundation Inc. as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Specific Bequest - A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Pinellas Education Foundation Inc..
- Percentage Bequest - Another kind of bequest involves leaving a specific percentage of your overall estate to our organization. For example, you may wish to leave 10% of your estate to Pinellas Education Foundation Inc..
- Residual Bequest - A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to our organization. For example, you may wish to leave 30% of the residue of your estate to Pinellas Education Foundation Inc..
