Including PMA in your Will is a great way to give without it affecting your current financial situation since it’s a future gift. A bequests is tax efficient because it potentially saves a lot of tax at your passing. Careful crafting of the Will may save you Federal and State estate tax after your death, while leaving it available to you while you are alive in case you need the money. More people than ever are making their wills and are ensuring their favorite causes will be supported. You can include your favorite charity in your will or living trust as the recipient of a gift or bequest. Here are some of the ways you can make a bequest to a charitable organization:
- Charitable bequests and transfer-on-death gifts - people usually choose this method because they consider their estates to be modest in size and they are simple to set up.
- A percentage of your total estate - with this approach, your gift adjusts with the changes in the size of your estate.
- The residue or a percentage of the residue of your estate. After making gifts to your loved ones, you may designate the residue to a charitable organization. With this approach, your gift adjusts with the changes in the size of your estate.
- A gift of a specific amount.
Here is sample language you can share with your attorney: "I give ___% of my estate (or $___) to People's Memorial Education Fund, a Washington State nonprofit corporation. People's Memorial Education Fund's office is located at 2011 1st Ave N, Seattle, WA 98109."
People's Memorial Association is a registered 501(c)3 nonprofit organization under the name "PMA Education Fund". All gifts are fully tax-deductible as allowed by law EIN: 68-0621888.
Please let us know about your plans! By informing People's Memorial Association of your legacy gift, you give us the chance to thank you for your generosity and determine what is most important to you for the future of the organization. Please call us at 206.325.0489 or email us at director@peoplesmemorial.org.
Information on this website is not intended to be tax or legal advice applying to your specific situation. Advice from a qualified financial advisor should be sought when considering a gift.
