Bequests are a popular and easy way to leave a legacy for the thousands of students in Vancouver Public Schools. A bequest is simply stated in a will, living trust or trust amendment.

Charitable Bequest Benefits:
• A bequest is free of federal estate tax
• Your bequest can be changed down the road
• You can still benefit your loved ones with specific gifts
• A bequest may produce estate tax savings

Because there are many options for the type of bequest you can make, you can ensure your legacy supports the mission of the Foundation for VPS and still ensure your heirs are taken care of as you intend them to be. Bequest options:

• Specific bequest (a specific dollar amount)
• Percentage bequest (all or a percentage of an estate)
• Residuary bequest all or a percentage of a residuary estate – what remains in an estate after expenses, debts, and specific or percentage bequest have been paid)

Whatever form of bequest you choose, it is not subject to federal estate taxes and so significantly reduces the tax burden of an estate. The value of the bequest may be deducted when the taxable estate is determined, and there is no limit to the deduction.

Leaving a bequest to the Foundation for VPS can be as simple as adding a provision to your will or living trust.

Tools

Sample Bequest Letter