Bequest

What is a Bequest?

A gift to a church or Christian ministry made at the time of death.  A bequest is the simplest type of planned gift to make and one of the easiest to implement. Bequests are made through a will or trust distribution.  MBF may be named to receive and manage a bequest on behalf of the church or Christian ministries designated by the donor.

The Need

Many people would like to increase their support of a church or Christian ministry. However, because of the need to provide for current living expenses and health care costs, they are not able to comfortably make greater lifetime gifts.

The Solution

Donors can retain full ownership and use of property during life and still benefit ministries in the future by planning a bequest to be made through a will or trust as a part of their estate plan.

The Benefits

Gift to church or Christian ministries – When the will or trust estate is settled, ministry receives the cash or property designated by the donor.

Tax Deduction – The amount given to charity is not subject to federal estate tax.

Flexible – Donors are able to use and control the property during their lifetime.

The Donor

Bequests are gifts that anyone can make.

The Details

Specific Asset Bequests – Transfer of a specific item to ministry such as a piece of real estate or a vehicle.

Specific Amount – Distribution of a specific dollar amount to ministry.

Bequest of a Percentage of the Residue – Provision for a church or other Christian ministries to receive a fractional or percentage proportion of what is left of the estate after specific bequests have been made.

Timing - A bequest is made following the donor’s lifetime at the time that probate proceedings on a will are completed or when a trust estate is distributed.

Want More Information?

A printable version of this information is available by downloading this PDF document

Sample Bequest Language is available.

MBF may be named to serve as personal representative of a will or as trustee of a revocable living trust when a church or Christian ministry is named as one of the beneficiaries.