There are numerous benefits to charitable bequests.
A meaningful part of your legacy
A charitable bequest costs you nothing now yet gives you the satisfaction of knowing you have provided for a charity or nonprofit organization’s future. And they can be simple to establish relative to their potentially significant impact.
Flexible and simple setup
To get started, you can simply add a few lines of text to your probated will or living trust. You may also modify your bequest if your circumstances change.
Charitable bequest tax deductions
Charitable bequests could help reduce federal estate taxes because there’s no limit to the value of charitable bequest assets that can be deducted from the total estate’s value. Also, the specific assets that are counted for the charitable deduction don’t have to be cash. You can include other assets like stocks, IRAs and real estate.