What is a bequest?
A bequest is a gift from your estate — a transfer of cash, securities or other property made through your estate plans — and can be made to a charity like St. Jude Children's Research Hospital.
A bequest can be made for a specific amount, for a percentage of your estate or for all or a portion of what is left after you have made bequests to your family. To make a gift from your estate, you must sign a new will or living trust instrument, add a codicil to your present will, or make an amendment to your present trust instrument.
How does a bequest work?
- You retain control and use of your assets during your lifetime.
- You may modify your bequest if your circumstances change.
- Gifts from your estate may be exempt from federal estate taxes.
- A bequest costs nothing now, yet gives you the satisfaction of knowing you have provided for a charity’s future.
What are common types of bequests?
- Specific: A gift of a specific amount or item/asset from the estate to St. Jude. See sample bequest language for this type of gift.
- Residual: A gift to St. Jude made from the residue of the estate after all other wishes are fulfilled, or a percentage of the estate.
- Contingent: A gift to St. Jude only in the event that the designated beneficiaries (usually children or family members) are unable to accept the estate gift.
- Perpetual: A series of gifts to St. Jude over a period of time.
How can I leave St. Jude in my estate plan as part of my legacy?
Please see your legal and/or tax advisor for more information and to determine if a charitable bequest to/for St. Jude is right for you.
*POD, payable on death, is typically used to avoid probate on a bank account, checking, savings, money market or CD. A will in which you name beneficiaries has to go through probate.
**TOD, transfer on death, is similar. You can bequeath stocks, brokerage accounts or bonds without them having to pass through probate.
Why St. Jude?
Families never receive a bill for treatment, travel, housing or food — so they can focus on helping their child live.
Treatments invented at St. Jude have helped push the overall childhood cancer survival rate from 20% to more than 80% since it opened in 1962. St. Jude won't stop until no child dies from cancer.
St. Jude shares its discoveries with doctors and scientists in your community and around the world, so every child saved at St. Jude means thousands more children are also saved.
Tax ID Number:
We are a tax-exempt, charitable institution listed in the Federal Internal Revenue Service Publication #78, "Cumulative List of Organizations," revised IRS Code 501(c)(3).
You might be interested in: