Heritage
Charitable Will or Bequest
A simple way for you to support Huntsville Hospital Foundation's mission is to leave us a bequest in your will, living trust or with a codicil. Making a gift by bequest allows you to continue to use, during your lifetime, the property you will leave to charity.
Benefits of a bequest
- Receive an estate tax charitable deduction
- May reduce the burden of taxes on your family
- Leave a lasting legacy to charity
Bequest Benefits
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or Huntsville Hospital Foundation as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Here are some of the ways to leave a bequest to Huntsville Hospital Foundation
- Include a bequest to Huntsville Hospital Foundation in your will or revocable trust
- Designate Huntsville Hospital Foundation as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Huntsville Hospital Foundation as a beneficiary of your life insurance policy
Types of Bequests
There are a number of ways you can make a bequest to Huntsville Hospital Foundation
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Huntsville Hospital Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Huntsville Hospital Foundation.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Huntsville Hospital Foundation.
Contact us
If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a bequest to Huntsville Hospital Foundation as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.