Gift by Bequest

A bequest is an excellent choice for those who want to assist the Foundation but will not make a large immediate gift. Donors who choose this type of gift will reduce their estate subject to tax.

Types of Bequests

• Specific Bequests
  Outright gifts of money, securities, or property. Example: A supporter bequeaths $10,000 to the Foundation without restriction. The funds would be added to the Foundation's endowment in the name of the donor.
• Residuary Bequests
  Allow the remainder of an estate to be left to designated persons or charities after all bequests have been made. Example: A donor bequeaths 50% of all the residue of his entire estate to the Foundation for the creation and maintenance of a rose garden. The fund would be used to create a rose garden named for the donor, with the balance put in a named endowment fund to maintain that garden.
• Contingent Bequests
  Are effective only in the event that all other bequests fail. Example: A supporter leaves his entire estate to the Foundation, provided his wife, children, and grandchildren, fail to survive him.

Tax Tip

If you make a bequest to the Foundation, your taxable estate is reduced by 100% of the value of the bequeathed property. The tax savings could be as high as 35% of the value of the bequest, depending on the size of your taxable estate.

Benefit to the Foundation

The Foundation adds the gift to its endowment fund which provides annual support to the Frederik Meijer Gardens & Sculpture Park.

Note: Any estate tax savings will depend on the Estate tax rules in effect on the date of death.