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Would you like to be reasonably sure you'll have the funds you need
for the rest of your life? Do you want to assure financial security
for loved ones who may survive you? What about the secure feeling
that you will have enough savings to cover unexpected emergencies?
"Estate
planning" is the process that makes wishes into realities.
Estate planning
starts with acquisition of property. It includes good management
of your property to take you and your heirs safely through life's
potentially costly pitfalls (disability, premature death, expensive
emergencies). It is wise to also make provisions for distribution
of property at death.
For each of
these steps, different planning vehicles are useful. You may be
familiar with some, such as life insurance or joint ownership. New
ones may become known to you as you look for the best ways to plan
for your needs and those of your loved ones.
Wise estate planning can also assist you in making gifts to favorite
organizations such as Goodwill Columbus. It can help you decide
what, when and how to give. You can often help perpetuate causes
you support while, in some cases, enhancing your economic security.
Many people use their Will to support important causes or organizations.
Such gifts are very meaningful, because they allow you - even after
your death - to continue to support causes that are important to
you. You can also use your Will to memorialize someone who is especially
important in your life through a bequest made to Goodwill Columbus
in their name. Such gifts - whether direct bequests or bequests
made to honor others - are a great way to express your values and
further an important cause, leaving a legacy of life for those who
follow you.
If you would
like to make a bequest to Goodwill Columbus, here is sample wording
that you can use. Please consult your attorney for preparation of
any addition or changes to your will or trust.
A specific
bequest is a bequest of a specific item or dollar amount.
An example of a specific bequest might be providing that your first
edition Gone with the Wind, signed by Margaret Mitchell be
given to your sister, Ashley at your death.
Sample wording
you can use to make a specific bequest to Goodwill Columbus:
"I give,
devise, and bequeath to Goodwill Columbus, located in Columbus,
Ohio, or its successor organization, a not-for-profit organization
as described in section 501c3 of the internal revenue code $__________________."
A percentage
bequest is a bequest of a certain percentage of your estate
or of another asset. An example of a percentage bequest might be
providing that, upon your death, your house be sold and that each
of your four children receive one-fourth of the net proceeds.
Sample wording
you can use to make a percentage bequest to Goodwill
Columbus:
"I give,
devise, and bequeath to Goodwill Columbus, located in Columbus,
Ohio or its successor organization, a not-for-profit organization
as described in section 501c3 of the internal revenue code ________________
percent of my estate."
A residual
bequest is a bequest of all or a portion of the remainder
or residue of the estate after specific and other bequests have
been distributed. An example of this type of bequest might be providing
that everything that remains after all previous bequests have been
satisfied should be given to Goodwill Columbus.
Sample wording
you can use to make a residual bequest to Goodwill Columbus:
"All the
residue of my estate, including real and personal property, I give,
devise and bequeath to Goodwill Columbus, located in Columbus, Ohio
or its successor organization, a not-for-profit organization as
described in section 501c3 of the internal revenue code."
Goodwill Industries
welcomes many kinds of gifts to support its work helping people
with disabilities lead fuller, more productive lives.
While
charitable deductions to qualified organizations such as Goodwill
Columbus are generally tax-deductible, the deductibility of any
particular contribution under your individual circumstances is a
question properly addressed to your tax advisor.
Goodwill
Columbus
Accounting Department
1331 Edgehill Road
Columbus, Ohio 43212
Phone: 614.294.5181
Fax: 614.294.6895
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