Comparative Guide to the Features of Nine Types of Planned Gifts

Suggested Bequest Wordings

Here are some suggested bequest wordings for your attorney to use in drawing up your will or amending your revocable living trust. 

Your attorney should help you determine which may be right for you. 

"I give to St. Gregory's Abbey, a Not For Profit Corporation located in Shawnee, Oklahoma,____% of the rest, residue and remainder of my estate." Federal ID #73-117-4716

Tax Efficiency of Your Bequest

In order to reduce possible income taxes due on the estate, the attorney may add, "This gift shall be paid out of 'income with respect of a decedent,' as that term is defined in the Internal Revenue Code, to the fullest extent possible. If such 'income with respect of a decedent' as valued for U.S. tax purposes is insufficient to pay this bequest, then the bequest shall be paid to the extent necessary out of the general assets of my estate."