TYPES OF BEQUESTS

There are a number of ways you can make a bequest to the Whitman County Historical Society.
 

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, stock or a gift for a specific dollar amount. 

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to the charity. For example, you may wish to leave 10% of your estate.

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.

 

BEQUEST BENEFITS

 

A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
 

BEQUEST LANGUAGE

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Whitman County Historical Society in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to the Whitman County Historical Society, we recommend the following language:
 

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Whitman County Historical society, a nonprofit organization located at 623 N Perkins Ave, Colfax, WA 99111, Federal Tax ID #23-7228130, for Whitman County Historical Society general use and purpose. (Or you can designate a location, such as: Pullman Depot Heritage Center, Perkins House, Roy Chatters Museum, Archive, Holy Trinity Church)

2. Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the Whitman County Historical Society, a nonprofit organization located at 623 N Perkins Ave, Colfax, WA 99111, Federal Tax ID #23-7228130, for Whitman County Historical Society general use and purpose or designated project.

3. Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the Whitman County Historical Society, a nonprofit organization located at 623 N Perkins Ave, Colfax, WA 99111, Federal Tax ID #23-7228130, for Whitman County Historical Society general use and purpose or designated project.

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4. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to the Whitman County Historical Society, we recommend the following language:
 

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Whitman County Historical Society, a nonprofit organization located at 623 N Perkins Ave, Colfax, WA 99111, Federal Tax ID #,23-7228130 for Whitman County Historical Society general use and purpose or designated project.

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5. Residual Bequest
 

I hereby give, devise and bequeath to the Whitman County Historical Society, a nonprofit organization located at623 N Perkins Ave., Colfax, WA 99111 , Federal Tax ID #23-7228130, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Whitman County Historical Society general use and purpose or designated project.