Charitable bequests are a tax-free way to give to important organizaions without impacting your current income. You can give generously to Glaucoma Research Foundation and lower the tax burdens on your heirs. It’s a great way to help others, protect your beneficiaries, and ensure your legacy.
For Anna, it meant a chance to continue to do good works that helped other people after she died. When her husband Ed was diagnosed with glaucoma, both their lives changed. Anna was grateful to the people who helped them adjust to a new reality. After Ed passed, she amended her will to bequest a grant to Glaucoma Research Foundation, as a way of giving back, and helping to find a cure. It was a gift of love to Ed, in his honor, and for everyone who came after. The work she did in life continued even after her passing. She made a difference.
You can, too.
As you review your estate plans, you may come across assets that will generate heavy tax burdens for your family. Such items may be subject to both income taxes and inheritance taxes.
These taxes can be lessened by a charitable donation set up through your estate. In most cases, bequests are deducted in full from any estate tax.
This allows you to make a donation that doesn’t impact your current income level. And it is good for Glaucoma Research Foundation, because it ensures that we have the ability to continue our important work for many years to come.
Everyone who wants to give has a different economic and social circumstance. We understand that, and want the bequest process to be as easy and as unburdensome on you as possible. Bequests, designated in your will for Glaucoma Research Foundation, may be structured in several ways.
A specific bequest is the most common. You simply designate a specific amount of money, a specific asset, or a specific percentage of your estate to Glaucoma Research Foundation. In this way, the Foundation essentially acts as one of your heirs, and you have control over exactly how much you wish to donate.
A residual bequest makes sure that, if circumstances change between the time the bequest is made and your passing, any fluctuations or hardship will not impact your heirs. The bequest benefits Glaucoma Research Foundation only after all debts, expenses, taxes, and other bequests have been paid from your estate.
A contingent bequest is also very common. This results in a gift from your estate to Glaucoma Research Foundation in the circumstance that other beneficiaries cannot accept it. For example, Anna’s older brother wanted to leave his estate to his sister, but if Anna and Ed predeceased him, he would leave his money to her cause. He made a stipulation that “If (my sister) should predecease me then I leave my entire estate to Glaucoma Research Foundation.” This way, you know that even in the most unfortunate of circumstances, the money you have earned in a lifetime can still do good and help patients with glaucoma.
Your generous bequest helps the Foundation in many ways. It allows us to continue our:
Together, we can make lives better and brighter. We’ve included a few links here to get you started: