 |
|||||
|
In addition to being one of the simplest ways to distribute your estate, your will can be a superb vehicle through which to make charitable gifts to the South Carolina Bar Foundation. The Foundation can be named as a beneficiary through a will or an amendment to the will. This amendment, called a codicil, means the entire will does not have to be redrafted. Residuary Bequest: A residuary bequest is used to give a portion of the estate property after all debts, taxes, expenses, and all other bequests have been paid. Example: I give the rest or residue of my estate (or a stated percentage of the estate) to the South Carolina Bar Foundation, Inc., a nonprofit corporation qualified under Section 501 (c) (3) of the Internal Revenue Code, located in Columbia, South Carolina, to be used for its exempt purposes. Specific Bequest: A specific bequest is another way to make a charitable gift by will. With this bequest, you simply specify a dollar amount. Example: I give $xxx to the South Carolina Bar Foundation, Inc., a nonprofit corporation qualified under Section 501 (c) (3) of the Internal Revenue Code, located in Columbia, South Carolina, to be used for its exempt purposes. Contingent Bequest: When writing a will, it is important to include provisions for the distribution of your property in the event that a beneficiary dies prior to your death, or a beneficiary disclaims the property. In anticipation of such an event, the Foundation could be named as the alternate or contingent beneficiary. Example: If (name of beneficiary) predeceases me or disclaims any interest in (describe property), I give such to South Carolina Bar Foundation, Inc., a nonprofit corporation qualified under Section 501 (c) (3) of the Internal Revenue Code, located in Columbia, South Carolina, to be used for its exempt purposes. Restricted Bequest: In the bequest provisions mentioned above, the language “to be used for its exempt purposes” is a general and unrestricted statement. If you have more specific purposes in mind, you should identify them more clearly. For example, if you wish to memorialize a family member or an honored colleague, you could establish a named fund (subject to required minimums) that will provide support for a program in which you or the named person(s) have/had a particular interest. Example: I give $100,000 to the South Carolina Bar Foundation, Inc., a nonprofit corporation qualified under Section 501 (c) (3) of the Internal Revenue Code, located in Columbia, South Carolina. This gift will be held as a permanent endowment to be known as the (insert name) Fund, to be administered in accordance with the South Carolina Bar Foundation policies for the benefit of (insert the purpose for which the gift is to be used). If you do include the Foundation in your will, please consider letting us know so that your gift can encourage others. If you are interested in making a restricted request, please contact Shannon Willis Scruggs at 803-765-0517. |
The Weinberg Society
Estate Gifts MM "Rusty" Weinberg Jr.
Bequests Anonymous (multiple) Jack D. Griffeth Shannon Willis Scruggs Robert S. Wells Ethel E. Weinberg
|
