A legacy gift to your favorite charitable cause can come in many forms. It is important to be clear in your instructions so that your last wishes are properly carried out. Work with your estate planning attorney and explore some common options for legacy gifts, such as:
- General gift: a specific amount of money or percentage of your estate;
- Residuary gift: any remaining assets after all other requests have been fulfilled;
- Specific gift: the donation of a particular item, such as property or a vehicle;
- Contingent gift: a donation based on certain conditions being met, such as your main beneficiary passing away before you.