Bequest

How it works

1. You can provide now for a future gift to the Red Cross by including a bequest provision in will or revocable trust.
2. Your will or trust directs assets to your heirs.
3. Your will or trust directs a bequest to the Red Cross for the purpose(s) you specify.

Benefits

• Your assets remain in your control during your lifetime.
• You can modify your bequest if your circumstances change.
• You can direct your bequest to a particular purpose (be sure to check with the Red Cross to make sure your gift can be used as intended).
• There is no upper limit on the estate tax deductions that can be taken for charitable bequests.
• You can have the satisfaction now of knowing that your bequest will support the Red Cross in the way you intended when you are gone.

Sample language for Bequests:

• Unrestriced Gift: A gift that can be used where need is greatest.
  I give, devise, and bequeath to the American Red Cross, Greater Cleveland Chapter, Cleveland, Ohio, the sum of $_______* for its general purposes.
• Gift for a Specific Purpose: A gift that is to be used for a specific purpose.
  I give, devise, and bequeath to the American Red Cross, Greater Cleveland Chapter, Cleveland, Ohio, the sum of $_______* to be used for [state specific purpose, program or activity].
• Residuary Bequest: Leaves any remainder after all other bequests have been paid.
  I give, devise, and bequeath to the American Red Cross, Greater Cleveland Chapter, Cleveland, Ohio, ________ percent of the residue of my estate to be used for it's general purposes.
• Contingency Gift: Takes effect only if a primary intention can't be met.
  In the event that ____________ predeceases me, I give, devise, and bequeath his/her bequest or share to the American Red Cross, Greater Cleveland Chapter, Cleveland, Ohio, to be used for its general purposes.

* Rather than leaving a certain sum, you can include language that refers to a percentage of your estate or a description of the property you wish to give.

NOTE: Bequest provisions designated for a specific program or activity require additional language.