Bequest Overview

Bequest Overview

Bequest Benefits
A bequest is one of the easiest ways to make a gift to charity.  It 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.


Types of Bequests
There are a number of ways you can make a bequest for Holy Trinity Seminary:

  • General Bequest
    A general bequest is probably the most popular type of bequest.  You simply leave a specified dollar amount to charity.  For example: A bequest of $10,000 is a general bequest.
  • Specific Bequest
    A specific bequest involves making a gift of a specific asset such as real estate, a car or other property.
  • Percentage Bequest
    Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity.


Click here for specific wording options for your will or trust.

  • 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.
  • Contingent Bequest
    A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met.  For example, you could leave specific property, such as a home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the property specified will go to charity.