We hope you’ll consider including a gift to the Anne Carlsen Center in your will or living trust. Your gift can be made as a percentage of your estate or you can make a specific bequest by giving a certain amount of cash, securities or property and, after your lifetime, the Anne Carlsen Center receives your gift. To make a charitable bequest, you need a current will or revocable living trust.
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense. Emergencies happen, and we know you need to make sure your family is financially taken care of first. Including a bequest of a percentage of your estate ensures that your gift will remain proportionate no matter how your estate’s value fluctuates over the years.
Profile of A Giver of This Gift
- You want to support the Anne Carlsen Center after your lifetime.
- You have a will or living trust, or are ready to create one.
- You are young or old, wealthy or middle class.
- You want to make a charitable gift while ensuring your family is taken care of first.
- You want to maintain the flexibility to change your mind at any time should you choose to.
- You want estate tax relief.
Is This Gift Right For You?
A charitable bequest works for anyone who would like to support the Anne Carlsen Center in the future. Because you can change your mind at any time and make your gift in relative proportion to bequests to family and friends, this type of gift has universal appeal for any or all age groups and income classes.
Benefits of This Gift
- Simplicity – Just a few sentences in your will or trust are all that is needed. The official bequest language for the Anne Carlsen Center is: “I give, devise, or bequeath to the Anne Carlsen Center Foundation, a North Dakota organization, for its general purposes, all (or a fraction) of the rest, residue, or remainder of my estate, whether real or personal.”
- Flexibility – Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
- Versatility – You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
- Tax Relief – If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
How to Make this Gift
1.) Choose what you would like to give – Pick from one of these four options.
A specific bequest gives us a particular piece of property. If you disposed of the property before your death, we won’t receive your intended gift because we cannot claim any other property.
A general bequest gives us a stated sum of money. If there is insufficient cash in your estate to cover the bequest, other assets will be sold for cash to honor your wishes for us.
A residuary bequest gives the “rest, residue and remainder” of your estate, or, more commonly, a percentage of the residue after all other bequests, debts and taxes have been paid.
A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if not, the funds would then go to the Anne Carlsen Center.
2.) Decide how you would like the Anne Carlsen Center to use your gift – Choose from one of these three options.
An unrestricted bequest allows us to use the assets in the most beneficial way according to the needs of ACC.
A restricted bequest allows you to specify how we are to use the funds such as for programs or a specific events. Contact us in advance to be certain your intent can be fulfilled.
An endowed bequest allows you to restrict the principal of your gift so we can use only a small portion each year, typically allowing the fund to last forever.
3.) Meet with your estate planning attorney.
Whether you need to create a will or trust, or simply update an old document, you’ll want to seek the help of an estate planning attorney.
The official bequest language for the Anne Carlsen Center is: “I give, devise, or bequeath to the Anne Carlsen Center Foundation, a North Dakota organization, for its general purposes, all (or a fraction) of the rest, residue, or remainder of my estate, whether real or personal.”
4.) Let us know of your plans.
Please contact the Anne Carlsen Center Foundation to let us know when you have made plans for such a gift. We would love the opportunity to thank you for your generosity and if you wish to keep your gift anonymous, we are happy to honor your requests.
For More Information
We understand these gifts are complicated, that’s why we would be happy to work with you and your advisors to discuss a potential gift that meets your financial goals while also supporting our mission. You are not alone in making these life-impacting decisions. Please contact the Anne Carlsen Center Foundation at 1-800-568-5175 to help you answer any questions you may have or to futher discuss your giving options.
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The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.