There are several different methods of making bequests, all of which can take the form of cash, securities, real estate, or paid-up life insurance policies, or can be made through certain retirement plans.
An outright bequest is a gift by will of a specific sum of money or a specific piece of property, and is the simplest method of making a testamentary gift.
Some donors would like to make a bequest to the Choral Society but don’t know the amount that will be available. Others want to ensure that estate expenses or other bequests are paid first. In these cases, a residuary bequest is a good solution. A residuary bequest provides the Choral Society with a percentage or all of the remainder of a donor’s estate after specific bequests, debts, taxes, and estate expenses have been paid.
Unrestricted & Restricted Bequests
Outright and residuary bequests can be either unrestricted or restricted. An unrestricted bequest may be used for any purpose, as designated by the officers and directors of the Choral Society. A restricted bequest may be used to promote a special program or purpose.
If you would like to make a bequest to the Choral Society, we encourage you to contact one of our officers or directors beforehand.