Bequests

A bequest is an easy and meaningful way many donors make a significant and lasting gift. 

A bequest is a gift made through your will. 

A bequest offers you a means by which you can lend support to your favorite United Methodist Church or other United Methodist mission without affecting cash flow or assets during your lifetime.

There are three types of bequests:

Specific Bequest

In this type of bequest, you would direct that a predetermined sum of money, a percentage of the donor's estate, or a particular asset, which may include stocks, bonds,  real estate or tangible personal property, be transferred to the United Methodist Foundation of West Virginia, Inc.  Funds from retirement plans or life insurance policies can also be used
in this type of bequest.

Residual Bequest

In this type of bequest, the remaining assets in the estate, or a predetermined percentage thereof, are transferred to the United Methodist Foundation of West Virginia, Inc. after beneficiaries receive their distributions and all estate debts are satisfied and taxes and expenses are paid.

Contingent Bequest

In this type of bequest, the assets would be transferred to the United Methodist Foundation of West Virginia, Inc. if your primary heirs predecease you.

In your will, you can stipulate (restrict) how the assets in the bequest are to be used and can only be used for the purpose(s) you elect.  In an unrestricted bequest, the assets may be used at our discretion, where the need is greatest or for general purposes..  You may also elect to make a bequest in honor or memory of individual(s). Also you may stipulate whether the bequest must remain anonymous or can be recognized.


Benefits of Bequests

• Does not affect your cash flow or assets during your lifetime.
• You can modify your bequest if your circumstances change at any time prior to your death.
• You can determine how the gift is to be used.
• Value of the gift and type of assets donated are determined by you.
• Your estate will receive charitable tax deductions.
• Offers your support for a United Methodist ministry after your lifetime.

We will be happy to supply you with sample bequest language you and your estate planner can use in your planning. This information is free and in no way obligates you to make a bequest.  Contact us via email at info@umfwv.org or call us toll free at 1-800 788-3746 ext 45.

The Foundation does not give legal advise or tax advice. 
Always consult with your own advisors before deciding which gift works best for your circumstances.