A bequest is a gift specified in your will or living trust. A charitable bequest to Grey Bears has dual benefits. It provides a tax deduction for the bequest amount against the value of your estate, making it a powerful tool for reducing estate taxes, and at the same time supports Grey Bears programs that improve the health and well-being of thousands of Santa Cruz County seniors and our community.
Some people may be hesitant to donate to a non-profit organization during their lifetime because they are concerned they may need their money for medical expenses, emergencies or to help their children. You can comfortably donate to Grey Bears by designating money or other assets that remain available when you no longer need them by specifying what you wish to contribute in your will or living trust. Some people with or without close heirs use this type of bequest to donate a large part of their estate to support the long-term sustainability and work of non-profits like Grey Bears
One common approach is to leave specific or demonstrative bequests to family members or other individuals, and then leave a residuary bequest to a charitable organization such as Grey Bears (a gift made after all the estate’s debts and expenses and other bequests are paid).
To make a bequest to Grey Bears or to establish a perpetual memorial fund, your official bequest language must include:
Our legal name: “Grey Bears”
Grey Bears legal address: 2710 Chanticleer Ave, Santa Cruz CA 95065
Grey Bears Federal Tax ID (FEIN): 94-2298681
Here’s some language to help your Attorney/Estate Planner create a charitable bequest to Grey Bears in your will or living trust, such as the following:
I hereby give to Grey Bears (FEIN: 94-2298681) the sum of $____________ ; or ____________ percent (__%) of my estate; or _________ percent (__%) of my estate residue. This gift shall be used for the benefit of Grey Bears to provide general operating support.
Contact Tim at Grey Bears for more information, firstname.lastname@example.org, 831-479-1055 ext 224, and we would also be happy to refer you to a licensed financial advisor.