About Casa Dorinda
Learn About Wills & Bequests
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends or Casa Dorinda as part of your estate plan.
What are the benefits of making a bequest
- You leave a lasting legacy to be remembered
- You lessen the burden of taxes on your family
- You may receive estate tax savings
A bequest can be made in several ways:
- You can gift a specific dollar amount or asset
- You can gift a percentage of your estate
- You can gift from the balance or residue of your estate
- You can make a beneficiary designation of certain assets
Sample bequest language
I hereby give and bequeath to the Montecito Retirement Association dba Casa Dorinda in the sum of $________ [or specific property]* to be used for its general purposes.
I give and bequeath the Montecito Retirement Association, dba Casa Dorinda, ______% of my net distributable estate to be used for its general purposes.
I give and bequeath to the Montecito Retirement Association dba Casa Dorinda the rest, residue and remainder of my estate to be used for its general purposes.
In the event that any of the above named beneficiaries shall not survive me, or shall die during the administration of my estate, within ninety (90) days from the date of my death, or as a result of a common disaster, then I give and bequeath that beneficiary's share of my estate to the Montecito Retirement Association dba Casa Dorinda, to be used for its general purposes.
To maximize tax savings, consider a "bequest" by beneficiary arrangement of savings bonds, individual retirement accounts or other tax-deferred retirement funds that produce "Income in Respect of a Decedent." These assets can be fully income taxable if left to heirs, and are excellent assets to consider for charitable bequests.