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Bequests and estate planning

Many Kent area residents support their favorite charities. Charitable giving is an important concern for many people, and the ability to incorporate this into an estate plan is something that many people are interested in. Bequests in a will are a popular form of supporting a charity after death.

There are different types of bequests that a person can specify in their will. One is a pecuniary bequest. This is where a certain dollar amount is left to a charity. A specific bequest is when certain items are given to charity, like a painting or antique car. A residuary bequest is when a charity receives all or part of the remainder of the donor's assets after everything else has been distributed and taxes have been paid. There is also a contingent bequest where a charity receives the donation if a certain thing happens, like a donor not being survived by a spouse.

Including a charitable organization in an estate plan is something many Kent area residents are interested in. A legal professional skilled in estate planning can help their client work out a bequest and make sure their wishes are incorporated into the estate plan. An attorney understands that their client creates an estate plan for many reasons. They are often created to pass along assets to heirs, but they can also be used to communicate healthcare wishes, designate a guardian for minor children, and charitable giving. Whatever reasons a person may have for creating an estate plan, the sooner one is completed, the better. Although no one expects they will die tomorrow, tragedies occur every day.

Using a will to give to charity is one estate planning strategy a person may want to consider. Estate planning is an important tool to ensure a person's legacy continues for many generations.

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To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

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