Bequests
Leave a legacy of powerful philanthropy through Seattle Foundation. A bequest is one of the easiest and most flexible ways make a legacy gift. When you do so to Seattle Foundation, you join a community of likeminded donors who are passionate about the present and future of our community - our Changemakers Circle.
Benefits of a bequest
- Your gift may result in an estate tax deduction
- You may reduce the burden of taxes on family or other human beneficiaries
- You can leave a lasting legacy
How a bequest works
With the support and counsel of your estate planning attorney and Seattle Foundation, we can craft a simple bequest that directs Seattle Foundation to open a fund upon your passing. The directives about the fund (who can make gifts out of the fund, to which organizations and so on) can be changed many times over the course of your lifetime - and your will or trust can remain the same. This creates flexibility, simplicity and peace of mind.
Here are some of the ways to leave a bequest
- Include a bequest to Seattle Foundation in your will or revocable trust
- Designate Seattle Foundation as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Seattle Foundation as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Specific bequest - make a gift of a specific dollar amount or a specific asset
- Residual bequest - make a gift from the balance or residue of your estate
- Contingent bequest - your gift takes effect only under circumstances you specify
Benefits of joining Changemakers Cirlce
When you join the next wave of giving through a bequest or other legacy gift, you benefit from valuable support and services to ensure your planned gift is thoughtfully made and managed, creating the community impact you intend. Your benefits include:
- Effective Philanthropic Advising: Expert advice and counsel to support customized gift planning and estate planning options; anonymity in distribution of gifts, if desired; and optional ongoing family involvement through a Community Philanthropy Fund or Family Foundation.
- Judicious Stewardship of Assets: Gift acceptance of various asset types, including real estate, business interests, insurance and retirement plans; careful investment over a period of time or in perpetuity, potential growth in philanthropic assets; no setup costs; and no fees for changes to your plans.
- A Community of Giving Back: Recognition of your gift (if desired), membership in Changemakers Circle and invitations to special events; and opportunities to connect with like-minded philanthropists committed to community change in Greater Seattle.