How to Make a Gift by Will or via Trust
Making a gift by will is easy. What follows are guidelines and suggestions for naming the First Unitarian Church of Dallas to receive a gift from you through your Last Will and Testament or Revocable Trust. Here you will find basic information about different kinds of estate gifts, including sample language you may use in your legal documents. Most of this information may be used to make a gift through a family trust, a life insurance policy, or an individual retirement account.
Consider letting us know that you have included a gift to the Church in your estate plans. Your example may encourage others to join suit and provide for the future of our liberal religion.
Suggested Bequest Language
Please share the following suggested bequest language with your attorney to assist in drafting a will or codicil that will achieve your charitable estate plans. If you also want to provide for your congregation, simply substitute its name and legal address for the Association’s.
I give all my real and personal property to the First Unitarian Church of Dallas, a Texas charitable corporation located at 4015 Normandy Ave, Dallas, TX 75205-1705, for its unrestricted use.
I give _____ [$ amount, description of property, or % of estate] to the First Unitarian Church of Dallas, a Texas charitable corporation located at 4015 Normandy Ave, Dallas, TX 75205-1705 for its unrestricted use.
I give all [or _____ %] of my remaining assets of any kind to the First Unitarian Church of Dallas, a Texas charitable corporation located at 4015 Normandy Ave, Dallas, TX 75205-1705, for its unrestricted use.
Restricted Bequest to the Permanent Endowment
I give _____ [$ amount, description of property, or % of estate] to the General Endowment Fund of the First Unitarian Church of Dallas, a Texas charitable corporation located at 4015 Normandy Ave, Dallas, TX 75205-1705, to be invested according to the policies adopted by its Board of Trustees, income only to be used for the general purposes of the Association [or for a specific purpose].
Restricted Bequest for Specific Purpose
I give _____ [$ amount, description of property, or % of estate] to the First Unitarian Church of Dallas, a Texas charitable corporation located at 4015 Normandy Ave, Dallas, TX 75205-1705, restricted to _____ [describe or name of program]. If at any time in the judgment of the Board of Trustees it is deemed impossible or impracticable to carry out the above purpose, the Trustees shall determine a purpose as near as possible to that described above.
General / Specific Bequests
Like other sorts of gifts, bequests can be given for general or specific purposes and uses.
A Bequest for General Purposes
This type of bequest is especially appreciated because it can be put to use where there is greatest need. A bequest made without restrictions usually is added to the permanent unrestricted endowment, providing general support that may last forever.
A Bequest for Specific Purposes
Many people want to give to something special, a type of gift sometimes called a “restricted bequest.” Restrictions are often designed in consultation with First Unitarian Charitable Gift and Estate Planning staff who can help you craft language that will ensure your gift will do what you want it to do. Here’s a list of programs and projects to consider and you shape your charitable bequest to Unitarian Universalism.
Restricted / Unrestricted Bequests
Both restricted and unrestricted bequests are made in the following ways:
Give a specific asset or collection of assets in the form of cash, securities, or other property. Retirement plan benefits, IRAs, savings bonds, and other items known as “income with respect to a decedent” (IRD) are particularly tax effective gifts to charity. You may designate an amount or a percentage of the property.
Give all or a percentage of what remains of your estate after all specific bequests have been satisfied and debts and expenses have been paid. You may specify that charitable gifts be fulfilled first with IRD assets to the extent needed to reduce your tentative estate tax.
Give all or a portion of your estate in the event that a named beneficiary is not alive when you die. This type of bequest can avoid costly litigation or prevent property from reverting to the state for lack of heirs.
Testamentary Charitable Remainder Trust
A trust document is created during your lifetime, with a “pour-over” will to designate which assets are to be placed in a trust with the income paid to one or more beneficiaries for their lifetimes. Upon the death of the last income recipient, or after a term of a specified number of years, the trust terminates and assets are transferred to the First Unitarian Church of Dallas, completing your gift.
For more information, please contact us:
4015 Normandy Ave.
Dallas, TX 75205-1705