- Make a gift of any amount while retaining control of your assets during your lifetime
- May be modified at any point in time
- An outright gift from your estate is entirely free from federal taxes, permitting CRSJ to utilize the full amount of your gift
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Specific Bequest: A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Cristo Rey San José Jesuit High School.
Percentage Bequest: Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Cristo Rey San José Jesuit High School.
Residual Bequest: A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Cristo Rey San José Jesuit High School.
Contingent Bequest: A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Cristo Rey San José Jesuit High School.