You can include DCV in your will by including language in a new will or in a simple codicil to an existing will. There are a variety of ways to include DCV in a will.
- A specific bequest provides that DCV will receive a designated dollar amount or specific property, such as a home. Clear and specific language is crucial to ensure your intentions are understood by the executor.
- A percentage bequest directs a specific portion of your estate’s value to DCV. This option is beneficial if you are not certain about the value of your estate or if you prefer straightforward and equitable distribution to more than one persons or organizations without specifying exact assets.
- A residual bequest provides that DCV receives what remains in your estate after specific gifts are distributed to other beneficiaries. This strategy allows you to prioritize certain inheritances while also supporting DCV with the remainder of your assets.
- A contingent bequest provides that DCV receives a gift if your primary beneficiary pre-deceases you or if specific conditions aren’t met. For instance, conditions could include benchmarks that your beneficiary does not need support.
You have the option to direct how your bequest will be used by DCV. An unrestricted bequest allows flexibility for us to use the gift as needed.
In contrast, a restricted bequest specifies a particular purpose for using the gift. If you want to make a restricted bequest, it is better if you have the agreement of DCV before finalizing your will or codicil. We want to avoid DCV having to refuse a restricted bequest if its acceptance would negatively affect our mission.
If you change my mind or your situation changes, you can change your bequest at any time by creating a new will or adding a codicil to your existing will.
We do not require a copy of your will or codicil. However, we ask you to complete a Planned Charitable Gift Notification Agreement so we can be prepared for your eventual gift.
Your charitable bequest to DCV is not subject to estate taxes. Please consult your attorney or tax adviser for more information on taxes.