Bequests

Leaving Salem Art Association a Gift In Your Will

Including a gift to the Salem Art Association in your will or living trust is called a charitable bequest which offers these main benefits:

  • Simplicity. Just a few sentences in your will or trust are all that is needed. Share the sample bequest language for Salem Art Association with your estate planning attorney:“I bequeath the sum of $_____ to the Salem Art Association in Salem, Oregon, for its general use and purposes.”“I devise and bequeath __% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to the Salem Art Association, in Salem, Oregon, for its general use and purposes.”“If [ spouse/partner’s name ] survives me, I devise and bequeath ___% of the remainder and residue of property owned at my death, whether real or personal, and wherever located to [ name ]. If [name ] does not survive me, then I devise and bequeath ___% of my residuary estate, whether real or personal property and wherever located, to the Salem Art Association in Salem, Oregon, for its general use and purposes.”
  • Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
  • Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to the Salem Art Association.
  • Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.

How It Works
To make a charitable bequest, you need a current will or revocable living trust.

Your gift can be made as a percentage of your estate. Or you can make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, Salem Art Association receives your gift.

For more information, please contact Sandra Burnett, Executive Director, at 503-581-2228 x303 or sandra@SalemArt.org.

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