CHARITABLE BEQUEST

One of the simplest, most impactful, and popular ways to make a planned gift is through a charitable bequest. The term “bequest” refers to a statement in your will or trust describing your wishes to make a gift after your death. A bequest can be to a person, or it can be a charitable bequest to a nonprofit organization, such as Portsmouth Abbey School. Through a charitable bequest you can leave a specific amount, percentage, or all or a portion of the remainder of your estate to Portsmouth Abbey School. It is important to note that should you designate your bequest as a percentage of your estate rather than a specific amount, your gift to the School can grow along with your estate. A bequest provision can be included in your will when you create it, or you can amend your existing will through the use of a codicil.  

Benefits of Charitable Bequests 

  • No other planned gift is as simple to implement and as easy to change. 

  • You may revise your gift at any time should your circumstances change. 

  • A charitable bequest may help reduce your estate tax liability. 

  • Assets used to make the gift are not affected during your lifetime.  

  • A charitable bequest allows you to leave a lasting legacy— making an impact that may be greater than you could have made during your lifetime. 

Sample Bequest Language  

I bequeath to Portsmouth Abbey School (Tax ID #05-0258947), a nonprofit organization located in Portsmouth, RI, 

  • the sum of _________ dollars; or 

  • an amount equal to ________ percent of the net value of my estate; or 

  • all the rest, residue, and remainder of my estate.

Contact the Office of Development & Alumni Affairs at 401-643-1269.

The information on this website is not intended as legal, financial, or tax advice. Please consult an attorney, financial advisor, or tax advisor in your planning.