Bequests are one of the most common planned giving tools
The preparation of an estate plan is one of the most personal and important tasks an individual may undertake. Estate plan distributions have contributed significantly to Idaho Public Television. The encouragement of bequests is one of the highest priorities of Idaho Public Television.
Distributions received by Idaho Public Television through a person's estate plan may involve a devise by will (commonly called a bequest) or a distribution from trust. If you wish, a Planned Giving Officer will work with attorneys, individuals, and their representatives in the preparation of documents to ensure that assets or funds intended to be transferred to Idaho Public Television are appropriate and are properly directed.
If a will has already been made, a codicil may be completed to update the will.
Wills should be updated when an individual weds, loses a spouse, wishes to change beneficiaries, or there is a change in assets.
Examples of bequests to Idaho Public Television include:
- Cash bequests — a specified dollar amount is identified
- Specific bequest — a specified asset such as securities is targeted
- Residuary bequest — a percentage of the remainder of your estate after other obligations have been met is bequeathed.
Your will ensures that your assets are distributed according to your wishes to the people and institutions most important to you. Through a bequest, you can have the satisfaction of knowing that you will help Idaho Public Television for years to come, at the same time providing for your loved ones.
A bequest contribution is deductible for federal estate-tax purposes with no limit on the amount of the deduction. In addition, bequests generally are not subject to state inheritance or estate taxes. In a large estate, the savings can be more than the value of the bequest.