Charitable bequests are an important part of estate planning. Your La Jolla Library receives wonderful contributions from farsighted individuals who make contributions through their wills or trusts, often at a more significant level than they could have made with an outright contribution. By leaving a bequest, you can have a lasting impact on generations of Library patrons to come.
Your taxable estate is reduced by the value of the bequest and can save taxes. Since the estate tax is progressive, the larger the estate, the more savings per dollar contributed. Bequests can be for a specific amount of money, securities or other property as well as residuary, to be paid after other obligations.