Skip to Content
Bequests are the easiest and most popular way for a donor to make a planned gift. There are four types of bequests: general bequest, specific bequest, residuary bequest and contingent bequest.
General Bequest: Provides the charity a stated sum of money
> "I give $_______ to the YMCA of Greater New York, to benefit the _______ Branch, to be used for its exempt purposes."
Specific Bequest: Provides the charity with a specific gift of property (i.e. stamp collection, jewelry)
> "I give my diamond ring to the YMCA of Greater New York, to benefit the ________ Branch.
Residuary Bequest: The charity receives what remains of the estate after all debts, expenses and taxes have been paid and all other bequests have been satisfied.
> "I give the rest of the property I own at my death to the YMCA of Greater New York, to benefit the ____________ Branch, to be used for its exempt purposes."
Contingent Bequest: If the original beneficiary is unwilling or unable to accept the bequest, the gift then goes to the contingent beneficiary.
> "If (insert name) predeceases me or disclaims any interest in (describe property), I gift such property to the YMCA of Greater New York, to benefit the __________ Branch, to be used for its exempt purposes.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to YMCA of Greater New York as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to YMCA of Greater New York as a lump sum.