Charitable Bequest

Many individuals designate a portion of their estate or assets by bequest in their will to a charitable organization such as the Acoustical Society Foundation. This giving mechanism has become an important part of the American philanthropic tradition because a gift in one’s will can oftentimes exceed the magnitude of gifts that one can give while alive.

- A general bequest directs that the Foundation will receive a specified dollar amount.
- A residual bequest designates that all or a part of whatever remains will be contributed to the Foundation after all other bequests, expenses, debts or taxes have been honored.
- A specific bequest indicates that the Foundation will receive a specific asset or piece of property.
- A contingent bequest is implemented only if the primary intention cannot be carried out. For example, if a primary beneficiary predeceases the person who is making the donation in their will, then the Foundation receives the bequest that would have gone to the primary beneficiary.

Advantages:
- A bequest can be for an unrestricted or restricted contribution to the Foundation.
- A will can be changed (revocable) if charitable priorities change.
- A bequest can be combined with other charitable giving instruments, and sometimes can lower the value of the estate used in assessing estate (inheritance) taxes.

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