Bequest Language

BEQUESTS
A bequest can be made by naming CARE as a charitable beneficiary in a new will, or adding a codicil (amendment) to an existing will. The bequest can be in the form of a stated dollar amount or specific property, a percentage of the estate, or a portion of or the entire residue (meaning all or a percentage of your estate remaining after all debts, taxes and specific bequests have been paid).

If you wish to name CARE in your will or estate plan, our legal name is: Cooperative for Assistance and Relief Everywhere, Inc. (CARE), 151 Ellis Street, NE, Atlanta, GA 30303-2440

CARE is tax exempt under section 501(c)(3) of the Internal Revenue Code. Our tax identification number is: 13-1685039.

SAMPLE BEQUEST LANGUAGE
Unrestricted Bequest
For a defined dollar amount, percentage of your estate, number of shares of stock or particular piece of property, the language should be:

"I give, devise and bequeath to Cooperative for Assistance and Relief Everywhere, Inc. (CARE), 151 Ellis Street, NE, Atlanta, GA 30303-2440 ___% of my estate, or the sum of $___, or ___shares of stock of XYZ Corporation, or specific property to whatever purpose it deems necessary or desirable in accord with my intent to benefit the poor."

Residual Bequest
For all or a percentage of your estate remaining after all debts, taxes and specific bequests have been paid:

"I give, devise and bequeath all (or ______%) of the rest, residue and remainder of my estate, both real and personal, tangible and intangible to Cooperative for Assistance and Relief Everywhere, Inc. (CARE), 151 Ellis Street, NE, Atlanta, GA 30303-2440."

Beneficiary Designations
Most assets can pass to your intended beneficiaries by the terms of your will. Other assets, such as retirement plans, life insurance and insurance annuities, however, are not controlled by the terms of your will. These assets instead require separate beneficiary forms. You can support CARE's work even after your lifetime by naming us as beneficiary of one of these plans. This can be easily done by simply contacting the administrator of the plan a change of beneficiary form.

Restricted Gifts
All unrestricted charitable gifts are used strategically to support CARE's top priorities. However, you may restrict your gift by directing how you want it used, or by allowing us to expend only the income earned on the principal. If you wish to restrict your gift to a specific purpose or program, you may also stipulate that in your will. Please contact us toll-free at 1-800-752-6004 so we can discuss this with you to ensure that we meet your wishes exactly.

Care's Programs by Activity

How Care's Expenses are Allocated

A charitable bequest is one or two sentences in your will or living trust that leave to CARE a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to CARE [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to CARE or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

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 give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 CARE as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 CARE as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and CARE where you agree to make a gift to CARE and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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