One of the simplest types of planned gifts is a bequest to Lake-Geauga Habitat for Humanity in your will or trust.   This form of gift is attractive because it is easy to make, it allows you to retain complete use and control of your assets during your lifetime, and it allows you the freedom to change or revoke your gift at any time.   In addition, a bequest can be added to your existing plans through a simple document called a codicil, requiring minimal time and expense to you.

 

Although there are no tax advantages during your lifetime, upon your death, your estate may receive a charitable deduction for both federal and state estate tax purposes.

 

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TYPES OF BEQUESTS

Specific Bequest

Residuary Bequest

Contingent Bequest