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Bequests

Currently, all across the U.S., loyal and dedicated volunteers help ensure the future of the organizations they serve by making a bequest. A bequest is a personal decision—a statement incorporated into your will explaining you wish to have a certain portion of your assets given to organization(s) you name. Properly constructed, a bequest can represent a considerable estate tax savings for your heirs. There are a few varieties you should consider.

Set amount bequests

A certain number of dollars, shares of stock or a parcel of real property is to be transferred. The bequest in your will might read:

"I bequeath the sum of $_______ to The Roofing Industry Alliance for Progress, a nonprofit organization headquartered in Rosemont, Ill."

Residual bequests

Sometimes, we are reluctant to name specific dollar amount for a planned gift because we do not know what our family will need or what resources might be in years to come. This type of bequest would state:

"I bequeath to The Roofing Industry Alliance for Progress, a nonprofit organization headquartered in Rosemont, Ill., an amount equal to _______ percent of the net value of my estate."

Event-triggered bequests

Even with the best estate plan, you may find yourself in an unanticipated situation in which your named beneficiary might predecease you. It is possible to create a contingent bequest in which you would state:

"Should _______ (your named beneficiary) predecease me, I bequeath _______ to The Roofing Industry Alliance for Progress, a nonprofit organization headquartered in Rosemont, Ill."

Making a planned gift to the Alliance can be an important part of your overall retirement and estate strategy.

Whether you have other planned gifts in place or are just becoming familiar with the options available to you, it is essential you consult your attorney and financial adviser to ensure the choices you make are right for you.

Writing your will and planning ahead for your beneficiaries retains your personal right to remember family, cherished friends and a favorite charity.

In 1996, The Roofing Industry Alliance for Progress was established within the National Roofing Foundation.

The Alliance is designated by the International Revenue Service as a 501(c)(3) nonprofit charitable organization to which tax-deductible contributions may be made.

The Alliance concentrates its efforts and resources on programs of the highest quality and maximum effect for roofing contractors. The Alliance ensures timely and forward-thinking industry response to major economic and technological issues and commissions only those projects that enhance the long-term viability and attractiveness of the roofing industry. The Alliance's scholarship initiative provides meaningful academic awards to the sons and daughters of contractor members.

For more information about planned giving, contact Bennett Judson, The Roofing Industry Alliance for Progress' executive director, at (847) 299-9070, ext. 7513 or e-mail bjudson@roofingindustryalliance.net.