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.