Mississippi Methodist Senior Services' Gift by Will
An excellent way for you to support Mississippi Methodist Senior Services' mission is to leave us a gift in your will, living trust or with a codicil.
One significant benefit of making a gift by will is that it allows you to continue to use the property you will leave to charity during your life. Another
benefit is that you are able to leave a lasting legacy.
There are a number of ways you can make a gift by will to Mississippi Methodist Senior Services.
In order to make a gift by will, you should speak with your attorney. Your attorney can help you include a gift by will to Mississippi Methodist Senior Services in your estate plan. We have provided some basic gift by will language to assist you and your attorney.
1. Specific Gift by Will
If you are considering making an outright gift by will to Mississippi Methodist Senior Services, we recommend the following language:
If you are considering making a gift by will of a percentage of your estate to Mississippi Methodist Senior Services, we recommend the following language:
If you are considering a gift by will but would like to ensure that your gift by will will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted gift by will, we recommend that your attorney include the following provision to give Mississippi Methodist Senior Services flexibility should it no longer be possible for Mississippi Methodist Senior Services to use your gift as you originally intended:
Please contact us if you have any questions about how to make a gift by will to Mississippi Methodist Senior Services or to request any additional information that might be helpful to you and your attorney as you consider making a gift by will to us.
If you have included a gift by will for Mississippi Methodist Senior Services in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Types of Gifts by Will
There are a number of ways you can make a gift by will to Mississippi Methodist Senior Services.
Specific Gift by Will. A specific gift by will involves making a gift of a specific asset such as real estate, a car, other property or a gift for
a specific dollar amount. For example, you may wish to leave your home or $10,000 to Mississippi Methodist Senior Services.
Percentage Gift by Will. Another kind of specific gift by will involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Mississippi Methodist Senior Services.
Residual Gift by Will. A residual gift by will is made from the balance of an estate after the will or trust has given away each of the specific gifts by will. A common residual gift by will involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Mississippi Methodist Senior Services.
Contingent Gift by Will. A contingent gift by will is made to charity only if the purpose of the primary gift by will cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the gift by will language could provide that if the relative is not alive at the time of your death, the vacation home will go to Mississippi Methodist Senior Services.
Percentage Gift by Will. Another kind of specific gift by will involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Mississippi Methodist Senior Services.
Residual Gift by Will. A residual gift by will is made from the balance of an estate after the will or trust has given away each of the specific gifts by will. A common residual gift by will involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Mississippi Methodist Senior Services.
Contingent Gift by Will. A contingent gift by will is made to charity only if the purpose of the primary gift by will cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the gift by will language could provide that if the relative is not alive at the time of your death, the vacation home will go to Mississippi Methodist Senior Services.
Gift by Will Benefits
A gift by will is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a gift by will be used for a
general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Gifts by will are exempt from federal estate taxes.
If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Gift by Will Language
In order to make a gift by will, you should speak with your attorney. Your attorney can help you include a gift by will to Mississippi Methodist Senior Services in your estate plan. We have provided some basic gift by will language to assist you and your attorney.
1. Specific Gift by Will
If you are considering making an outright gift by will to Mississippi Methodist Senior Services, we recommend the following language:
Gift by Will of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
Gift by Will of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
Gift by Will of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
2. Percentage Gift by Will
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
Gift by Will of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
Gift by Will of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's general use and purpose.
If you are considering making a gift by will of a percentage of your estate to Mississippi Methodist Senior Services, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Mississippi Methodist Senior Services,
a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID #64-6026549, for Mississippi Methodist Senior Services's
general use and purpose.
3. Residual Gift by Will
I hereby give, devise and bequeath to Mississippi Methodist Senior Services, a nonprofit organization located at 109 S. Broadway, PO Box 1567, Tupelo, MS,
38802, Federal Tax ID # 64-6026549, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Mississippi Methodist Senior Services's
general use and purpose.
4. Contingent Gift by Will
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Mississippi Methodist Senior Services, a nonprofit organization
located at 109 S. Broadway, PO Box 1567, Tupelo, MS, 38802, Federal Tax ID # 64-6026549, DESCRIPTION OF PROPERTY to be used for Mississippi Methodist
Senior Services's general use and purpose.
Restricted Gift by Will
If you are considering a gift by will but would like to ensure that your gift by will will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted gift by will, we recommend that your attorney include the following provision to give Mississippi Methodist Senior Services flexibility should it no longer be possible for Mississippi Methodist Senior Services to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Mississippi Methodist Senior Services, it shall become impossible for Mississippi Methodist Senior Services
to use this gift by will to accomplish the specific purposes of this gift by will, Mississippi Methodist Senior Services may use the income and principal of this
gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my gift by will.
Contact Us
Please contact us if you have any questions about how to make a gift by will to Mississippi Methodist Senior Services or to request any additional information that might be helpful to you and your attorney as you consider making a gift by will to us.
If you have included a gift by will for Mississippi Methodist Senior Services in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.