A bequest is the simplest and easiest way to make a significant gift to The Newton Conservators after your lifetime. It offers flexibility – you retain use of your assets and can make changes at any time to reflect your philanthropic and financial goals. And a charitable bequest is deductible for federal estate tax purposes.
Common forms of charitable bequest
Cash Bequest
Designate a specific amount for The Conservators.
Residuary Bequest
Direct all or a percentage of your estate to The Conservators, after payment of cash bequests and estate-related expenses.
Bequest of Property
Direct a particular asset, such as real estate, securities, or tangible personal property, such as an antique or valuable art object, to The Conservators. We particularly welcome donations of land in Newton that can be preserved in its natural state for the benefit of future generations. Learn more about donating land.
Testamentary Trusts
Provide income for a spouse or other family member for life or a term of years, after which the remaining assets will pass to The Conservators.
Beneficiary Designation of IRA, 401(k), or Other Retirement Plan Assets
By naming The Conservators as a beneficiary of your retirement fund assets, you can eliminate both the income tax and estate tax that would have to be paid if you left these assets to individuals.
Bequest Language
We advise you to obtain the assistance of an attorney when making or revising your will. If you have questions about this material or require additional information about making a provision in your will to benefit The Newton Conservators, please contact us.
Suggested language for some of the simpler forms of bequests is as follows:
Cash Bequest
Specific dollar amount: “I bequeath the sum of $_______________ to The Newton Conservators, a Massachusetts nonprofit corporation having a principal place of business in Newton, Massachusetts, to be used or disposed of as The Newton Conservators in its sole discretion deems appropriate.”
Bequest of Property
Personal property: “I bequeath ________________(describe property) to The Newton Conservators, a Massachusetts non-profit corporation having a principal place of business in Newton, Massachusetts, to be used or disposed of as The Newton Conservators in its sole discretion deems appropriate.”
Real estate:“I devise all of my right, title, and interest in and to real estate located at _______________________(give address and describe property) to The Newton Conservators, a Massachusetts non-profit corporation having a principal place of business in Newton, Massachusetts, to be used or disposed of as The Newton Conservators in its sole discretion deems appropriate.”
Residuary Bequest
Share of or entire value of residue of your estate: “I devise and bequeath (________ percent) (the entire value) of the residue of my estate to The Newton Conservators, a Massachusetts non-profit corporation having a principal place of business in Newton, Massachusetts, to be used or disposed of as The Newton Conservators in its sole discretion deems appropriate.”
Contingent Bequest
Leave the charitable organization whatever is left in the estate after the death of the primary heir(s), usually the surviving spouse. Insert the conditional language in one or more of the above provisions. For example: “If my husband (wife) does not survive me, I bequeath the sum of $__________ to The Newton Conservators, a Massachusetts non-profit corporation having a principal place of business in Newton, Massachusetts, to be used or disposed of as The Newton Conservators in its sole discretion deems appropriate.”
Charitable Tax Status
The Newton Conservators, Inc., is an IRS-qualified 501(c)(3) charitable organization. Copies of our tax-exempt status letter are available upon request. For estate tax purposes, bequests, legacies, devises, or transfers to the Conservators are deductible as they accord with the provision of the Internal Revenue Code Section 2055(a) and related regulations.
