You can make your Bequest in Several Ways:
A bequest can deliver a specific dollar amount or asset to the Holocaust Museum Houston (HMH) or it can give us a percentage or specific dollar amount of the balance remaining in your estate after taxes and specific bequests have been paid. It can also be payable if an individual beneficiary is not able to inherit. Unless a bequest is directed to a specific program or purpose, we will apply it to our general resources or use it for the need most pressing at the time it is received. Because of the flexibility it affords, we prefer non-directed bequests. If, however, you are considering a bequest for a specific purpose, we ask that you consult us so that we may discuss this with you further, and work out any details that need to be addressed. Below, we have provided examples of language you might consider for the 3 most common bequest-types, you may include this language in your will or other testamentary document when making a bequest to HMH:
1. Specific Bequest
a. "I bequeath the sum of $___ ($XXX) [or ...'all shares of (IBM) stock I own at the time of my death...]to the Holocaust Museum Houston, a non-profit corporation located at 5401 Caroline Street Houston TX 77004"
2. Residuary Bequest
a. "I bequeath XX percent (XX%) of the residue of my estate to the Holocaust Museum Houston, a non-profit corporation located at 5401 Caroline Street Houston TX 77004"
3. Contingent Bequest
a. "I bequeath [the sum of XX dollars ($XXX) or XX percent (XX%)] of the residue of my estate to John Doe, provided, however, if John Doe does not survive me, this gift instead shall be paid to the Holocaust Museum Houston, a non-profit corporation located at 5401 Caroline Street Houston TX 77004"
Please Contact your Tax Advisor
The information above is not offered as legal or tax advice. We urge you to consult with your own tad advisor and/or attorney, accountant, or financial planner to make certain that any gift you may wish to make fits well into your overall financial and estate planning. All such information is presented solely for educational purposes and is not a solicitation or an offer.
IRS Circular 230 Disclaimer: Under applicable Treasury regulations, this advice is not intended or written to be used, and cannot be used, for the purpose of avoiding any penalties. If you would like an opinion upon which you can rely to avoid penalties, please contact your attorney or tax advisor.