There are many ways in which you can provide support to Pink Ribbon, including through your estate. Planned or deferred gifts enable Pink Ribbon to plan for the future because they will be realized at some later date. You can make a planned gift by naming Pink Ribbon as a beneficiary in your Will or by naming Pink Ribbon as owner and beneficiary of a paid-up life insurance policy. A gift of life insurance could entitle you to a tax deduction, depending on the regulations of your country of residence.
Your attorney can advise you of the various types of charitable trusts and the estate tax benefits of each, and assist you in setting up a planned gift that is tailored to your personal needs. You may also want to talk with your attorney or financial advisor about the tax benefits of naming Pink Ribbon as a beneficiary of your retirement plan.
One of the easiest ways to make a gift is by leaving Pink Ribbon a bequest in your Will. There are several ways you can do this. You can (1) give a specific amount of money to Pink Ribbon; (2) give a specific item of property to Pink Ribbon; or (3) give a specified percentage of the residue of your estate to Pink Ribbon (the residue of your estate is that which is left over after all specific gifts have been made, whether charitable or non-charitable). Since we cannot predict future medical advances, we recommend that your bequest be for unrestricted purposes or be directed generally to research.
The following simple language can be used to make your gift:
"I give and devise to Pink Ribbon Inc., or its successor, the sum of _________ Dollars ($_________) to be used for such charitable purposes as the governing body of Pink Ribbon Inc. deems appropriate; provided, however, that at the time of such gift, Pink Ribbon Inc. or its successor, must be a charity as described in Sections 170(c) and 2055(a) of the Internal Revenue Code."
"I give and devise ________ percent (________%) of my residuary estate to Pink Ribbon Inc., or its successor, to be used for such charitable purposes as the governing body of Pink Ribbon Inc. deems appropriate; provided, however, that at the time of such gift, Pink Ribbon Inc., or its successor, must be a charity as described in Sections 170(c) and 2055(a) of the Internal Revenue Code."
A bequest may be included in the body of a will or as an amendment (codicil). Gifts made through a bequest typically provide an estate tax deduction. Please consult your attorney and/or financial advisor for specific information.