When you leave a bequest to The ASCO Cancer Foundation through your will or living trust, you can make a generous gift without reducing your current income. You can specify the area you wish your gift to benefit. Charitable bequests are normally deductible in full for estate tax purposes.
*The ASCO Cancer Foundation does not provide professional financial or legal advice. We recommend you always confer with your professional tax or financial advisors or your legal counsel when considering estate planning.
Sample Language for Wills (Bequest):
Unrestricted Gift:A gift that can be used where need is greatest.
Example:
I give, devise and bequeath to The ASCO Cancer Foundation, Alexandria, VA, the sum of $ for its general purposes.
Gift for a Specific Purpose:A gift that is to be used for a specific purpose. Example:
I give, devise and bequeath to The ASCO Cancer Foundation, Alexandria, VA, the sum of $ to be used for (state specific purpose, program or activity).
Residuary Bequest:Leaves any remainder after all the other bequests have been paid.
Example:
I give, devise and bequeath to The ASCO Cancer Foundation, Alexandria, VA, <Number> percent of the residue of the estate to be used for the Foundation's general purposes.
Contingency Gift: Takes effect only if a primary intention cannot be met.
Example:
In the event that <Name of Individual> predeceases me, I give, devise and bequeath his/her bequest or share to The ASCO Cancer Foundation, Alexandria, VA, to be used for its general purposes.
Rather than leaving an exact sum, in any of the bequest examples above, you can include language that refers to a percentage of your estate or a description of the property you wish to give.
For more information, contact The ASCO Cancer Foundation at 571.483.1700 or Foundation@asco.org.
