Charitable Bequests Made in Wills and/or Trusts:
Gifts provided through wills or trusts have become the foundation of the American philanthropic tradition. In fact, the vast majority of planned gifts ultimately received are as a result of bequests. Such gifts enable you to make significant contributions that may not have been possible during your lifetime. The federal estate tax can still take approximately 40% to 50% of one’s estate at the time of death, so it definitely pays to do some advance planning with your attorney and other professional advisors.
The most obvious advantage to remembering Blue Lake Fine Arts Camp in your will is that you will reduce estate taxes while still supporting your non-profit interests. You may designate a bequest of an outright cash gift to Blue Lake Fine Arts Camp or set up life-income plans, which provide income to yourself and/or your beneficiaries. (For more specific information on these plans, please read the next section, “Is there a way I can give to Blue Lake Fine Arts Camp and still receive benefits during my life or during the lifetime of my beneficiaries?”)