Quicklinks
myMILLIKIN |
Search
Millikin Home
Millikin Directory
Millikin Mobile
Big Blue RSS
Millikin University - Decatur, IL
Estate Giving 

Bequests and Living Trusts

A bequest is a gift of property or assets to a beneficiary as defined in a will. There can be long-term tax benefits because charitable bequests can reduce estate taxes. In addition, there are the emotional rewards that come with planning a charitable gift that will be meaningful to the charity and will benefit society. There can be other tax benefits as well if the bequest involves appreciated assets.

Specific language (see bequest information) is used to effect a bequest. The examples provided here are for general information - please consult your attorney to make sure your wishes are properly carried out. There is additional information available about the benefits of utilizing a charitable bequest.

A living trust is a trust set up during the life (and can operate after the death) of the person or people establishing the trust. With a revocable living trust you can change your mind and have some or all of the trust property returned to you during your life. An irrevocable trust cannot be changed except in certain legal circumstances. Charitable gifts may be made through a living trust upon the death of the trustor. See Living Trusts for more information.

 
 
Millikin University - Decatur, IL
Millikin University - Decatur, IL
 
Millikin University - Decatur, IL
Millikin University - Decatur, IL
Millikin University - Decatur, IL
Millikin University - Decatur, IL