A gift in your will can be a specific dollar amount, a percentage of your estate, or all or part of the residue of your estate (what’s left after your loved ones have been provided for). It may help to reduce your estate taxes.
When making or updating your will, an estate-planning attorney can assist you in adding one of the following paragraphs to your will:
“I hereby give and bequeath $_________ to Habitat for Humanity of Bucks County to be used (for its general purposes) (for [specific purpose]).”
“I hereby give, devise and bequeath (the residue) (__% of the residue) of my estate to Habitat for Humanity of Bucks County to be used (for its general purposes) (for [specific purpose]).”
Beneficiary Designations/Life Insurance
Many families own life insurance policies that have outlived their original purpose, and which can aggravate estate taxes if not treated with care. These old policies can be used to create a new life for a Habitat family. Also, new life insurance policies can sometimes be used to make giving a larger gift to Habitat more convenient and affordable. You can name Habitat Bucks as a beneficiary of your life insurance or insurance annuity assets, and choose to give all or a portion of the proceeds of your plan.