Leave Your Legacy
An excellent way for you to support New Pathways for Youth’s mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to us during your lifetime. Another benefit is that you will leave a legacy of hope and transformation for youth in our community.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Types of Bequests
There are several ways you can make a bequest to New Pathways for Youth.
Specific Bequest
A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to New Pathways for Youth.
Percentage Bequest
Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to New Pathways for Youth.
Residual Bequest
A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to New Pathways for Youth
Contingent Bequest
A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to New Pathways for Youth
Sample Bequest Language
To make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to New Pathways for Youth in your estate plan. We have provided some basic bequest language to assist you and your attorney.
Specific Bequest
If you are considering making an outright bequest to New Pathways for Youth, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to New Pathways for Youth, a nonprofit organization located at 901 E. Jefferson St, Phoenix, AZ 85034, Federal Tax ID # 86-0615007, for New Pathways for Youth’s general use and purpose.
Bequest of a Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to New Pathways for Youth, a nonprofit organization located at 901 E. Jefferson St, Phoenix, AZ 85034, Federal Tax ID # 86-0615007, for New Pathways for Youth’s general use and purpose.
Bequest of a Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to New Pathways for Youth a nonprofit organization located at 901 E. Jefferson St, Phoenix, AZ 85034, Federal Tax ID # 86-0615007, for New Pathways for Youth’s general use and purpose.
Percent Bequest
If you are considering making a bequest of a percentage of your estate to New Pathways for Youth we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to New Pathways for Youth, nonprofit organization located at 901 E. Jefferson St, Phoenix, AZ 85034, Federal Tax ID # 86-0615007, for New Pathways for Youth’s general use and purpose.
Residual Bequest
I hereby give, devise and bequeath to New Pathways for Youth, a nonprofit organization located, 901 E. Jefferson St, Phoenix, AZ 85034, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for New Pathways for Youth’s general use and purpose.
Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise, and bequeath to New Pathways for Youth, a nonprofit organization located at 901 E. Jefferson St. Phoenix, AZ, 85034, Federal Tax ID #86-0615007, DESCRIPTION OF PROPERTY to be used for New Pathways for Youth’s general use and purpose.
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give New Pathways for Youth flexibility should it no longer be possible for New Pathways for Youth to use your gift as you originally intended:
If, in the judgment of the management of New Pathways for Youth, it shall become impossible for New Pathways for Youth to use this bequest to accomplish the specific purposes of this bequest, New Pathways for Youth may use the income and principal of this gift for such purpose or purposes as determined is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact our philanthropy team at philanthropy@npfy.org if you have any questions about how to make a bequest to New Pathways for Youth or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for New Pathways for Youth in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
Regarding Legal Advice: This suggested bequest language is provided to you for your information and your attorney’s use; your will should be prepared by a reputable attorney. We urge you to discuss your estate and tax situation with your attorney to ensure that your bequest meets your personal and financial goals.