Estate Planning
Including Sonoran Glass School in your Estate Plans
Making a bequest in your will, living trust, or with a codicil is an excellent way to support the mission and programming of the Sonoran Art Foundation Inc (dba Sonoran Glass School). Making a gift by bequest allows you to continue to use any property you would leave to charity during your lifetime, while still leaving a lasting legacy that will inspire people of all ages to discover the wonder of glass art.
Types of Bequest
There are several ways you can make a bequest to Sonoran Glass School.
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 $10,000 to Sonoran Glass School.
Percentage Bequest: Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Sonoran Glass School.
Residual Bequest: A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the remainder of your estate to Sonoran Glass School.
Contingent Bequest: A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Sonoran Glass School.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
To make a bequest, you should speak with your attorney, who can help you include Sonoran Glass School in your estate plan. We have provided some basic bequest language to assist you.
Specific Bequest
If you are considering making an outright bequest to Sonoran Glass School, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _ and No/100 dollars ($DOLLARS) to Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, for the Sonoran Glass School’s general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, for the Sonoran Glass School’s general use and purpose.
Bequest of 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 Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, for the Sonoran Glass School’s general use and purpose.
Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Sonoran Glass School, 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 Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, for Sonoran Glass School’s general use and purpose.
Residual Bequest
I hereby give, devise and bequeath to Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Sonoran Glass School’s general use and purpose.
Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Sonoran Art Foundation Inc dba Sonoran Glass School, a nonprofit organization located at 633 W. 18th St., Tucson, AZ, 85701, Federal Tax ID #86-1041970, DESCRIPTION OF PROPERTY to be used for Sonoran Glass School’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 or estate planner to help you identify ways to meet your charitable objectives. We will also work with you to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney or estate planner include the following provision to give Sonoran Glass School flexibility should it no longer be possible for Sonoran Glass School to use your gift as you originally intended:
If, in the judgment of the Board of Directors of Sonoran Art Foundation Inc dba Sonoran Glass School, it shall become impossible for Sonoran Glass School to use this bequest to accomplish the specific purposes of this bequest, the school may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have any questions about how to make a bequest or to request additional information that might be helpful to you and your attorney or estate planner.
Legal Name: Sonoran Art Foundation Inc, dba Sonoran Glass School
Address: 633 W. 18th St., Tucson, AZ, 85701
EIN number: 86-1041970
If you have included a bequest for Sonoran Glass School in your estate plan, please contact us to let us know. We would like to thank you and recognize your gift.
For more information, please contact Dennis Treadwell, Director of Development and Marketing at [email protected] or call 520-884-7814.