Bequests, explained.
A bequest is a gift left to ANMS in your will or trust. A bequest costs you nothing during your lifetime, is simple to arrange, and may be modified at any time to address you or your family’s changing needs.
How Bequests Work
Include a gift to ANMS in your will or trust.
Make your bequest unrestricted or direct it to a specific purpose (general endowment or a new or existing Named Fund).
Include a specific amount or a percentage of the balance remaining in your estate or trust.
Benefits
Your assets remain in your control during your lifetime.
You may modify your gift to address changing circumstances.
You may direct your gift to a particular purpose (be sure to check with our Advancement office to make sure your gift can be used as intended).
Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests. (Be sure to consult your tax specialist)
Residual Gift Sample Language
I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific Named Fund or program).
Name ANMS as a beneficiary of a specific amount from your estate:
I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific Named Fund or the Endowment).
Contingent Gift
If (insert name) is not living at the time of my death, I give, devise, and bequeath to All Newton Music School, Inc. (Tax ID#04-2104782), located in West Newton, MA, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific Named Fund or the Endowment).