Providing for Southern Baptist causes through the Southern Baptist Foundation in your will is the most popular kind of planned gift. It is normally the easiest to make. It is a simple way to obtain an estate tax charitable deduction.

Your gift through the SBF in your will may take the form of 1) a bequest, 2) a residual beneficiary, or 3) a contingent beneficiary, or you may 4) create a charitable trust for the benefit of a Southern Baptist cause. (click here for more information on charitable trusts.)

A bequest in any one of the forms listed above will reduce your taxable estate --- and lower your estate's tax liability. No limitations are imposed on the total amount that you may give, and therefore deduct. A bequest may actually yield increased inheritance for your loved ones in certain instances when combined with other options available for estate planning.

When you make your will or review your present one, in which you make a bequest, be sure it contains these four very important pieces of information:

Your bequest should be to: "Southern Baptist Foundation, Nashville, Tennessee."

You should include a specific description of the property you wish to give. You can designate a) a specific dollar amount, b) a percentage of your estate, c) your entire estate, d) a specific piece of land, stocks, or bonds, or e) specific articles such as antiques or paintings.

You also should say that your gift is for the "use and benefit of the Southern Baptist Foundation."

If you wish, your gift can be directed to a particular object of your interest such as missions or education.

Summarizing these four points, model language for a bequest through a will would read, for example, "I give, devise, and bequeath to the Southern Baptist Foundation the sum of $25,000 for the use and benefit of Southern Baptist Foundation at Nashville, Tennessee."

There are several forms of bequests. Four of these are listed below for your consideration:

The outright bequest. This is a simple statement that the SBF is to receive a specific portion of your estate.

The residual bequest is used to make bequests to several loved ones or organizations. After listing your gifts to each, you determine that not all of your estate will be distributed. You can then name the Foundation as a residual beneficiary. The Foundation would then receive whatever is left after all other beneficiaries have received their portions.

The contingency bequest provides that the SBF will benefit from an estate only if named beneficiaries do not survive the individual making the will. One of the values of a contingency clause is that an individual can assure that the owned property will not go to unknown persons or organizations.

The bequest in trust provides a substantial gift to the SBF while also providing income for one or more loved ones during their lifetimes. (These types of gifts are discussed in the section on "charitable trusts.")

SUMMARY

The examples included only serve as guides to the basic forms of bequests. Your attorney can best advise you about what forms are adapted to your situation. We have found that it is best to discuss proposed bequests with Foundation officials before your will is prepared. This will assure that your bequest will be administered exactly as you wish. Please feel free to call for advice or assistance. There is no obligation and inquiries are kept confidential.