To make a residual bequest

A residual bequest comes to us after your estate expenses and specific bequests are paid:

I give and devise to Pals For Life (Tax ID #22-2540440), located in Wayne, PA, 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.

To give a specific amount

Naming Pals For Life as a beneficiary of a specific amount from your estate is easy:

I give and devise to Pals For Life (Tax ID #22-2540440), located in Wayne, PA, the sum of $___________ (or asset) to be used for its general support (or as an endowment).

To give as a contingent

Pals For Life can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:

If (insert name) is not living at the time of my demise, I give and devise to Pals For Life (Tax ID #22-2540440), located in Wayne, PA, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or as an endowment).

To give as beneficiary of IRA

You may name Pals For Life (Tax ID #22-2540440) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.

Naming Pals For Life as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Pals For Life as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Pals For Life free of both estate and income taxes.

Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify Pals For Life.

939 Radnor Road   |   Wayne PA   |   19087   |   610/687-1101   |    info@palsforlife.org
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