What is a bequest?
A bequest is a gift by will of personal or real property -- a legacy. A will is a legal document by which a person makes a disposition of his or her property to take effect after his or her death, and which by its own nature is ambulatory and revocable during his lifetime. You may name The Home of the Innocents, Inc. in your will to receive a charitable bequest.

How Will the Home of the Innocents Use My Bequest?
You can make an unrestricted gift, or you can restrict the use of your gift to a purpose that you designate.
An unrestricted charitable bequest provides funds that the charity uses for its general purposes. This type of bequest can be of greatest use to a charity because it allows the charity to determine the areas of greatest need.
Each example could also be restricted to specific uses that the donor designates. A restricted charitable bequest permits the charity to use the gift only in a specified manner, for example, for a certain program. The gift may be added to the endowment with income only to be used for the specific purpose. Or, the entire gift may be designated for a specific purpose. It is wise to have any such restriction as broadly defined as possible, which insures that the ability to use the gift as designated will not be frustrated because of changing circumstances. It is best to work with the charity prior to making a bequest limited to a specific use, so that there is assurance that the charity will be able to comply with the restriction.
If you choose to make a restricted bequest, you may restrict the gift to using income only; or you may restrict the entire gift to be used for a specific purpose only.

Are There Different Kinds of Bequests?
There are a number of different ways to make a bequest. These are a few of the more common methods. Each of these examples is shown as being unrestricted. Each type of bequest could also be restricted to a specific purpose, if you so choose.

Thank you for thinking of the Home of the Innocents!

The Home of the Innocents, Inc. does not render legal, tax or other professional advice. You should always seek advice from an attorney and other professional advisors when considering making a charitable gift. Please contact Lisa Cobb, Major Gifts and Planned Giving Manager, at 502.596.1021 or email us for more information.