Legal Definitions - charitable bequest

A charitable bequest is a gift of money or property made to a qualified charity or non-profit organization through a person's last will and testament. It is a way for individuals to leave a legacy and support causes they care about after their death.

A charitable bequest is a gift of personal property or money made through a person's last will and testament to a qualified charitable organization. It is a specific instruction within a will that directs a portion of the deceased's assets to a non-profit entity, supporting causes or institutions the individual wished to benefit after their death.

Here are some examples illustrating a charitable bequest:

• Example 1: Monetary Gift to a University Scholarship Fund

  A retired professor includes a clause in their will stating, "I give and bequeath the sum of $100,000 to the University of [State Name] to establish an endowed scholarship fund for students studying literature."

  This is a charitable bequest because the professor is directing a specific amount of money (personal property) to a recognized charitable institution (the university) for a charitable purpose (scholarships), as outlined in their will.

• Example 2: Percentage of Residual Estate to an Environmental Group

  After all specific gifts and debts are paid, a will specifies that "25% of the remainder of my estate shall be given to the National Wildlife Preservation Society."

  This demonstrates a charitable bequest as a portion of the deceased's remaining assets (personal property) is designated for a non-profit environmental organization, as stipulated in their will.

• Example 3: Collection of Books to a Public Library

  An avid reader's will contains the instruction, "My entire collection of first-edition science fiction novels shall be donated to the City Public Library for their special collections archive."

  This is a charitable bequest because a specific collection of valuable books (personal property) is being given to a charitable institution (the public library) according to the donor's last wishes expressed in their will.