A residual gift, also known as a residual bequest or a percentage bequest, is a type of charitable donation made through a will or trust. In this type of gift, the donor designates a percentage of their estate's residue (the remaining assets after specific bequests and expenses have been paid) to be given to a chosen charity or organization.
If you wish to amend an existing Will and include Color de Cambio, here is sample codicil language you can consider in consultation with your financial planner: "I give to Color de Cambio one hundred percent (100%) of the rest, residue and remainder of my estate for its general purposes."
A fixed gift amount, also known as a specific bequest, is a type of charitable donation made through a will or trust in which the donor designates a specific sum of money or a particular asset to be given to a chosen charity or organization. This amount or asset does not change, regardless of fluctuations in the donor's estate value.
A gift of life insurance is a thoughtful way to support a charity or organization through a life insurance policy, either by naming the organization as a beneficiary or by transferring ownership of the policy. This type of gift provides significant benefits to both the donor and the recipient.
Transfer ownership of a paid-up policy with Color de Cambio named as beneficiary. You can create a current charitable tax receipt for fair market value of the policy or defer the tax receipt to your estate.
Transfer ownership of a partially paid-up policy with Color de Cambio named as beneficiary. You will receive a charitable tax receipt for fair market value of the policy and an annual tax receipt for your on-going premium payments.
Take out a new policy with Color de Cambio as owner and beneficiary, and receive an annual charitable tax receipt for on-going premium payments.
Assign Color de Cambio as the beneficiary of your individual or workplace policy. Your estate will receive a charitable tax receipt.
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