Learn About Wills and Bequests
What is a bequest?
A bequest is a gift of personal property, such as money, stock, bonds, that are owned by the donor at the time of his or her death, and that are directed through the donor's will to a beneficiary which can include family members, friends, or a charitable organization. A charitable bequest is one in which personal property is given to a non-profit organization such as Northland College. Your attorney can help you define how your personal assets are distributed upon your death in a way that is meaningful for you.
What are the benefits of making a bequest?
- You leave a lasting legacy to be remembered
- You lessen the burden of taxes on your family
- You may receive estate tax savings