Planned Giving Resources
  • Gift Calculators
  • Gift Illustrations
  • Donor Stories
  • Financial News
  • Articles
  • Downloads
...and much more!

Bequest

One way for you to support the charities and ministries you love is to leave a bequest. A bequest is a gift made to charity in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy.

You can make a single bequest to MB Foundation who will then distribute your gift based on the instructions you provide. This is done on a separate document called a Donor Advised Memorandum that is kept on file at MB Foundation. You can direct your gift to one or more ministries God is calling you to support such as your local church, an educational organization, a missions or service ministry or any other of your favorite charities. You can designate the gift to be used for a specific purpose or have it undesignated and used where needed most.

Your gift(s) can be distributed outright or in the form of an endowment. Your instructions may be changed at any time by completing a new Memorandum. There is no need to change your legal documents (Will, Living Trust or beneficiary forms) unless you want to change the amount of your charitable gift. You are able to honor God at death as you have done throughout your life.

TYPES OF BEQUESTS

There are a number of ways you can make a bequest to benefit charity. You can leave what is called a specific bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to charity. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to favorite charity(ies). Another kind of bequest is called a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving of a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to favorite charity(ies).

BEQUEST BENEFITS

There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes resulting in a larger inheritance for your heirs.

BEQUEST PROCESS & SAMPLE LANGUAGE

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to MB Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Outright Bequest - If you are considering making an outright bequest, we recommend the following language:

BEQUEST OF A SPECIFIC DOLLAR AMOUNT
I hereby, give, devise and bequeath $DOLLARS to MB Foundation, a non-profit organization located at 200 East D St, P.O. Box 220, Hillsboro, KS, 67063 Federal Tax ID #48-1092804. Distributions will be made pursuant to a separate, written Donor Advised Memorandum on file with MB Foundation.

BEQUEST OF SPECIFIC PERSONAL PROPERTY
I hereby, give, devise and bequeath DESCRIPTION OF PROPERTY to MB Foundation, a non-profit organization located at 315 S. Lincoln, P.O. Box 220, Hillsboro, KS, 67063 Federal Tax ID #48-1092804. Distributions will be made pursuant to a separate, written Donor Advised Memorandum on file with MB Foundation

BEQUEST OF SPECIFIC REAL ESTATE
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to MB Foundation, a non-profit MB Foundation located at 200 East D St, P.O. Box 220, Hillsboro, KS, 67063 Federal Tax ID #48-1092804. Distributions will be made pursuant to a separate, written Donor Advised Memorandum on file with MB Foundation.

BEQUEST OF PERCENTAGE OF AN ESTATEĀ 
I hereby, give, devise and bequeath PERCENTAGE OF YOUR ESTATE to MB Foundation, a non-profit organization located at 200 East D St, P.O. Box 220, Hillsboro, KS, 67063 Federal Tax ID #48-1092804. Distributions will be made pursuant to a separate, written Donor Advised Memorandum on file with MB Foundation.

2. Restricted Bequest
If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give that will ensure your charitable objectives can be met. We will also work with you and your attorney to craft language to accomplish your objectives. If you are making a restricted bequest, we recommend that your attorney include the following provision to give MB Foundation flexibility should it no longer be possible for MB Foundation to direct your gift as you originally intended: If, in the judgment of the Board of Directors of MB Foundation, it shall become impossible for MB Foundation to direct this bequest to accomplish the specific purposes of this bequest, MB Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

Devotional Signup Form

Sign up for the Giving Meaning to Money® Devotional by filling out the information below.

eStatement Signup Form

*Note: This is not a secured webpage so please only enter the information you are comfortable providing us by email.

First Name *
Last Name *
Mailing Address
City
State
Zip Code
Email *
Phone
Account Number(s)
Preferred Password
Default Password (Optional)

YES I would like my password to be the last 4 digits of my social security number.

Security question
Security question answer
Statement Delivery

Monthly Monthly
Quarterly Quarterly

Discolsure *

YES I understand that my certificate information will be delivered to my email via a secured attachment and I will no longer receive a paper statement.

E-mail devotional

YES Yes, please sign me up for the monthly Giving Meaning to Money e-Devotional.

captcha

Type the text you see above:

Search

Type in the word or term you want to search for in the box below.