Supporting the Michigan Roundtable through a Planned Gift

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A Gift in Your Will:  Getting Started

We hope you'll consider including a gift to the Michigan Roundtable for Diversity and Inclusion in your will or living trust. Called a charitable bequest, this type of gift offers these main benefits:

Simplicity. Just a few sentences in your will or trust are all that is needed. Share the sample bequest language below with your estate planning attorney.

 

Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.

 

Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift's full value.

How to Complete Your Gift

How to Complete Your Gift

1. Choose what to give.

Pick from one of these four options.

 A specific bequest gives us a particular piece of property. If you disposed of the property before your death, we won't receive your intended gift because we cannot claim any other property.

 

A general bequest gives us a stated sum of money. If there is insufficient cash in your estate to cover the bequest, other assets may be sold for cash to honor your wishes for us.

 

A residuary bequest gives the "rest, residue and remainder" of your estate, or, more commonly, a percentage of the residue. The residue is what is left  after all other bequests, debts and taxes have been paid.

 

A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if not, the funds would then go to the Michigan Roundtable.

2. Decide how you would like the Michigan Roundtable to use your gift.

Choose from one of the following options.

An unrestricted bequest allows us to use the assets in the most beneficial way, as we determine.

 

A restricted bequest allows you to specify how we are to use the funds. Contact us in advance to be certain your intent can be fulfilled.

 

An endowment bequest allows you to make a permanent gift. Your gift is invested with and becomes part of our endowment and a distribution is made each year. Because the principal remains intact, the fund will support our mission in perpetuity. Contact us in advance for a description of our existing endowment funds.

3. Meet with your estate planning attorney.

Whether you need to create a will or trust, or simply update an old document, you'll want to seek the help of an estate planning attorney.

Share the sample bequest language for the Michigan Roundtable for Diversity and Inclusion with your estate planning attorney:

 

"I, [name], of [city, state ZIP], give, devise and bequeath to the Michigan Roundtable for Diversity and Inclusion, a Michigan nonprofit organization [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

4. Let us know of your plans through a Letter of Support

Please let us know of your gift plans by completing a Letter of Support contained in this link on our website and sending it to Steve Spreitzer at the address contained on the Letter of Support. If you have any questions or require additional information, please contact Steve Spreitzer at (313) 870-1500, ext. 102 or sspreitzer@miroundtable.org. We would welcome the opportunity to thank you for your generous act.

We Can Help

 

Please contact Steve Spreitzer of the Michigan Roundtable at (313) 870-1500, ext. 102 (or) sspreitzer@miroundtable.org with any questions about naming the Michigan Roundtable for Diversity and Inclusion in your will or living trust.

Michigan Roundtable for Diversity & Inclusion

525 New Center One - 3031 W. Grand Boulevard

Detroit, Michigan 48202

Phone: 313-870-1500 - Fax: 313-870-1501