HELPING THROUGH BEQUESTS
When a friend of Grace Bible College remembers the college in his or her will, they donor provides financial resources of lasting value to Grace students.
A bequest may be unrestricted – that is used for a general purpose – or it can be designated for a particular use. Bequest for a particular use. Bequest may take one of several forms.
• a bequest of a specific amount of cash or a specific asset,
• a percentage of one’s net estate (for example, 20% of one’s estate after expenses and taxes are paid),
• a residual bequest (for example, whatever remains after family members of friends are cared for through specific amounts),
• a bequest creating a trust (for example, setting up a Charitable Remainder Trust that will pay out to beneficiaries for a period of time with the remainder to GBC).
If you do not have a will or living trust arrangement, it is very important to contact an attorney to establish an estate plan. If you have a plan in place, it should be reviewed regularly in order to account for any life changes (births, deaths, etc.). also, as stewardship desires change, your trust document should be modified.
Please contact Steve Hilbrands for more information.