A bequest may be right for you if:
- You want to make a gift to Georgetown Visitation,
- You want the flexibility to change your mind,
- You want continued access to your wealth, should you need it,
- You are concerned about outliving your resources.
A bequest may be right for you if:
Your gifts to Georgetown Visitation help to provide a transformative educational experience that cultivates personal strengths and develops a passion for lifelong learning. It will provide Visitation with the resources to…
|provide spiritual grounding, challenging academics, plentiful opportunities, and a supportive and joyous community;||enable our students to cultivate their God-given gifts with confidence, enthusiasm, and with friends;||guide our students to become self-reliant, intellectually mature, and morally responsible women of faith, vision, and purpose.|
Remembering Georgetown Visitation in your will is a wonderful way for you to make a lasting gift. Large or small, your bequest will make an important contribution to our long-term strength and our ability to carry on with our activities.
But what if you don't have a will or living trust? You are not alone. Most Americans don’t have a will.
If you die without a will, the laws of your state will decide how your estate is divided. Typically, the probate court will divide your estate among your closest surviving family members according to a formula, and none of your estate can go to Georgetown Visitation or any other charity. If you wish to have a say in how your estate is distributed, you must have a will or living trust. We encourage you to work with an experienced attorney to create a will or living trust that accomplishes your goals for your estate.
Ways you can define a charitable gift in your estate plan
There are several ways that you can define the amount of your charitable gift to Georgetown Visitation. They are:
Ways to specify how we may use your bequest
You have several options for telling Georgetown Visitation how we may use your bequest once we receive it. They are:
Make sure we can carry out your wishes
It is very important that your bequest be accurately and clearly described in your estate plan so that we can carry out your wishes as you intended. We are pleased to consult with you regarding the terms of your bequest to make sure that we will be able to carry out your intentions. In order to avoid any possible question that your bequest is to our organization, be sure to include our full legal name and our federal tax identification number in your bequest.
Legal name: Georgetown Visitation Preparatory School
Current Address: 1524 Thirty-fifth Street NW, Washington, D.C. 20007
Tax identification number: 47-1142687
We are happy to provide you with sample bequest language to assist you and your attorney.
You have complete flexibility to change your bequest at any time. If circumstances change in a way that makes you want to revise your gift to us, you can.
Because your bequest is revocable, you do not receive an income tax charitable deduction when you create it. Rather, your estate will receive an estate tax deduction for the full value of your bequest in the year it is made. Depending on a variety of factors, including the size of your estate and estate tax law at the time your estate is settled, this deduction may or may not save estate taxes.
In addition to adding bequest language to your will, here are a few other simple ways for you to make a bequest to us:
Please let us know if you have included Georgetown Visitation in your estate plans. We would welcome the opportunity to thank you for your thoughtful gift and to confirm that we can carry out your wishes.
Carolyn Dotson, a widow, has been a supporter of Georgetown Visitation for many years. Carolyn is in good health now, but does not want to be a financial burden to her children should she require expensive health care in the future.
Georgetown Visitation is one of two charities to which she has been most dedicated. She would like to make a lasting gift to each of them in memory of her husband. After discussing her options with her estate planning advisor, she decides to create a residuary bequest in her will for each of her two favorite charities. Each charity will receive 50% of the remainder of her estate after all other obligations, such as taxes and bequests to her children and grandchildren, have been taken care of.