Remembering SVDP in Your Will
The most popular way for supporters to remember SVDP in their estate planning is through a bequest—a gift in their will. You can leave a specific dollar amount or asset, a percentage of your estate, or the residue of your estate. These gifts help you leave a legacy and lessen the burden of taxes on your family.
Below are the two main types of bequests and the language required to name SVDP as a beneficiary in your will.
RESIDUAL BEQUEST: This ensures your loved ones and friends are provided for first and gives SVDP whatever is left.
“I devise the residual of my estate, after the satisfaction of all specific bequests and payment of all taxes and other costs attending my death, to the Society of St. Vincent de Paul, District Council of Cincinnati, Tax # 31-0537510, with principal offices currently located at 1125 Bank Street, Cincinnati, Ohio 45214.”
SPECIFIC BEQUEST: This states a fixed dollar amount, a percentage of your estate, or a specific asset to go to SVDP. This could include gifts of cash, securities, or personal property to be designated to SVDP.
“I bequeath (the sum of $_______) or ( ______% of the net value of estate) or (describe the specific asset to be gifted) to the Society of St. Vincent de Paul, District Council of Cincinnati, Tax # 31-0537510, with principal offices currently located at 1125 Bank Street, Cincinnati, Ohio 45214."
Another easy and popular way to leave SVDP an estate gift is by designating St. Vincent de Paul as your beneficiary. You can make SVDP a beneficiary for your IRAs and retirement plans, life insurance policies, commercial annuities, or even your bank accounts.
These gifts leave your legacy of hope as well as lessening tax burdens for your family and helping your assets avoid probate.
Here are three simple steps to name SVDP as your beneficiary:
- Contact your retirement plan administer, insurance company, or bank/financial institution for a change-of-beneficiary form.
- Decide what percentage (1-100%) you would like SVDP to receive, and name us, along with your chosen percentage, on the form.
- Return the completed form to your plan administrator, insurance company, or bank/financial institution.
For more information about remembering St. Vincent de Paul in your will or naming SVDP as your beneficiary, please contact SVDP’s Planned Giving and Grants Manager, Daniel Flynn, at 513-345-4994 or firstname.lastname@example.org.