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  • There are three basic kinds of bequests: specific, residuary, and contingent.
     

    • Specific Bequest: A gift of a specific dollar amount.

    • Residuary Bequest: A percentage of your estate after other obligations are met.

    • Contingent Bequest: A gift that only takes effect if other beneficiaries are no longer living.

     
    Residuary bequests are often the simplest and most flexible option, as they adjust automatically with changes to the size of your estate.

    To make a charitable bequest to support the Allen County Public Library, simply include a statement in your will or revocable trust agreement such as:

    "I hereby bequeath to the Allen County Public Library Foundation, a 501(c)(3) charitable entity located at 900 Library Plaza, Fort Wayne, IN 46801 (Federal Tax ID# [Tax ID Number]), the sum of $$$ (or __% of my residuary estate)."

    Please note that gifts to the Allen County Public Library Foundation are exempt from estate tax.
     

  • A bequest of retirement plan assets might be the most tax effective gift you can make. Many people do not know that when retirement plans are left to an individual other than a spouse, they can be subject to income and estate taxes. Sometimes, the combination of income and estates taxes can significantly reduce the amount left for distribution to beneficiaries. A gift to the Allen County Public Library Foundation would not be subject to either tax.
     

    Adding the Allen County Public Library Foundation as a beneficiary of your IRA or pension fund does not require revising or amending your will. You should contact the administrator of your plan to find out how to make this change.

  • By including the ACPL Foundation in your estate plan, you help guarantee that the library remains a vital community resource for decades to come.

     

    Members of the Allen County Public Library Foundation’s board and advisors (who are unpaid volunteers) would be happy to have an informal, exploratory conversation with you about the giving opportunities and options that might work best for your goals and circumstances.

     

    The Foundation does not provide legal or financial planning advice. The Foundation strongly encourages you to consult with your attorney or financial advisors to make sure that the gift you choose will make sense as part of your overall estate plan.

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