The Federation of Gay Games* can ensure that all or a portion of your life’s savings will benefit the Gay Games movement for generations to come. By naming us as a beneficiary in your will, life insurance or retirement plan, your legacy can be added to our growing endowment.
How to make a bequest
The following applies to US residents, but similar measures are available in other jurisdictions. For all these matters, please consult your legal and estate planning advisors.
This is the type of Bequest that is highly recommended by the FGG. A residual Bequest is simply a gift of whatever is left of your Estate – or a percentage thereof – after all your other gifts, taxes and debts have been fulfilled.
This type of bequest maintains its relative value and automatically adjusts as the value of your Estate increases. What’s so important about a residual bequest is that it allows you to decide exactly how much you want to leave to your loved ones, while leaving whatever may be left over to the FGG. It is worth noting that a residual bequest may be worth more to the FGG than a pecuniary bequest.
For example, USD 30,000 – a large sum today, will not have the same value in 20 years time. By dividing your Estate by percentages you can be confident that the gift received will retain its value as your bequest matures.
This means that the FGG can continue to ensure that the Gay Games lives on.
This refers to simply leaving a gift of a set dollar amount determined by you at the time of drawing up or altering your Will.
A specific bequest refers to leaving an item of value to be passed on to the Federation of Gay Games in order to generate funds. A specific bequest is a good way to provide additional support for the FGG on top of a residual bequest, as they provide a way to turn any items not wanted by your loved ones into funds to help ensure the future of the Gay Games.
The wording of your bequest
Our recommended wording for your bequest – whether it be for a specific or residual gift is:
“I give and bequeath (choose one of the following) the residue of my estate both real and personal OR the sum of ……..(or property or shares) to the Federation of Gay Games, to be applied for their general charitable purposes and in respect of such Bequest, I declare as follows:
A general charitable intent shall apply B. The receipt of their Chief Executive Officer, Treasurer or other proper officer shall be sufficient discharge to my executors and trustees C. My executors and trustees shall not be obliged to see nor enquire into the application of money or assets, the subject of such legacy.”
Advising us that you have included the Federation of Gay Games in your Will gives us the opportunity to thank you now for your future gift.
We will also regularly update you with news of the work and achievements of the Federation of Gay Games.
For more information, please contact the Federation’s Officer of Development at firstname.lastname@example.org. Thank you for your support.
* As a nonprofit tax-exempt 501c organization, donations to the Federation of Gay Games can be included as an income tax deduction in the United States of America, subject to certain limitations