Planned giving through a bequest is one of the simplest and most impactful ways to support the Big Horn Hospital Association Foundation. Whether donating a specific item, a monetary amount, or a percentage of your estate, your bequest leaves a lasting legacy of compassion and care.
Types of Bequests
- Specific Asset Bequests
Donate a particular item directly to the foundation. For example:
“I give my vehicle to the Big Horn Hospital Association Foundation.” - Specific Amount Bequests
Specify a monetary contribution in your will. For example:
“I give $5,000 to the Big Horn Hospital Association Foundation.” - Bequest of a Percentage of the Residue
Designate a portion of your remaining estate after expenses. For example:
“I give 45% of the residue of my estate to the Big Horn Hospital Association Foundation.” - Undivided Percentage of Asset Bequests
Donate a portion of a specific asset. For example:
“I give half of my home to the Big Horn Hospital Association Foundation.”
Why Create a Will?
Creating a will allows you to:
- Ensure your assets go to the people and causes you care about.
- Avoid unintended outcomes from state inheritance laws.
- Provide for your loved ones, friends, or charities according to your wishes.
Without a will, state law determines how your estate is divided, potentially overlooking important friends, family, or charitable organizations.
Items to Discuss with Your Attorney
Your will reflects your unique family circumstances and values. Consider discussing the following with your attorney:
- Distribution of your estate.
- Selection of an executor to manage your estate.
- Guardianship arrangements for minor children.
- Lifetime care plans for dependents with disabilities.
- Charitable donations to organizations like Big Horn Hospital Association Foundation.
Typical Components of a Will
A well-prepared will includes:
- Your identification and state of residence.
- Revocation of prior wills and codicils.
- Appointment of an executor.
- Payment of debts, taxes, and administrative expenses.
- Specific bequests and residuary estate designations.
- Provisions for common disaster scenarios.
Flexibility and Updates
Life evolves, and so can your will. You can update your will at any time using a codicil or by creating a new document. Ensure it includes a clause revoking prior versions to avoid confusion.
Your planned gift ensures a healthier future for our community. Thank you for considering this meaningful way to make a difference.
For assistance or more information about planned giving, contact us today!