Sample Gift Language for your Will or Revocable Living Trust
A gift to OCA in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
- is easy to arrange.
- will not alter your current lifestyle in any way.
- can be easily modified to address your changing needs.
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
“I give and devise to Omaha Christian Academy, located in Omaha, NE all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).”
Specific Gift Language
Naming OCA as a beneficiary of a specific amount from your estate is easy:
“I give and devise to Omaha Christian Academy, located in Omaha, NE, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).”
Contingent Gift Language
OCA or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
“If (insert name) is not living at the time of my demise, I give and devise to Omaha Christian Academy, located in Omaha, NE, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).”
Life Insurance Beneficiary Language
Life insurance is a simple solution for transmitting a capital in a context that is fiscally advantageous. At any moment, you may choose to designate OCA as the beneficiary or co-beneficiary of a life insurance policy at term or the time of your death.
Retirement Plan Beneficiary Language
You may name OCA as a beneficiary of your IRA or other qualified retirement benefits. Naming OCA as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming OCS as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support OCA free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify OCA. We can also assist you with the proper language for your beneficiary designation to OCA.
If you are an IRA owner age 70 1/2 or older you may want to consider giving directly to OCA from your IRA. This can satisfy your annual required distribution and reduce your adjusted gross income for tax purposes. Consult your tax professional and IRA holder to see if this direct gift would be a great way for you to give.
If you or your attorney or estate planner would like OCA to provide you with customized beneficiary language that is specific to your goal and interest, please contact our Development Office at 402-399-9565 or firstname.lastname@example.org.