When it's time to plan for the disposition of your estate, remember the people and institutions that have played a role in your life.
If you have supported the AAW during your lifetime, believe in our mission, and understand that we will continue to make a positive difference in the world far into the future, please consider making a bequest to the American Association of Woodturners. You can help provide for the AAW’s future by including a charitable bequest in your will or revocable trust.
Share this sample bequest and donation language with your estate attorney or other advisor to ensure that your gift is used as you intended. Please contact us with any questions you have during your estate planning process.
A bequest is easy to arrange (see sample text below)
A bequest can deliver a specific gift to the AAW, i.e., "I bequeath the sum of $10,000." Or it can deliver a percentage of the balance remaining in your estate after taxes, expenses, and specific bequests have been paid – what's known as the residue of your estate ("I bequeath 10% of the residue of my estate"). Generally, giving a percentage of the residue allows for more flexibility in your long-term planning.
A charitable bequest or trust distribution is deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.
After you have made your bequest to the AAW, please notify our office staff by email or call (651) 484-9094 regarding your intentions. Your notification affords us the opportunity to welcome you into the AAW’s Founders Society, a special group who has made provision for the AAW in their estate plans.
Sample Bequest and Designation Language
Here are three ways to give back to the AAW.
1. Unrestricted bequest for general purposes
2. Bequest for endowment
3. Restricted bequest for endowment (a gift in excess of $200,000)
9/6/2016 » 10/16/2016
Member's 2016 Exhibition, Tidewater Turners of Virginia - Norfolk, VA
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