Many individuals make charitable gifts by naming non-profits, such as Goodwill, as a beneficiary in their will. The federal government allows these gifts, or bequests, by providing an unlimited estate tax charitable deduction.

Three types of bequests:

Specific bequest

Designate a specific dollar amount, percentage, or specific property in your will to Goodwill.

Residual bequest

All debt, taxes, expenses and specific bequests are paid by your estate. The remaining amount will be transferred to Goodwill Industries.

Contingent Request

You can request that Goodwill receive all or a portion of your estate under certain circumstances. For example – you can name Goodwill as a beneficiary of your estate if there are no surviving family members. Couples without children sometimes request their entire estate to go to a surviving spouse, or if the spouse does not survive, to Goodwill.

Sample bequest language:  I hereby give, devise and bequeath to Goodwill Industries of Akron, the sum of $_________________ or the property or goods described as ______________________________.  I hereby give, devise and bequeath to Goodwill Industries of Akron, the rest, remainder and residue of my estate or __________% of the rest, remainder, and residue of my estate.