Charitable Bequests/Wills

Did you know that 3 out of every 5 Americans don't have a will? Be sure to take care of those individuals who are central in your life and protect them from paying unnecessary taxes by meeting with a competent attorney and preparing your will. You can also help to ensure that those who rely on EAC Network for help can continue to learn the skills they need to become self-sufficient.

There are five ways to support us through your will:

• Include a percentage bequest of your estate
• Include a residual bequest for the remainder of your estate once you have made all your specific bequests.
• Include an explicit bequest of an amount of money or specific property (stocks, bonds, etc.).
• Include a contingent bequest should one or more named beneficiaries not survive you.
• Include a life income bequest whereby after your death, income is paid to another individual for his/her lifetime. After that individual's lifetime, EAC will receive the principal. This type of bequest is often set up to provide for elderly parents, family members or friends in special circumstances.

It is advisable to review your will periodically so it can reflect any changes in your marital status, financial situation or heirs. Updating your will can require nothing more than a simple codicil or amendment. A signed copy of your will should be kept in your home, office or safety deposit box. Because many states require that safe deposit boxes are sealed for a period of time after death, a duplicate copy of your will should also be in the hands of your attorney.

Remember, you don't have to be wealthy to make an impact on a charity you care about. By donating to EAC and the causes and people we serve, you can help make sure that we will be there for years to come providing dignity and hope to people from all walks of life. So do yourself a favor; make a will. Then do others in your community a favor; leave a legacy!

Whatever you decide to do, EAC advises you to check with your personal Attorney, Financial Planner or Tax Consultant. If you or your attorney should have any questions, please contact: Beth Seidman via e-mail at beth.seidman@eaciinc.org, by telephone at (516) 539-0150 x123 or mail at 50 Clinton Street, Suite 107, Hempstead, NY 11550.