Gifts of wills and living trusts

Many people find leaving bequests to the nonprofits they believe in to be the best way to leave a legacy for their families. For those who have already made out a will, adding a codicil can ensure that North Star Fund receives a specific amount or a percentage of an estate.
  • You are making a significant and valuable commitment to North Star Fund's future while retaining your assets during your life.
  • Your estate receives an estate tax deduction for the full amount of your bequest with no upper limit.
  • You can direct your bequest to the purpose that is most meaningful to you at North Star Fund.
  • You can change the terms and amount of your bequest if your financial or personal circumstances change.

There are four principal ways you can include North Star Fund in your will:

  1. Specific Bequest:  You can give a specific amount or a specific asset.
    “I leave $100,000 to North Star Fund.” OR “I leave my house on West End Avenue to North Star Fund.”
  2. Percentage Bequest:  You can designate a percentage of your estate to North Star Fund.
    “I leave 30% of my estate to each of my three children and 10% of my estate to North Star Fund.”
  3. Residual Bequest:  You can stipulate that North Star Fund (or other charities) receive a percentage of whatever is left in your estate after all the specific bequests are completed.
    “I leave what is left (or a percentage of what is left) after all my specific bequests and debts are taken care of to North Star Fund."
  4. Contingent Bequest:  You can leave North Star Fund what is in your estate if your direct beneficiaries are no longer living.
    “If my husband does not survive me or for some reason is unable to receive my assets or disclaims this bequest, I direct that it be paid to North Star Fund."

If you would like to be referred to estate lawyers who work with North Star Fund, call 212-620-9110 or send an email to Kofo Anifalaje, Development Officer at Kofo@northstarfund.org.