What’s so important about having a will?

After your death, a will serves as an instruction manual telling your personal representative (executor) how to distribute your assets to others or to a charity that you stipulate.  It is not advised, but if you do not have a lawyer draw up the will, have a Notary or two people who know you sign as witnesses.  It is more convenient to divide your estate according to percentages of the residue (rather than specifying dollar amounts which are subject to change), to ensure that your beneficiaries receive the proportions you desire regardless of specific amounts.

Without a will, you have given up your power as to how your assets will be distributed.  Instead, the laws of the state where you reside (or registered to vote), determine how your hard-earned assets are divided.  When you name Temple of the Goddess in your will the donation is exempt from federal estate taxes.

If you plan to make a charitable gift by will to Temple of the Goddess, please think it through carefully.  First, meet with your attorney to discuss and/or update your will.  Tell her or him exactly how you want your assets disbursed.  Be as clear as possible in describing the amount, or percentage, and/or items you want given to whom.

Leave a legacy by making a gift in your will to Temple of the Goddess.  A bequest is one of the simplest ways to remember that which you care about most. We hope you'll tell us when you have named Temple of the Goddess in your will.  We would very much like the opportunity to thank you for your generosity.

Official legal bequest language for Temple of the Goddess:

“I, [name], of [city, state, ZIP], give, devise and bequeath to Temple of the Goddess [written amount or percentage of the estate or description of property–real estate or personal] for its unrestricted use and purpose, dated [month, day, year].”  Sign the document, and have it witnessed.

If you prefer to remain anonymous, we will keep it confidential.  However, consider that knowledge of your gift can encourage others to do the same.  We will honor your wishes, and appreciate your loving support.

Do I have any choices in the kind of bequest?

There are various options in determining the best type of bequest for you.  There are eight generally accepted ways of making a bequest.  Please discuss them with your attorney as you update your will.

The first four bequests can apply in the case of disbursement of assets to individual heirs or to charitable organizations such as Temple of the Goddess.

Specific bequest.  This is a gift of a specific item to a specific beneficiary.  For example, "I give my ritual items to my niece, Maya."  If that specific property has been disposed of before death, the bequest fails and no claim can be made to any other property.  (In other words, Maya wouldn't receive the value of the ritual items instead.)

General bequest.  Commonly this is a gift of a precise sum of money.  It will not fail, even if there is not sufficient cash to meet the bequest.  For example, "I give $50,000 to my daughter, Mary."  If there is only $2,500 cash in the estate, other assets (real estate property, furniture, etc.) must be sold in order to meet the bequest.

Contingent bequest.  This is a bequest made on condition that a certain event must occur before distribution to the beneficiary.  For example, "I give $50,000 to my son, Joe, provided he obtains a degree before age 30."  A contingent bequest is specific in nature and fails if the condition is not met.  (A contingent bequest is also appropriate if you want to name a secondary beneficiary, in case the primary beneficiary doesn't survive you.)   A sample contingent bequest for Temple of the Goddess could be, “I give $50,000 to the Temple of the Goddess to be applied to purchasing land for a physical temple.”

Residuary bequest.  This is a gift of all the "rest, residue and remainder" of your estate after all other bequests, debts, and taxes have been paid.  For example, you own property worth $500,000, and you intend to give a child $50,000 by specific bequest and leave $450,000 to a spouse or charity through a residuary bequest.  If  debts, taxes, and expenses equal $100,000, there would only be $350,000 left for the surviving spouse or charity.

These remaining four methods of bequests are special considerations when you plan a charitable bequest to help support the mission of Temple of the Goddess.

Unrestricted bequest.  This is a gift for general purposes, to be used at the discretion of our Board of Directors.  This type of gift, without attached conditions, is frequently the most useful, as it allows us to determine the wisest and most direct need for the funds at the time of receipt.

Restricted bequest.  This type of gift allows you to specify how the funds are to be used.  Perhaps you have a special purpose or project in mind.  For instance, Youth Programs, Real Estate Fund, or subsidizing art projects such as Goddess documentaries.  If so, it's best to consult us when you make your will to be certain your intent can be carried out.

Honorary or memorial bequest.  This is a gift given "in honor of" or "in memory of" someone.  We are pleased to honor your request and have many ways to grant appropriate recognition.

Endowed bequest.  This bequest allows you to restrict the principal of your gift, requiring Temple of the Goddess to hold the funds permanently and use only the investment income they generate.  Creating an endowment in this manner means that your gift will continue endowing Temple of the Goddess indefinitely.

Again, a reminder–if you choose to leave a bequest to Temple of the Goddess, please let us know.  We would love to honor your generosity personally.

Note:  The information on this site is not intended as legal, tax, or investment advice. For such advice, please consult your legal, accounting, or other professional advisors to confirm the accuracy and applicability of information and current IRS regulations governing non-cash charitable contributions.