Wills & Living Trusts

Through a will or living trust you can make gifts to Gokulam – Bhaktivedanta Children’s Home that may be larger than anything you could give in your lifetime. Your kindness, generosity and compassion will live on after you are gone. A trust is a contract between you and your appointed trustee, who manages and distributes assets in your estate according to your wishes. A bequest is a gift made through a will or trust. You may leave a cash gift, securities, real estate, or other appreciated assets. The process to make a bequest is very simple. Gifts through wills, living trusts, or retirement plans offer a number of unique advantages.

Advantages of this type of gift:

• It is revocable by the donor if the circumstances change.
• It is an excellent way to show your compassion and vision in a tangible way without a financial burden during your lifetime.
• The gift may reduce estate tax for the surviving family members.

How to Structure, and Make a Bequest
To make a bequest you need contact both Gokulam – Bhaktivedanta Children’s Home and your estate planning attorney. If you already have a will, you will need a codicil, which is a legal amendment to your will. We have provided some sample language for bequests below. Bequests can be structured in several ways:

• An outright gift is a fixed dollar amount
• A residual bequest leaves the remaining part of your estate to Gokulam – Bhaktivedanta Children’s Home after gifts are distributed to other beneficiaries.
• A contingent bequest makes Gokulam – Bhaktivedanta Children’s Home the beneficiary only if your primary beneficiary(ies) has died.

Sample Bequest
I, ______________________________, of _________________________________ bequeath to Gokulam – Bhaktivedanta Children’s Home of, Sri Lanka, an international nonprofit NGO (non-governmental organization) located in Wattala, Sri Lanka, the sum of $___________________ (or property described herein). This fund is to be used by Gokulam – Bhaktivedanta Children’s Home as it deems advisable.