Leave a Legacy Planned Giving with The Arc of Essex County

July 10th, 2019

One way for you to support The Arc's mission is to leave a bequest. A bequest is a gift made to charity in your will or trust. One significant benefit of making a gift by bequest is that it allows you to continue to use the assets/property you may leave to charity during your life. Another benefit is that by making a bequest you are able to leave a lasting legacy for the work of The Arc.

Once you know how you wish to include The Arc in your estate plans, contact The Arc of Essex County  to confirm the correct organization name and address (which your attorney will need). Keep in mind that your gift can be for a specific amount, a percentage or some portion of the remainder (after family, relatives and friends have received their designated share). Below are examples of language you can use with the correct name and address of The Arc of Essex County (where you wish your gift directed).

Types of Bequests
There are a number of ways you can make a bequest to The Arc. You can leave what is called a specific bequest. A specific bequest involves making a gift of a defined dollar amount, a particular tangible asset such as real estate, a car, other property or even shares of stock. For example, you may wish to leave your home, a portion of its value or $10,000 to The Arc of Essex County. Another kind of specific bequest involves leaving a percentage of your overall estate to charity.

There is also the options of a residual bequest. A residual bequest is a bequest that is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the remaining value of your estate to The Arc of Essex County.

Bequest Benefits
There are no limitations on bequest gifts. Bequests may be made for a general or specific purpose. All bequests to tax-exempt entities approved by the IRS are not subject to estate taxes. Please be sure to consult your tax advisor for advice regarding your own personal situation. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes resulting in a larger inheritance for your heirs.

I Want to Learn More
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to The Arc of Essex County in your estate plan. If you wish to include The Arc of Essex County, please provide the following address and Federal Tax ID number to your attorney:

The Arc of Essex County, Inc.
123 Naylon Avenue
Livingston, NJ 07039
Federal Tax ID #22-1546173

Please contact Heather Comstock, Senior Director of Development and Communication at The Arc of Essex County for further assistance at 973-535-1181 x1224 or via email at hcomstock@arcessex.org.