A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to the National Shrin​e Grotto of Our Lady of Lourdes that will make a lasting impact.

Benefits of a Bequest

• Receive an estate tax charitable deduction
• Reduce the burden of taxes on your family
• Leave a lasting legacy to charity

​​How a Bequest Works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or the National Shrine Grotto as part of your estate plan, or you can make a bequest using a beneficiary designation form.

Here are some of the ways to leave a bequest to the National Shrine Grotto of Our Lady of Lourdes

• Include a bequest to the National Shrine Grotto in your will or revocable trust
• Designate the National Shrine Grotto as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
• Name the National Shrine Grotto as a beneficiary of your life insurance policy

A bequest may be made in several ways

• Percentage bequest - make a gift of a percentage of your estate
• Specific bequest - make a gift of a specific dollar amount or a specific asset
• Residual bequest - make a gift from the balance or residue of your estate

The method used to make a bequest will depend on the kind of gift you choose to leave to the National Shrine Grotto.
Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.
Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to the National Shrine Grotto. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.

Types of Bequests
There are a number of ways you can make a bequest to the National Shrine Grotto.

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 tothe National Shrine Grotto.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to the National Shrine Grotto.

Residual Bequest. A residual bequest 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 residue of your estate to the National Shrine Grotto.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the National Shrine Grotto.

Bequest Benefits 
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. 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.

Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the National Shrine Grotto in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest
   If you are considering making an outright bequest to the National Shrine Grotto, we recommend the following language:
   
   Bequest of a Specific Dollar Amount
   I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, for the National Shrine Grotto's  general use and purpose.
   
   Bequest of Specific Personal Property
   I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, for the National Shrine Grotto's general use and purpose.
   
   Bequest of Specific Real Estate
   I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, for the National Shrine Grotto's general use and purpose.
   
2. Percentage Bequest
   If you are considering making a bequest of a percentage of your estate to the National Shrine Grotto, we recommend the following language:
   I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, for the National Shrine Grotto's general use and purpose.
   
3. Residual Bequest
   I hereby give, devise and bequeath to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for the National Shrine Grotto's general use and purpose.
   
4.  Contingent Bequest
   If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to the National Shrine Grotto, a nonprofit organization located at 16330  Grotto Rd, Emmitsburg, MD, 21727, Federal Tax ID #52-0591672, DESCRIPTION OF PROPERTY to be used for the National Shrine Grotto's general use and purpose.

Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give the National Shrine Grotto flexibility should it no longer be possible for the National Shrine Grotto to use your gift as you originally intended:

​If, in the judgment of the Board of Directors of Mount St. Mary's University, it shall become impossible for the National Shrine Grotto to use this bequest to accomplish the specific purposes of this bequest, the National Shrine Grotto may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

​Contact us
If you have any questions about leaving a bequest to us, please contact Julie Smith at 301-447-5484 or [email protected]. We would be happy to assist you. If you have been so generous as to include a bequest to the National Shrine Grotto as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.