Bequests

To make a bequest to the American Red Cross, you may wish to share the following language with your lawyer:

“I give, devise, and bequeath to the Southeastern Pennsylvania Chapter of the American Red Cross, 23rd & Chestnut Streets, Philadelphia, PA 19103, the sum of $_______ (or specify a percentage of the estate) to be used for its general purposes.”

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Retirement Plans: Retirement assets such as an IRA or Keogh plan are taxed more heavily than other assets in your estate, because they are subject not only to estate tax, but also to income tax when distributed to your heirs. Naming the Southeastern Pennsylvania Chapter of the American Red Cross as a beneficiary of your retirement plan may be a tax-efficient way to give.

Fulfilling Your Intention: If you wish to have your bequest benefit local families in need, you must specify the Southeastern Pennsylvania Chapter of the American Red Cross. If you have already arranged to make a gift through your will, please check to make sure you have designated your local chapter.

Memorial Bequest: You can make your bequest in the name of someone you wish to memorialize; we can suggest ways to ensure proper recognition.

Contingent Bequest: You can stipulate that the Southeastern Pennsylvania Chapter of the American Red Cross will receive all or a portion of your estate only under certain circumstances--for example, if you are not survived by your spouse or other close family members.

Life Insurance: Many people purchased life insurance policies when they had young children but no longer need the insurance to provide financial security for their families. If you fall into this category, you can make a significant gift without sacrifice by changing the beneficiary of your policy to the Southeastern Pennsylvania Chapter of the American Red Cross. Your insurance agent can make this simple change.