An excellent way for you to support the Episcopal House of Prayer’s mission is to leave us a bequest in your will, living trust or with a codicil. When you make a gift by bequest, you can continue to use the property you will leave to charity during your life, while knowing that you will be able to leave a lasting legacy.
EHoP received one of its most significant legacy gifts in May of 2022 when community member Joyce McFarland passed away and bequeathed a wonderful gift of $100,000 to EHoP. Joyce’s gift will support us and our work, and keep her in our memory, for years to come.
Types of Bequests
There are many ways to give to the Episcopal House of Prayer as part of your estate plan. Your planned gift can support us in creating more opportunities for more communities to experience the hospitality, resources, and spiritual community at the House of Prayer.
- Specific Bequest. A specific bequest involves making a gift of a specific asset (such as real estate, other property, or a specific dollar amount). For example, you may wish to leave your home or a specific dollar amount – i.e. $10,000 or $100,000 to the Episcopal House of Prayer.
- 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 Episcopal House of Prayer.
- 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. For example, you may wish to leave 30% of the residue of your estate to the Episcopal House of Prayer.
- 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 Episcopal House of Prayer.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time. 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. Check with your attorney or financial advisor for more information.
More Information
Our tax ID number is: 41-0694727.
Please contact us if you would like to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for the Episcopal House of Prayer in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
