Who can give?
Anyone can make a planned gift. It doesn’t matter how large or small your estate is. For many people, the simplest option is to give a certain percentage of their estate to the church after setting aside a percentage for children or other heirs.
Types of gifts
You don’t need a will in order to make a planned gift, though it is always a good idea to consult an attorney and prepare a will. Without a will, or in addition to a will, you can make the church a beneficiary of your 401(k) retirement account, bank account, or life insurance policy.
The most common planned gift is a bequest, which means naming the church in your will. For some people, a charitable gift annuity or other investment plan makes sense. Talk to your attorney about what options are best for your individual circumstances and goals.
In a will, a bequest might look something like this:
I give, devise, and bequeath to Grace Episcopal Church X percent of the rest, residue and remainder of my estate as an unrestricted gift, to be used at its sole discretion (Source: Episcopal Church Foundation).