Planned Giving

OVERVIEW

• Planned giving to Legal Aid Chicago is the most straightforward way for our friends and supporters to realize their charitable goals, while helping to ensure that we continue to provide legal justice for all in Chicago and Cook County.
• Planned gifts can be made to Legal Aid Chicago through your will or trust. Examples of these include securities, a specific dollar amount named in your will, and a percentage of your estate outlined in your trust.
• Another means of making a planned gift is by designating Legal Aid Chicago as a beneficiary of your retirement account (like an IRA, 401(k), and 403(b)); a donor advised fund; and/or a life insurance policy.

WILLS & BEQUESTS

A bequest is a gift of property or funds that you specify in your will to be transferred to Legal Aid Chicago upon your death. A bequest can take various forms:

• A specific bequest is the simplest and most familiar way to make a planned gift to Legal Aid Chicago in your estate plan. A specific bequest states that Legal Aid Chicago will receive a designated sum or specific asset (for example, real estate, securities, or other property) from your estate.
• A percentage or residuary bequest means that Legal Aid Chicago will receive a fixed share of your estate after taxes, expenses, debts, and other specific bequests have been paid. Residuary bequests lessen the impact of inflation on your intended gift to Legal Aid Chicago. They ensure that the proportion of your estate which you are leaving to Legal Aid Chicago is constant, regardless of inflation.
• A contingent bequest is contingent on the occurrence of a condition you designate in your estate plan. For example, you could designate Legal Aid Chicago as the beneficiary of all or a portion of your estate if all other beneficiaries named in your will predecease (die before) you. You can work with your attorney to draft a contingent bequest that best expresses your wishes.

RECOMMENDED LANGUAGE

Recommended Language for a Bequest to Legal Aid Chicago

The examples below can be helpful if you are considering a bequest to Legal Aid Chicago. You may wish to provide this suggested language to your attorney when creating or updating your estate plan. These examples include, some, but not all, of the possible bequest structures.  Each benefactor’s situation is unique.

A Specific Bequest

I give (insert dollar amount or specific description of property or asset) to Legal Aid Chicago, 120 South LaSalle Street, Suite 900, Chicago, Illinois, 60603, or its lawful successor.

A Percentage Bequest

I give __% of my estate to Legal Aid Chicago, 120 South LaSalle Street, Suite 900, Chicago, Illinois, 60603, or its lawful successor.

A Residuary Bequest

I give the residue of my estate to Legal Aid Chicago, 120 South LaSalle Street, Suite 900, Chicago, Illinois, 60603, or its lawful successor.

Please note that these examples are samples only and are not intended as legal advice.

 

Need assistance?  Have questions about planned giving?

 Please contact:

Jen Miller, Chief External Relations Officer

jemiller@legalaidchicago.org

(312) 347-8381