Bequest Description

You'd like to help build the long-term financial strength of Oasis Ministries, but feel you cannot make a significant gift today. Your solution may be a charitable bequest. A bequest under your will or revocable trust can complement your lifestyle and commitments today while supporting Oasis Ministries tomorrow.

Donors choose a bequest because:

• It is not payable until death, so it does not affect your assets or cash flow during your lifetime.
• It is revocable – you can change the provisions in your will or trust at any time, and
• It is private – your will is not filed or made public until your death.

Your giving options are increased

1. A bequest can deliver a specific gift to Oasis Ministries ("I bequeath the sum of Ten Thousand [$10,000] Dollars"). Alternately, it can deliver a percentage of the balance remaining in your estate after taxes, expenses and specific bequests have been paid — what's known as the residue ("I bequeath Ten [10%] Percent of the residue of my estate").
2. You can designate that a particular program or activity at Oasis Ministries benefit from your bequest. Or, you can make your gift unrestricted and allow us to use it for the needs and opportunities most relevant when your gift is paid to us.

Is a bequest deductible?

A bequest from a will or a trust distribution to Oasis Ministries is fully deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.

What is the difference between a will and a trust?

A will is your instruction manual to survivors about how you want your property distributed. It is a revocable, private document that only takes effect after your death.

A revocable trust is an entity that holds assets during your lifetime, then transfers ownership of them — or benefit from them — upon your death.

There is no difference between wills and trusts in how they make charitable transfers. In some states the probate and distribution process is simpler with a revocable trust. Your advisors can guide you in choosing which vehicle will work better for you.

Planning points

1. The more narrowly you restrict the use of your bequest, the greater the risk that the program you want to benefit today won't be as vital or as relevant when we receive your gift in the future. Please talk with us as you are drafting your will if you want to restrict the use of your bequest.
2. Similarly, please let us know in advance if you intend to bequeath real estate, a business interest, or other specialized property to Oasis Ministries.
3. The remaining balance in your retirement plan makes a tax-wise gift to Oasis Ministries, but don't direct it to us through your will or trust – that will include the plan in your taxable estate. Use your plan's successor beneficiary form, instead.

What if I've already written my will or trust?

You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document, called a codicil, which adds a new bequest to us while reaffirming the other terms of your will. Similarly, an attorney can prepare an amendment to a revocable trust to add Oasis Ministries as a beneficiary.

• Unrestricted Gift: A gift that can be used where need is greatest
  I give to Oasis Ministries, a non-profit 501(c)(3) Corporation, headquartered in Camp Hill, PA the sum of $_______* for its general purposes.
• Gift for a Specific Purpose: A gift that is to be used for a specific purpose
  I give to Oasis Ministries, a non-profit 501(c)(3) Corporation, headquartered in Camp Hill, PA the sum of $_______* to be used for [state purpose].
• Endowment Fund: A gift that provides ongoing support I give to Oasis Ministries, a non-profit 501(c)(3) Corporation, headquartered in Camp Hill, PA the sum of $_______*, to be used as an endowment, the income only from which shall be used for its general purposes (or describe the specific purpose, if desired). After five years, the principal may also be put to use for the same ministry purposes if Oasis Ministries leadership deems that to be in the best interest of the ministry.
• Residuary Bequest: Leaves any remainder after all other bequests have been paid
  All the rest, residue, and remainder of my estate, both real and personal, I give to Oasis Ministries, a non-profit 501(c)(3) Corporation, headquartered in Camp Hill, PA for its general purposes.
• Contingency Gift: Takes effect only if a primary intention can’t be met.
  If (name of beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to Oasis Ministries, a non-profit 501(c)(3) Corporation, headquartered in Camp Hill, PA all of the rest, residue, and remainder of my estate, to be used for its benefit.
• Safety Language: Language added whenever a gift is restricted
  In the event the purposes of the restriction, in the opinion of the Board of Directors of Oasis Ministries can no longer be served, the Board may devote any remaining assets exclusively for charitable purposes that: (a) are within the scope of the charitable purposes of charity (b) most nearly approximate the original purpose of the gift; and (c) benefits charity.

* Rather than leaving a sum certain, you can include language that refers to a percentage of your estate or a description of the property you wish to give.