By naming Fidelity Charitable in your will or as a beneficiary to a qualified insurance policy, retirement plan, or charitable trust, you can extend your support of the charities you love. Plus, reduce—or even eliminate—the burden of estate tax for your heirs by considering the following options:
Charitable bequests are an easy way to leave money to charity in your will. Simply specify a dollar amount, a percentage of your estate, or specific assets or real estate1 you wish to bequeath to Fidelity Charitable. Such bequests are generally allowed as charitable deductions in determining the net value of the taxable estate, and no limitations are imposed on the total amount that can be deducted for qualified charitable gifts against the estate tax.
1Fidelity Charitable generally does not accept non-publicly traded assets or tangible personal property by will unless the estate will liquidate the assets and distribute cash to Fidelity Charitable.
Retirement plans and life insurance policies often end up being the most valuable assets in your estate.
To move these assets out of a potentially high-tax situation and into one that may result in significant tax savings, you can name Fidelity Charitable as either the sole beneficiary or one of multiple beneficiaries of:
Talk to your life insurance provider and retirement plan administrator about making these changes.
You can also name Fidelity Charitable as the beneficiary of a charitable remainder or charitable lead trust. If you have an existing charitable trust and it is set up to benefit a different charitable organization, you may be allowed to change the beneficiary to Fidelity Charitable. This can provide the flexibility to support a greater variety of charities beyond the term of the trust, diversifying your charitable giving.
Bequest in Will where Giving Account at Fidelity Charitable is Established Prior to Death:
I bequeath ________ dollars ($________) [and/or the following described property, ________] [and/or ________ percent (_______%) of my residuary estate] to FIDELITY CHARITABLE, to be allocated to the ________ [Giving Account Name], Giving Account Number ________.
Bequest in Will where Giving Account at Fidelity Charitable is Not Established Prior to Death:
I bequeath ________ dollars ($________) [and/or the following described property, _______] [and/or _______ percent (________%) of my residuary estate] to FIDELITY CHARITABLE, to be held in a donor-advised fund known as the _______ [Giving Account Name]. I hereby name ________ to take all steps necessary to establish such a donor-advised fund at FIDELITY CHARITABLE. I direct ________ to have the same recommendation privileges, including those with respect to distributions and investments, that I would have had as an Account Holder at Fidelity Charitable during my lifetime (with the same authority to designate a successor).
Beneficiary Designation where Giving Account at Fidelity Charitable is Established Prior to Death:
I distribute ________ dollars ($________) [and/or ________ percent (________%)] to FIDELITY CHARITABLE, to be allocated to the ________ [Giving Account Name], Giving Account Number ________.
Beneficiary Designation where Giving Account at Fidelity Charitable is Not Established Prior to Death:
I distribute _______ dollars ($________) [and/or ________ percent (________%)] to FIDELITY CHARITABLE, to be held in a donor-advised fund known as the ________ [Giving Account Name]. I hereby name ________ to take all the steps necessary to establish such a donor-advised fund at FIDELITY CHARITABLE. I direct ________ to have the same recommendation privileges, including those with respect to distributions and investments, that I would have had as an Account Holder at Fidelity Charitable during my lifetime (with the same authority to designate a successor).
Distribution from a Trust where the Giving Account at Fidelity Charitable is Established Prior to Death:
The Trustees shall distribute ________ dollars ($_______) [and/or the following described property, ________] [and/or ________ percent (________%) of my trust assets] to FIDELITY CHARITABLE, to be allocated to the _______ [Giving Account Name], Giving Account Number _______.
Distribution from a Trust where Giving Account at Fidelity Charitable is Not Established Prior to Death:
I bequeath _______ dollars ($________) [and/or the following described property, ________] [and/or ________ percent (________%) of my trust assets] to FIDELITY CHARITABLE, to be held in a donor-advised fund known as the _______ [Giving Account Name]. I hereby direct my Trustee to take all steps necessary to establish such a donor-advised fund at FIDELITY CHARITABLE. I direct my trustee to name ________ to have the same recommendation privileges, including those with respect to distributions and investments, that I would have had as an Account Holder at Fidelity Charitable during my lifetime (with the same authority to designate a successor or additional Account Holders).
Depending on the amount of space available on your beneficiary designation form, you may need to use abbreviations.
Ready to get started?
Call us at 1-800-262-6039 to learn more about estate planning and the several approaches you can take so that your Giving Account continues to support the charities you love.