Do you want to help ensure the future viability and strength of the fluid
. . . then please consider
Including a bequest in your estate plan can complement your financial goals
while supporting the goals of the NFPA Education and Technology Foundation.
It is an easy way to make a significant gift to the Foundation without
affecting your assets during your lifetime.
How does it work?
- You can provide for a future gift to the NFPA Education and Technology
Foundation by including a bequest in your will or revocable trust.
- When the time comes, your designated bequest will be distributed to the
NFPA Education and Technology Foundation for the purpose(s) you specify by
your Personal Representative or Trustee.
What are the benefits?
What should I consider when making a bequest?
- Your assets remain in your control during your lifetime.
- You can modify your bequest if your family or personal circumstances
- The designated amount will not be subject to estate tax in your estate,
possibly reducing estate taxes that may be owed at your death.
- How your gift will be used: You may choose to designate a particular
program as beneficiary of your gift, or you may allow your gift to be used
at the discretion of the Foundation. The unrestricted gifts provide the
Foundation with the flexibility to meet its greatest needs at the time your
bequest is realized.
- What form your gift should take: You may choose to designate a specific
sum or asset, or you may choose to leave a certain percentage of your estate
to the Foundation.
- Priority of your gift: You can decide whether the NFPA Education and
Technology Foundation will benefit outright through your will or revocable
trust, or only after other conditions are met, such as the prior
satisfaction of bequests to heirs and other loved ones.
- Do you want your gift to be long lasting? You have the option of
“endowing” your gift to provide lasting financial resources. Provision of an
endowed gift permits the Foundation to provide long lasting support of our
programs and projects.
Frequently asked questions:
Will my gift be tax deductible?
Under present tax law, bequests to organizations that are recognized as tax
exempt under Section 501(c)(3) of the Internal Revenue Code are excluded
from an individual’s federal taxable estate. The NFPA Education and
Technology Foundation has been recognized as tax exempt since its inception.
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. Simply contact your attorney to prepare a codicil to your Will or
an Amendment to your revocable trust. The codicil or amendment can add a new
provision providing a bequest to add the NFPA Education and Technology
Foundation while reaffirming the remaining original terms.
It’s simple—Sample bequest language
A general bequest: “I give the sum of __________ dollars ($______.00) to the
NFPA Education and Technology Foundation of Milwaukee, Wisconsin to be used
for its general purposes.”
A residuary bequest: “I give _______ percent (__%) of the residue of my
estate to the NFPA Education and Technology Foundation of Milwaukee,
Wisconsin to be used for its general purposes.”
Gift for restricted purpose: “I give ______________ to the NFPA Education
and Technology Foundation of Milwaukee, Wisconsin to be used in support of
the following purpose(s)_____________________.
Examples of purposes which could be included are:
- A research project of the Foundation’s choosing
- Teaching initiatives/resource development
- The NFPA Fluid Power Challenge
If it becomes inappropriate or impossible to accomplish the purpose of the
gift as described herein, then the NFPA Education and Technology Foundation
may designate this bequest to be used for the benefit of a substantially
If you intend to restrict your gift to a specific purpose other than one set
forth above, we recommend that you ask the NFPA Education and Technology
Foundation to review your intended purpose to be certain that your wishes
can be appropriately followed.
Are there other easy ways for me to provide for a benefit to the NFPA
Education and Technology Foundation?
- Designation of Foundation as a Life Insurance Beneficiary.
Life insurance provides a relatively inexpensive way to ensure financial support for
spouses or other dependents. When an existing policy is no longer needed to
satisfy its original purpose (e.g., the children are grown, the spouse is
well provided for), the policy can be an ideal asset to fund a charitable
gift larger than anything you might be able to fund during your lifetime.
Life insurance proceeds resulting from policies that you own are a taxable
portion of your estate when you die, unless you designate your spouse or a
charity as your beneficiary. By designating the NFPA Education and
Technology Foundation as the beneficiary of your life insurance policy, the
insurance proceeds will be removed from your taxable estate at your death,
and you will be assured that 100% of the designated amount will be applied
in furtherance of the Foundation’s general mission or for the specified
purposes you designate.
- Designation of Foundation as a Retirement Plan or IRA Beneficiary.
remaining in an individual’s retirement account at death may be subject to
both income and estate taxes. Even if your estate is not large enough to
trigger imposition of estate tax, withdrawals of proceeds from qualified
retirement plans or traditional IRA’s by individuals will constitute taxable
income regardless of your relationship to the individual beneficiary. These
taxes will not apply if you designate a qualified charity such as the NFPA
Education and Technology Foundation as the beneficiary of your retirement
account. In order to designate the Foundation as a beneficiary of your
retirement account, request a beneficiary designation form from your plan
administrator or custodian and designate the “NFPA Education and Technology
Foundation” as your beneficiary. Because any designation of your retirement
plan for the NFPA Education and Technology Foundation should complement your
overall estate plan, we recommend that you consult with your professional
advisers as part of the process. Please note that your spouse may have to
consent to your designation if you are married.
This information contained on this website is not intended to be legal or
tax advice. Please contact your attorney if you are considering using any of
the planned giving techniques discussed above.
information about Planned Giving, contact Sue Chase at 414-778-3376 or