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Planned Giving: Wills / Bequests

 

When you make a bequest to our kids in your Will, you help ensure that Covenant House New Jersey will continue to meet the needs of homeless youth throughout the state of New Jersey for years to come. Never doubt that your generosity and thoughtfulness make a substantial difference. Each year we receive final gifts from our faithful donors, and each year we remember in our prayers those donors who have remembered our kids in their wills.

In addition, including a gift to Covenant House New Jersey in your will lets you reduce or eliminate any applicable estate taxes. The federal government allows unlimited deductions for qualified charitable gifts. Covenant House New Jersey is a qualified nonprofit organization under section 501(c)(3) of the Internal Revenue Code. Our tax identification number is 13-3537710.

*If you have already remembered our kids and Covenant House New Jersey in your will, please let us know. We will want to keep you informed regarding changes in the laws affecting estate planning, and about our ongoing efforts to save kids from the street.

Bequest Wording

The wording in your Will can be as simple as the three possibilities listed below. It is also possible for you to make two, or even all three of these types of bequests in a single will. For example, you might choose to leave a specific dollar amount to Covenant House New Jersey and also name Covenant House New Jersey as your residuary beneficiary.

Three Possible Bequest Wordings

Specific Bequest
Residual Bequest
Contingent Bequest

Specific Bequest

You may designate a specific dollar amount, a specific item, or a specific percentage of your estate that is to benefit Covenant House New Jersey. A sample specific bequest would be:

“I give, devise and bequeath to Covenant House New Jersey, a New Jersey charitable corporation with offices at 330 Washington Street, Newark, NJ 07102, the sum of $___________, and/or securities or other properties herein, namely ____________, (describe the specific property or security you intend to give) to be used for the ongoing programs and services provided by Covenant House New Jersey."

Residual Bequest

You may leave Covenant House New Jersey all, or a portion, of what is left (“the residue”) after all your specific bequests have been fulfilled. A sample residual bequest would be:

"I give to Covenant House New Jersey, a New Jersey non-profit organization located at 330 Washington Street, Newark, NJ 07102, all (or ____ %) of the rest, residue and remainder of my estate, both real and personal property of whatever kind and wheresoever situated."

Contingent Bequest

You can make Covenant House New Jersey the beneficiary of your Will in the event your primary beneficiary is not available or is unable to meet conditions you have set. For example, if there are no surviving family members, all or a portion of the estate could go to Covenant House New Jersey. A sample contingent bequest would be:

"If any of the above-named beneficiaries should predecease me or should fail to meet the conditions I have set, I hereby give his/her share of my estate to Covenant House New Jersey, a New Jersey non-profit organization located at 330 Washington Street, Newark, NJ 07102."

At Covenant House New Jersey, we recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. Covenant House New Jersey does not provide legal or tax advice, but our staff are always available to you and your advisors to answer questions or to help arrange a planned gift to Covenant House New Jersey. By remembering our kids in this way you keep the promise of our Covenant with future generations.