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Charitable Bequest to Camp Fire

It can be as simple as a sentence or two in the body of your will. Your bequest may specify a certain sum of money: "I give to National Camp Fire the sum of $ to be used for general purposes." You may also name a particular asset such as stock shares or a portion of the residue of your estate after other bequests have been paid. Because it is revocable (meaning you can change or cancel it at any time), a bequest provides no current income tax deduction. However, when a bequest is distributed, the amount will be deductible from your taxable estate - potentially significantly reducing the tax burden passed along to your family.

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