Wills

One of the simplest types of planned gifts is a bequest to Playhouse Square in your will or trust. This form of gift is easy to make, allows you to retain complete use and control of your assets during your lifetime and allows you the freedom to change or revoke your gift at any time. In addition, a bequest can be added to your existing plans through a simple document called a codicil, requiring minimal time and expense to you.

To help you get started on your plans and legacy, you can use FreeWill, an online tool that guides you through the process of creating your will or trust. It’s easy to use, accessible online and can be completed in 20 minutes. You can use this resource on its own, or use it to document your wishes before finalizing your plans with an attorney. Start your will today.

Have you already included a gift in your will or trust? Please fill out this form to let us know! We would love to thank you for your generosity.

Although there are no tax advantages during your lifetime, upon your death your estate may receive a charitable deduction for both federal and state estate tax purposes.

Types of Wills

Specific Bequest: A specific bequest is a gift of a particular dollar amount or of a particular piece of property. For example:

“I give, devise and bequeath (dollar amount or description of property) to Playhouse Square Foundation.”

OR

“I give, devise and bequeath 100 shares of ABC Inc. stock to Playhouse Square Foundation.”

Should you wish to direct your bequest to a specific purpose other than general purposes, please contact Playhouse Square to discuss your intentions.
Residual Bequest: A residual bequest is a gift of all or part of your property remaining in your estate after debts, expenses, and specific bequests have been paid. When you use a percentage instead of a specific amount, your gift will remain in the same proportion to your entire estate, regardless of unexpected increases or decreases in its value. For example:

"I give, bequeath and devise (all or ___ percent of) the rest, residue and remainder of the property, both real and personal, wherever situated, which I may own or be entitled to at my death, to Playhouse Square Foundation.”

Should you wish to direct your bequest to a specific purpose other than general purposes, please contact Playhouse Square to discuss your intentions.
Contingent Bequest: A contingent bequest is a gift that takes effect only if other beneficiaries predecease you. For example:

“If neither my spouse or any descendent of mine survives me, then I give, bequeath and devise all the rest, residue and remainder of the property, both real and personal, wherever situated, which I may own or be entitled to at my death, to Playhouse Square Foundation.”

If you have questions, need further information or wish to discuss your plans, contact Leanne Dewyer, Director of Development at 216-640-8411 or email leanne.dewyer@playhousesquare.org.