Bequest payment is larger than the existing bequest

When a bequest payment is larger than the existing bequest, what is the best way to handle the overpayment?

Planned Gift Additions

Certain types of planned gifts can have additions. You can use the tab to track additions or modifications to the original planned gift. For example, a donor may set up a bequest for a certain amount and later modify it to include more than the initial amount. In this case, you would have the original planned gift for the initial amount. You would also go to the Additions tab of the bequest and add the additional amount. Additions to planned gifts can have their own designations and assets.

The Additions tab appears on the planned gift record for planned gifts of type:

• Charitable remainder unitrust

• Charitable lead unitrust

• Pooled income fund

• Life insurance

• Bequest

• Retirement plan assets

• Testamentary charitable trust

• Living trust

• Other


Other types of planned gifts cannot have additions. If a donor’s planned gift was a charitable gift annuity or a outright gift, for example, you would need to create a second planned gift rather than an addition on the original planned gift.

Note: Additions must be of the same planned gift type as the original planned gift. If the donor has a planned gift of a different type, you would create a second planned gift rather than an addition on the original planned gift.
 

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