The Visual Arts Center of Richmond honors those individuals who include the organization in their estate plans with induction into the Elisabeth Scott Bocock Legacy Society.
Bequests allow you to maximize your giving without having to part with your assets while you are living. They also ensure the Visual Arts Center of Richmond has a solid foundation on which to grow.
There are several different ways to make a bequest to VisArts:
- A specific bequest leaves a specified amount of money or a specific asset to the organization. This type of bequest is particularly appropriate in the case of smaller bequests.
- A percentage bequest specifies the percentage of your estate that will go to the organization.
- A residuary bequest gives the organization the assets that remain after providing for others. Estate gifts may support a particular program, project or fund of your choosing. When you make an unrestricted bequest, you give the organization the freedom to use the gift to meet its greatest needs at that time.If you have recently written a will, it is possible to write an amendment, or codicil, to your existing will. Your attorney or VisArts’ director of development can provide you with the appropriate language to include in the document.
One way to leave a lasting gift is to name VisArts as the beneficiary of a life insurance policy or retirement account, such as an IRA or a 401(k). This is easily done by requesting a “change of beneficiary” form from your insurance company or retirement account administrator.
While it’s not necessary, it is helpful to let VisArts’ director of development know your bequest intentions, so that your wishes regarding the designation of funds can be honored.
Thank you for considering making a bequest to the Visual Arts Center of Richmond. If you have questions about joining the Elisabeth Scott Bocock Legacy Society, please contact VisArts’ director of development, Liz Bryant, at [email protected] or (804) 353-4457. All inquiries are confidential.