What Is a Charitable Bequest, and How Does It Work?

Key Takeaways

• The Plain Definition: A bequest is a gift named inside your will or estate plan, distributed to a person or cause after your lifetime.
• Zero Upfront Cost: Leaving a bequest costs nothing today and does not alter your daily budget or cash flow
• Total Flexibility: A bequest is completely revocable. If your financial situation or family needs change, you can update your choices at any time.

What Is a Bequest (in Plain Terms)?

Three Ways to Structure a Bequest

Most bequests fall into one of three structures. Understanding how they differ helps you pick the option that best fits your family and financial goals.

1. Specific Bequest

A defined dollar amount or particular item assigned to a specific beneficiary (for example, "$10,000 to [Organization]" or "my piano to [Name]"). While straightforward, a specific bequest does not automatically adjust if your estate changes in value significantly over time.

2. Percentage Bequest

A designated share of your total estate value (for example, "5% of my estate to [Organization]"). This is often the most durable choice because it scales automatically. If your estate grows or shrinks over the years, the gift adjusts proportionally without requiring you to update your will.

3. Residuary Bequest

A gift made from whatever assets remain after all specific gifts, debts, taxes, and family provisions are settled. Many people use a residuary bequest to pass "the rest" of their estate to a cause they love, guaranteeing that family obligations are fully satisfied first.

How Do You Actually Leave a Bequest?

Including a cause is simply one guided step within that process rather than a separate legal transaction layered on top of it.

Can You Change Your Mind After Making a Bequest?

Why Don't More People Leave a Bequest Today?

Given how simple a bequest is once you understand it, the gap between interest and action is striking. Research reveals that while only about 5% of Americans currently have a charitable bequest in their estate plan, 28% state they would gladly include one if the option were explained in simple terms. 

That gap is not caused by reluctance. It exists because almost no one walks the average person through what including a cause in a will actually looks like. For most people, legacy giving remains a vague idea for the future rather than something they have been shown how to do in a 15-minute sit-down.

For Nonprofit Teams: Turn Donor Intent Into Legacy Revenue

• White-Labeled Planned Giving Microsite: A dedicated, branded hub on your domain that explains bequests in warm, accessible language. It offers a direct path from "now I understand what a bequest is" to "here's how I can take action."
• Free Guided Will Suite: Donors don't have to search for what to do next. They transition seamlessly into the LotusGiving will-builder to complete their gift.
• Real-Time Partner Dashboard: Once a donor includes your cause, the LotusGiving dashboard shows your team that gift in real time, rather than leaving it to surface only after an estate has already settled.

For Donors: Leave a Lasting Legacy in a Few Clicks

A bequest is one of the simplest ways to support a cause you care about. It costs nothing now, it is flexible if your life changes, and it does not require choosing between the people you love and the causes you believe in. The main barrier is usually not the decision itself: it's that most people have never been shown how easy it is to make.

Frequently Asked Questions About Bequests

Is there a minimum gift amount required to make a bequest?

No. A bequest can be any amount you choose. There is no threshold you need to meet to make a meaningful impact.