B.7. Bequest or Deferred Gift
January 1989
Development Policy and Administration Manual
Chapter V. Requirements for Reporting Gifts
Section B. Reporting Categories and Definitions
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BEQUEST OR DEFERRED GIFT
This category identifies gifts originating by bequest or through
a deferred giving vehicle. These definitions are mutually
exclusive; a gift should be classified either as a bequest or as
a deferred gift.
Bequests
Bequests are defined as the actual assets received by provision
of Will or by court order at the distribution of estate assets
following a donor's death. For additional information about
bequests, see Section IV: E.2.
Deferred Gifts
These include charitable remainder unitrusts, charitable remaind-
er annuity trusts, charitable lead trusts, pooled income funds,
externally held trusts, real property with a retained life
interest, and life insurance if it is maintained rather than
surrendered for cash. For additional information regarding
deferred gifts, see Section IV: E.3.