Learn More About Bequests

A bequest is the simplest way to support the work of the National Building Museum. A bequest:

• Is not payable until death, so it does not affect your assets or cash flow during your lifetime.
• Is private—your will is not filed or made public until your death.
• May be deductible against estate and inheritance taxes.
• Is revocable—you can change the provisions in your will or trust at any time.

Is a bequest tax deductible?

A bequest from a will or trust distribution to the National Building Museum is tax deductible for federal estate tax purposes. A bequest is usually exempt from state inheritance taxes. 

Types of Bequests

1. Unrestricted Bequest

   This type of bequest does not specify the source from which it should be paid. This gives your executor the flexibility to honor the bequest from any available source. It also allows the beneficiary to decide how best to use your bequest.
    
   Example: Jane states in her will: "I leave $50,000 to the National Building Museum."

2. Restricted Bequest

   You can describe exactly what you would like to leave to a specific individual or institution and the designated source in a bequest. If you would like to leave a specific dollar amount from a specific source or a particular item, this is the type of bequest that you should use.
    
   Example: Jane states in her will: "I leave my diamond engagement ring to my daughter, Kathryn. I also leave my securities to the National Building Museum."

3. Other Types of Bequests:

• Residuary Bequest

  This type of bequest is honored after all other bequests have been made, and all debts, expenses, and taxes have been paid.
   
  Example: Jane states in her will: "I give all the rest, residue, and remainder of my real and personal estate to the National Building Museum."

• Contingent Bequest

  This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.
   
  Example: Jane states in her will: "I give all the rest, residue, and remainder of my real and personal estate to my husband, Kenneth, if he survives me; if not, then 50% in equal shares to my children who survive me and 50% to the National Building Museum."

If you decide to make a bequest to the National Building Museum please use our legal name and Tax ID:

 
Our Legal Designation:

If you wish to name the National Building Museum in your will or estate plan, please structure the language as follows:

"I give (the sum of $_______), or (the residue of my estate), or (___% of the residue of my estate), or (the following described property: _____________, located at address/city/state) to the National Building Museum (Tax ID 52-1050999), a private non-profit organization located at 401 F Street, NW, Washington, DC 20001, to be used to further support its mission as such organization's Board of Trustees in their discretion may deem appropriate."

If any of these planning opportunities are of interest to you and you would like to discuss membership in the Cornerstone Society further, please let us know. You can also contact Christina Berkemeyer, Director of Individual Giving, at 202.272.2448, ext. 3501.

The National Building Museum suggests all donors should consult with their tax and/or financial professional before making a gift. All donor information, communicated electronically or otherwise, is confidential.