Many donors elect to provide support in the form of a bequest, effective at the donor’s death and specified in a will or trust agreement. Such charitable bequests are fully deductible for federal estate tax purposes. The structure of a bequest can take many shapes. Frequently, it is a specific figure or asset. Alternatively, it can be a residual estate – or percentage thereof – after non-charitable bequests to family members are fulfilled. In addition, bequests can be given in the form of “illiquid assets” such as art objects, antiques, real estate, rare books, etc. These assets often are troublesome because, in spite of their high valuations, executors may sell these items at depressed prices in order to pay estate taxes. Conveying illiquid assets to the ICLT by bequest eliminates this problem. Your estate planner can draw up wills or trusts with bequests that effectively shelter your assets.