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Classification Of Gifts, Endowments And Charitable Contributions
How are gifts, endowments and charitable contributions classified?
Gifts, endowments and charitable contributions are classified according to the circumstances in which they are given:

1) Without a will, during the giver’s lifetime, they are considered to be from the giver’s personal property;

2) Without a will, after the giver’s lifetime, they are considered to be part of the bequest;

3) In a will, they are considered to be part of the bequest; and

4) With or without a will, if they are given under circumstances that ultimately lead to the testator’s death (e.g. illness, war, travel, etc.), they are considered bequests.

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