Bequest By Will
A legacy of
giving.
Including a
charitable bequest in your will is a simple way to make a
lasting gift to your community. When you make this gift through
your community foundation, we establish a special fund that
benefits the community forever and becomes your personal legacy
of giving.
Making a bequest to
your community foundation is an easy way to transfer assets to
charity. And, you can decide to do it at any age by adding to an
existing will or drafting a new one. In doing so you leave a
legacy to your community, while enjoying the assets you need to
maintain your current lifestyle. Plus, you are able to
distribute some or all of your assets, tax free.
You can give cash,
appreciated stocks, or other assets. Some of the most
tax-efficient asset types to give through your estate plan come
from retirement plan accounts, since heirs would be taxed on the
income in respect of the decedent (IRD). Through your will, you
can choose to give a stated dollar amount, a specific property,
a percentage of your estate, the remainder after distributions
to other beneficiaries, or you can make your gift contingent on
certain events.
How it works:
-
You include the
community foundation in your will as a bequest; we can help
you or your attorney with recommended language.
-
You determine
the type of fund you would
like to establish with your gift.
-
Upon your death,
we set up a special fund in your name, in the name of your
family, or in honor of any person or organization you
choose.
-
Your charitable
gift is excluded from your assets for estate tax purposes.
-
Our professional
program staff considers your charitable wishes and
determines the areas of community need that would be most
impacted by grants from your gift.
-
Our board issues
grants in the name of the fund you establish (if you prefer,
grants can be made anonymously).
-
We handle all
the administrative details.
-
Your gift can be
placed into an endowment that is invested over time.
Earnings from your fund are used to make grants addressing
community needs. Your gift—and all future earnings from your
gift—is a permanent source of community capital, helping to
do good work forever.
