Your Will

Including charitable gifts in your will is a powerful way to leave your legacy and, with the Community Foundation, those gifts can be managed and followed over time to assure that your desires for use, impact and attribution are followed. Working with your estate planner, accountant and legal advisors, the Foundation can add perspective on community needs, benefits and lasting impact and follow through in final execution of the charitable portion of your will.

The Community Foundation can serve as the central vehicle for the execution of your final charitable wishes. You can execute your Will and include an allocation to the Foundation. And then with, a separate, sealed Letter of Instructions on file with the Foundation, you can direct the eventual distribution of those testamentary gifts. Since that request can be updated at any time during your life, you are freed from the burden and cost of updating your Will if and when your charitable desires change. And, because the Community Foundation will continue in-perpetuity, your final wishes can continue to be managed over time to insure maximum impact and appropriate attribution.

Charitable Gifting from your Will

  • Name the Community Foundation as a beneficiary specifying an amount, a percentage or a residual after other allocations.
  • Specify in your Will a target Community Foundation Fund(s) to which the gifts will apply. Often this might include your existing Donor Advised Fund, a Designated Fund, a Scholarship Fund or broad giving to the Foundation’s Healthy Community Fund.
  • You may ask the Foundation to create a specified Fund if it does not already exist by including an executed Foundation Fund Creation form attached to your Will.
  • Execute a sealed Letter of Instruction to the Foundation detailing your wishes for the use of funds.
  • Update your Letter of Instruction at any time without cost and without changing your Will.

Sample Language for Your Will (pdf)
Sample Foundation Letter of Instruction for Distribution of Proceeds (pdf)

Testamentary Gifts to Community Foundation Funds

You may direct your Testamentary Gift to an existing Foundation Fund or you may create a new fund from your will.

Promote This Post

http://sjicf.org/wp-content/themes/platform