Called a charitable bequest, this type of gift offers these main benefits:
- Simplicity.Just a few sentences in your client’s will or trust are all that are needed. I give to the Eau Claire Community Foundation (dollar amount or percentage) of my estate (or all the residue of my estate) for (general charitable purposes or specified purposes or charities). The Fund shall be governed by the Foundation’s governing documents, and all amendments and policies adopted by the Board of Trustees.
- Flexibility.Because the gift is not made until after your client’s death, your client can change his or her mind at any time.
- Versatility.Your client can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of his or her estate to ECCF.
- Tax Relief.If a client’s estate is subject to estate tax, a gift to ECCF is entitled to an estate tax charitable deduction for the gift’s full value.
How It Works
Putting Your Family First
When planning a future gift, it’s sometimes difficult to determine what size donation will make sense. Emergencies happen, and clients want to make sure their family is financially taken care of first. Including a bequest of a percentage of the estate ensures that the gift will remain proportionate no matter how the estate’s value fluctuates over the years.