Sample Language for Wills and Trusts

Bequests are the most frequent type of planned gift made to charity. The estate receives a charitable deduction for the full amount given, so heirs pay no estate tax on the gift.

To assist you in including a gift to the Foundation in a will or trust, sample language is provided below.

Sample Language for an Unrestricted Charitable Bequest

The following four types of bequests direct a gift to the Heartland Community Foundation. This language is  all that is needed for unrestricted gifts to the Foundation. Unrestricted gifts allow for the greatest  flexibility in serving the needs of the community, as community needs are  always changing.

• Percentage: “I give, devise and bequeath to the Heartland Community Foundation, an affiliate of the Greater Salina Community Foundation, a nonprofit corporation of the State of Kansas, ____% of my estate.”

• Specific: “I give, devise and bequeath to the Heartland Community Foundation, an affiliate of the Greater Salina Community Foundation, a nonprofit corporation of the State of Kansas, 1) The sum of $___________.” 2) __________ shares of stock in ________________Company.”, 3) my real property commonly known as _________________.”

• Residual: ” I give, devise and bequeath to the Heartland Community Foundation, an affiliate of the Greater Salina Community Foundation,  a nonprofit corporation of the State of Kansas, all the residue of my estate, including real personal property.”

• Contingent: “In the event of the death of any of the beneficiaries, I give, devise and bequeath to the Heartland Community Foundation, an affiliate of the Greater Salina Community Foundation, a nonprofit corporation of the State of Kansas, (percentage, specific, or residual language as  above).”

Sample Language for Charitable Bequest to an Existing Fund

A bequest may also benefit one or more existing funds, using the language above, but by adding: “to be added to the (name of fund or  funds).”  If more than one fund is included, the language might include a breakdown of the percentage to allocate to each fund.

To see our current funds, scroll through the different fund types on the home page slider.

Sample Language for Charitable Bequest to Create a New Fund

A bequest may also set up a new named fund, using language outlined below. To ensure that the donor’s intent is followed, the Foundation recommends that requests include a notation in the will or trust, as well as a completed fund agreement with specifics about the fund the donor wishes to establish. Fund agreements for each or the following funds are available by contacting the Foundation office. By including the specifics of the fund in a separate agreement, donors have the benefit of changing the details of the fund without redrafting the will or trust document.

• Donor Advised Fund:
“to establish the (choose name)  Donor Advised fund, per a fund agreement on file.”

• Scholarship Fund:
“to establish the (choose name)  scholarship fund, per a fund agreement on file.”

• Field of Interest Fund:
“to establish the (choose name) fund per a fund agreement on file.”

• Designated Funds:
(to provide support to a specific organization or organizations) “to  establish the (choose name) designated fund, per a fund agreement on file.”

Descriptions of these funds can be found on our home page by clicking through the sliders.

We are happy to assist you with the creation of a fund  agreement. Simply call us at 785-621-4090 or contact our Affiliate Coordinator, Katy Kitchen at 785-823-1800 at the Greater Salina Community Foundation.

 

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