the Community Foundation of Central Georgia's Bequest Language
Types of Bequests
There are a number of ways you can make a bequest to the Community Foundation of Central Georgia.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to a fund at the Community Foundation of Central Georgia.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to a fund at the Community Foundation of Central Georgia.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to the Community Foundation of Central Georgia.
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to the Community Foundation of Central Georgia in your estate plan. We have provided some basic bequest language to assist you and your attorney.
To Give to an Existing Fund through a Bequest
"I give the following gift ___________________ [A specific dollar amount or a percentage of my estate] to the ________________ [Fund Name] of the Community Foundation of Central Georgia, Inc. a 501(c)(3) tax exempt nonprofit organization (Tax ID 58-2053465)."
To Create a Fund through a Bequest
It is my desire that the Fund established with this bequest shall be named the _____________________________________ Fund, and shall be recognized as such in all correspondence, reports and materials related to the Fund.
A spendable portion of the fund shall be advised by the following individuals:
[Insert the names and contact information of the people that you would like to advise your fund.]
A spendable portion of the fund shall be distributed annually to charitable organizations to fulfill the following charitable purpose of the fund:
[Insert Charitable Purpose: For example, is it to benefit the citizens of a particular place, such as a specific county, or is it to be used to support one or more specific nonprofit organizations, or is it to support a specific charitable purpose, such as disadvantaged children, or is it to be used for scholarships to help deserving student pursue higher education. If the fund is to support more than one organization, please indicate the percentage of the spending calculation that should be awarded to each organization listed.]
Please contact us if you have any questions about how to make a bequest to the Community Foundation of Central Georgia or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.
If you have included a bequest for the Community Foundation of Central Georgia in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.