Tools For Giving Later
Bequests
What are they?
Often the easiest way to support one's charitable interests, a bequest permits your clients to support their community while retaining complete control over their assets during their lifetime. Bequests can be a specific dollar amount, a percentage of one's estate, or what remains after other bequests-such as those to family members-are satisfied.
Highlights:
- Through a bequest, your clients may arrange for their heirs to receive lifetime income from their estate, with the remainder going to the Community Foundation for charitable purposes.
- They may name a new fund or an existing fund of the Community Foundation.
- Your clients can give cash, appreciated stocks, or other assets.
- Some of the most tax-efficient assets types to give through one's will come from retirement plan accounts, since heirs would be taxed on the income in respect of the decedent.
- Bequests to the Community Foundation earn a full charitable deduction on estate taxes.
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