Wording for Gifts in Your Will
An excellent way for you to support Nebraska Community Foundation's mission is to leave a gift in your will, living trust or with a codicil. Beyond leaving a lasting legacy, making a gift by bequest allows you to continue to use the assets you will leave to charity during your life.
There are a number of ways you can make a gift in your will.
In order to make a gift in your will or trust, you should speak with your professional advisor. Your professional advisor can help you include a bequest to Nebraska Community Foundation in your estate plan. We have provided some basic bequest language to assist you and your professional advisor as well as our Tax ID # which is 47-0769903.
Unrestricted gifts may be expended at the discretion of the Fund Advisory Committee of an NCF affiliated fund to meet the charitable priorities of the community or charitable organization. Unrestricted gifts may be designated as follows:
Donors may designate their gift for a specific charitable interest area within an NCF affiliated fund as follows:
If there is an existing account for the purpose you wish to benefit -
Many financial institutions' beneficiary forms have limited space. If you are including your community as a beneficiary of a bank account, retirement account, or insurance policy and are unable to fit the above, here is a shorter alternative:
"____% to Nebraska Community Foundation."
After notifying us of your intentions, Nebraska Community Foundation will work with you to ensure your gift is directed to the appropriate affiliated fund.
Donors may designate gifts to support NCF's community development work by making an unrestricted gift or contributing to NCF's general permanent endowment fund.
An unrestricted gift may be designated as follows:
Donors wishing to establish a new affiliated fund with a planned gift are encouraged to contact Nebraska Community Foundation. NCF can provide illustrations of various gift plans and sample documents as needed without obligation and at no cost.
Note: The above information is of a general nature and is not intended as legal advice. It should not replace the counsel of your tax, legal or estate planning advisors.
If you are considering a gift in your will but would like to ensure that your gift will be used for a specific purpose, please let us know.
Please contact us if you have any questions about how to make a gift in your will or to request any additional information that might be helpful to you and your professional advisor as you consider making a gift in your will.
If you have included a gift for Nebraska Community Foundation or an affiliated fund in your will, please fill out the Notification of Planned Gift form and return it to us. We would like to thank you and recognize you for your gift.
Types of Gifts in Your Will
There are a number of ways you can make a gift in your will.
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate. For example, you may wish to leave 10% of your estate.
Residual Bequest. This gift is made from the balance of an estate after the will or trust has given away each of the specific gifts. A common residual bequest involves leaving a percentage of the residue of the estate. For example, you may wish to leave 30% of the residue of your estate to Nebraska Community Foundation or an affiliated fund.
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 Nebraska Community Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate. For example, you may wish to leave 10% of your estate.
Residual Bequest. This gift is made from the balance of an estate after the will or trust has given away each of the specific gifts. A common residual bequest involves leaving a percentage of the residue of the estate. For example, you may wish to leave 30% of the residue of your estate to Nebraska Community Foundation or an affiliated fund.
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 Nebraska Community Foundation.
We would be happy to work with you and your professional advisor to help you identify ways to give and meet your charitable objectives. We will also work with you and your professional advisor to craft language to accomplish your goals.
Benefits of a Gift in Your Will
A bequest is generally a revocable gift, which means it can be changed or modified at any time.
You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.
Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Wording for Gifts by Wills and Trusts
In order to make a gift in your will or trust, you should speak with your professional advisor. Your professional advisor can help you include a bequest to Nebraska Community Foundation in your estate plan. We have provided some basic bequest language to assist you and your professional advisor as well as our Tax ID # which is 47-0769903.
Following are examples of language for gifts by will, trust or beneficiary designation.
Unrestricted Gifts for an Existing Affiliated Fund
Unrestricted gifts may be expended at the discretion of the Fund Advisory Committee of an NCF affiliated fund to meet the charitable priorities of the community or charitable organization. Unrestricted gifts may be designated as follows:
"___% to Nebraska Community Foundation, for the benefit of the _________ affiliated fund."
Designated Gifts for an Existing Affiliated Fund
Donors may designate their gift for a specific charitable interest area within an NCF affiliated fund as follows:
If there is an existing account for the purpose you wish to benefit -
"___% to Nebraska Community Foundation, for the benefit of the (account name) within the __________affiliated fund."
If there is not an existing account for the charitable purpose you wish to benefit, please contact Nebraska Community Foundation.Many financial institutions' beneficiary forms have limited space. If you are including your community as a beneficiary of a bank account, retirement account, or insurance policy and are unable to fit the above, here is a shorter alternative:
"____% to Nebraska Community Foundation."
After notifying us of your intentions, Nebraska Community Foundation will work with you to ensure your gift is directed to the appropriate affiliated fund.
Gifts to Support the Nebraska Community Foundation
Donors may designate gifts to support NCF's community development work by making an unrestricted gift or contributing to NCF's general permanent endowment fund.
An unrestricted gift may be designated as follows:
"___% to Nebraska Community Foundation, unrestricted."
Gifts to the NCF permanent endowment fund may be designated as follows:
"___% to Nebraska Community Foundation for its permanent endowment fund."
Gifts to Establish a New Affiliated Fund
Donors wishing to establish a new affiliated fund with a planned gift are encouraged to contact Nebraska Community Foundation. NCF can provide illustrations of various gift plans and sample documents as needed without obligation and at no cost.
Note: The above information is of a general nature and is not intended as legal advice. It should not replace the counsel of your tax, legal or estate planning advisors.
Contact Us
If you are considering a gift in your will but would like to ensure that your gift will be used for a specific purpose, please let us know.
Please contact us if you have any questions about how to make a gift in your will or to request any additional information that might be helpful to you and your professional advisor as you consider making a gift in your will.
If you have included a gift for Nebraska Community Foundation or an affiliated fund in your will, please fill out the Notification of Planned Gift form and return it to us. We would like to thank you and recognize you for your gift.
