Gifts in Your Will
A gift in your will is one of the easiest and most flexible ways that you can leave a gift to Nebraska Community Foundation or an affiliated fund that will make a lasting impact.
Benefits of a gift in your will
- Leave a lasting legacy with your gift
- Continue to use your assets as long as you need to
- Reduce the burden of taxes on your family
How a gift in your will works
A gift in your will is one of the easiest gifts to make. With the help of your professional advisor, you can include language in your will or trust specifying a gift to be made to family, friends, Nebraska Community Foundation or an affiliated fund as part of your estate plan, or you can make a gift in your will using a beneficiary designation form.
Here are some of the ways to leave a gift in your will to Nebraska Community Foundation
- Include a gift Nebraska Community Foundation in your will or revocable trust
- Designate Nebraska Community Foundation or an affiliated fund as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name Nebraska Community Foundation or an affiliated fund as a beneficiary of your life insurance policy
A gift in your will may be made in several ways
- Percentage - make a gift of a percentage of your estate
- Specific - make a gift of a specific dollar amount or a specific asset
- Residual - make a gift from the balance or residue of your estate
If you have any questions about leaving a gift in your will, please contact us. We would be happy to assist you. If you have been so generous as to include a gift in your will to Nebraska Community Foundation or an affiliated fund as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity.
The method used to make a gift in your will depends on the kind of gift you choose to leave to Nebraska Community Foundation.
Gifts of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the gift in your will.
Other gifts, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete your gift, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.
The last step in leaving any gift in your will involves the transfer to charity. When you pass away, the gifted property will be transferred to Nebraska Community Foundation. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.