Leaving A Bequest Through Berks County Community Foundation

Donors can continue their charitable legacies for years to come by including a gift in their wills to support a cause or organization that is important to them. This type of gift, known as a charitable bequest, is the most common form of planned giving, allowing donors to live on through the good work done by their gift, and providing important estate tax advantages.

A donor may donate a specific item (such as a home) or a specific amount of money for some charitable purpose. This is known as a "specific bequest." A "residual bequest" refers to a gift that consists of the remainder of a donor's assets after all expenses and other specific bequests have been paid out.

By including a charitable contribution in a will, a donor can make a gift that is simple, yet potentially much larger than he or she could consider during a lifetime.

How to Add a Charitable Bequest to a Will

Adding a charitable bequest to an existing will does not require rewriting your entire will. Charitable bequests may be added through an amendment to an existing will, known as a "codicil."

Donors may include or add this language to their will at any time, although it is generally easier to discuss charitable objectives with the Community Foundation ahead of time. If a donor prefers to remain anonymous, he or she may conduct these discussions through an attorney, accountant or other advisor.

Leaving a Gift to an Existing Fund

Use the following language in your will to contribute to an established fund at Berks County Community Foundation:

"I give ___________________________ (description of gift) to Berks County Community Foundation, its successors or
assigns, to the______________________ (name of Fund) consistent with the 'Fund Agreement' previously established at the Community Foundation."

Creating a New Fund

To establish a testamentary fund at the Community Foundation, you may pre-sign a fund agreement expressing your desire for the use of your gift. Two signed agreements should be forwarded to the Community Foundation. One fully executed copy will be returned and the other kept in our file and activated when funds are received.

Using this approach, the suggested language to be used in a will is:

"I give ___________________________ (description of gift) to Berks County Community Foundation, its successors or assigns, to create the ________________ (name of Fund) consistent with the 'Fund Agreement' previously executed between myself and the Community Foundation."

Leaving a Gift to the Community

Some donors prefer to have the Community Foundation's board of directors determine how best their gift can remain flexible and responsive to community needs over time. These grants, generated from undesignated funds, are used to meet the emerging needs of the people of Berks County.

In this situation, the suggested language to be used in a will is:

"I give _________________________ (description of gift) to Berks County Community Foundation, its successors or assigns, to be added to the Fund for Berks County."

updated Monday, December 16, 2002