Make a Gift Through Your Will

 

Give to the College Success Foundation without affecting your cashflow during your lifetime. 

Charitable Bequests Through Your Will

A charitable bequest is  a distribution from your estate to a charity through your last will and testament. There are several types of bequests, and for each, you must use specific language to indicate the precise direction of your assets and to successfully carry out your final wishes. In any charitable bequest, you'll want to be sure you name the recipient accurately. 

Suggested Language

Below are suggested clauses; more extensive suggested language may be tailored to your needs by your attorney in consultation with the College Success Foundation. 

1. Specific

I give, devise and bequeath [identify a specific sum of money or a specific asset] to the College Success Foundation, 15500 SE 30th Pl, #200 Bellevue, WA 98007, to be used for the benefit of the College Success Foundation, in such a manner as the Board of Directors thereof may direct.

2. Residuary

I give, devise and bequeath all [or a portion – for example, fifty percent (50%)] of the rest, residue and remainder of my estate to  the College Success Foundation, to be used for the benefit of  the College Success Foundation, in such a manner as the Board of Directors thereof may direct.

3. Contingent

In the event that [insert name of primary beneficiary] shall not survive me, or shall die ninety (90) days from the date of my death, then I give, devise and bequeath [identify here a specific sum of money, a specific asset or the portion of the residual estate that would have been given to the primary beneficiary] to the College Success Foundation, to be used for the benefit of the College Success Foundation, in such a manner as the Board of Directors thereof may direct.

4. Restricted

I give, devise and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to the College Success Foundation, to be used for the benefit of  the College Success Foundation, specifically for [describe the primary purpose, such as general purposes of the foundation, program or scholarship support].

Use general language so that the restriction is not so limited as to prevent the College Success Foundation from applying the money in the most efficient way. If it is determined by the Board of Directors of the College Success Foundation that all or part of the gift is no longer needed, or for any reason cannot be used for the stated purpose, then such portion of the gift may be used for other related purposes, which the Board of Directors deems to be in the best interests of the College Success Foundation, giving consideration to the original purposes described above.

Many friends of the College Success Foundation wish to support special programs or needs of CSF. In this case, your will or trust should clearly state the intended purpose.

5. Endowment


Endowments provide excellent opportunities for leaving a legacy and often provide naming opportunities to honor or memorialize individuals, organizations, or corporations. As only a small percentage of an endowment’s investment earnings is utilized for expenditures, endowments make resources available perpetually, maintaining an important financial stability for the CSF while also granting a lasting impact to an area of interest for our donors. An endowment can also be established in a will or living trust. An endowment is a separately managed, restricted fund that is usually named for the donor and is created with a bequest of $100,000 or more.

Suggested endowment language: I give, devise and bequeath to College Success Foundation, to benefit College Success Foundation, [insert here the sum, percentage, or description of property] to be held as a permanent endowment to be known as "The [insert name] Endowed Fund" to be used for the following purpose(s):

[Description of purpose(s)]

If it is determined by the Board of Directors of the College Success Foundation that all or part of the distributions (as defined by the endowment distribution policy established by the Board of Directors and amended from time to time) from the fund are no longer needed for the purpose(s) stated, then distributions may be used for other purposes which the Board of Directors deems to be in the best interest of the College Success Foundation, giving consideration to the original purpose(s) described above.

Beneficiary Designation

When naming the College Success Foundation as a beneficiary of your retirement plan, IRA, life insurance, securities/brokerage account (transfer on death account) or bank account (payable on death account), we recommend the following information on your beneficiary designation form:
College Success Foundation.

Please note: This is not professional tax or legal advice. Please consult with a tax, financial or legal advisor. 

 

 
 

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