Bequest Language
You can make a lasting impact on your parish, school, or favorite ministry by leaving The Catholic Foundation a bequest in your will, living trust, or with a codicil. In addition to leaving your legacy, a significant
benefit of making a gift by bequest is that it allows you to continue to use the asset you will leave to the charity during your life.
There are a number of ways you can make a bequest to The Catholic Foundation.
Below is language to help assist you and your attorney when you include a bequest to The Catholic Foundation in your estate plan
1. Specific Bequest
If you are considering making an outright bequest to The Catholic Foundation, we recommend the following language:
If you are considering making a bequest of a percentage of your estate to The Catholic Foundation, we recommend the following language:
Please let us know if you are considering a bequest that will be used for a specific purpose. The Catholic Foundation will work with you and your attorney to craft language to meet your charitable objectives.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give The Catholic Foundation flexibility should it no longer be possible for The Catholic Foundation to use your gift as you originally intended:
Please contact us if you have questions about how to make a bequest to The Catholic Foundation or need additional information. Please let us know if you have been so generous as to include a bequest to The Catholic Foundation as part of your estate plan.
Types of Bequests
There are a number of ways you can make a bequest to The Catholic Foundation.
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 to The Catholic Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to The Catholic Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to The Catholic Foundation.
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 The Catholic Foundation.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to The Catholic Foundation.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to The Catholic Foundation.
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 The Catholic Foundation.
Bequest Benefits
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.
Bequest Language
Below is language to help assist you and your attorney when you include a bequest to The Catholic Foundation in your estate plan
1. Specific Bequest
If you are considering making an outright bequest to The Catholic Foundation, we recommend the following language:
Bequest of a Specific Dollar Amount
I hereby give, devise, and bequeath _________ ($DOLLARS) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #____________, for The Catholic Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise, and bequeath _________ (DESCRIPTION OF PROPERTY) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #_______________, for The Catholic Foundation's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at _________ (ADDRESS OR DESCRIPTION OF PROPERTY) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #_______________, for The Catholic Foundation's general use and purpose.
2. Percentage BequestI hereby give, devise, and bequeath _________ ($DOLLARS) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #____________, for The Catholic Foundation's general use and purpose.
Bequest of Specific Personal Property
I hereby give, devise, and bequeath _________ (DESCRIPTION OF PROPERTY) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #_______________, for The Catholic Foundation's general use and purpose.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at _________ (ADDRESS OR DESCRIPTION OF PROPERTY) to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #_______________, for The Catholic Foundation's general use and purpose.
If you are considering making a bequest of a percentage of your estate to The Catholic Foundation, we recommend the following language:
I hereby give, devise and bequeath _________ (PERCENT) of my total estate, determined as of the date of my death, to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID #______________________, for The Catholic Foundation's general use and purpose.
3. Residual Bequest
Federal Tax ID# 31-1116640, _________ (ALL OR A PERCENTAGE) of the rest, residue, and remainder of my estate to be used for _________ (GENERAL PURPOSE/FUND NAME) by The Catholic Foundation.
4. Contingent Bequest
If _________ (PRIMARY BENEFICIARY NAME) does not survive me, then I hereby give, devise and bequeath to the Foundation of the Diocese of Columbus (dba The Catholic Foundation), a nonprofit organization located at 257 East Broad St., Columbus, OH, 43215-3703, Federal Tax ID # _________, DESCRIPTION OF PROPERTY to be used for The Catholic Foundation's general use and purpose.
Restricted Bequests
Please let us know if you are considering a bequest that will be used for a specific purpose. The Catholic Foundation will work with you and your attorney to craft language to meet your charitable objectives.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give The Catholic Foundation flexibility should it no longer be possible for The Catholic Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Directors of the Foundation of the Diocese of Columbus (dba The Catholic Foundation), it shall become impossible for The Catholic Foundation to use this bequest to accomplish the specific purposes of this bequest, The Catholic Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Contact Us
Please contact us if you have questions about how to make a bequest to The Catholic Foundation or need additional information. Please let us know if you have been so generous as to include a bequest to The Catholic Foundation as part of your estate plan.