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The Catholic Community Foundation of Santa Clara County's Bequest Language

An excellent way for you to support your parish or another Catholic ministry through The Catholic Community Foundation of Santa Clara County's mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

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.

 

Types of Bequests


There are a number of ways you can make a bequest through The Catholic Community Foundation of Santa Clara County.
 
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 a fund at The Catholic Community Foundation of Santa Clara County.

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 a fund at The Catholic Community Foundation of Santa Clara County.

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 a fund at The Catholic Community Foundation of Santa Clara County.

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 Community Foundation of Santa Clara County.

 

Sample Bequest Language


Your attorney can help you include a bequest to The Catholic Community Foundation of Santa Clara County in your estate plan. We have provided some basic bequest language to assist you and your attorney. Select one of the descriptions of assets from Section 1 and one disposition from Section 2. 
 

Section 1

Description of assets to be given to the Foundation:

Bequest of a Specific Dollar Amount
I/we hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to The Catholic Community Foundation of Santa Clara County, a nonprofit organization located at 777 N. First St. Suite 490, San Jose, CA, 95112, Federal Tax ID #83-0400149

Bequest of Specific Personal Property
I/we hereby give, devise and bequeath DESCRIPTION OF PROPERTY to The Catholic Community Foundation of Santa Clara County, a nonprofit organization located at 777 N. First St. Suite 490, San Jose, CA, 95112, Federal Tax ID #83-0400149

Bequest of Specific Real Estate
I/we 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 Catholic Community Foundation of Santa Clara County, a nonprofit organization located at 777 N. First St. Suite 490, San Jose, CA, 95112, Federal Tax ID #83-0400149

Bequest of a percentage of the total estate
I/we hereby give, devise and bequeath ____ percent (___%) of my/our total estate, determined as of the date of my death, to The Catholic Community Foundation of Santa Clara County, a nonprofit organization located at 777 N. First St. Suite 490, San Jose, CA, 95112, Federal Tax ID #83-0400149

Bequest of a percentage of the residue and remainder of the estate
I/we hereby give, devise and bequeath ____ percent (___%) of  the rest, residue and remainder of my/our estate, determined as of the date of my death, to The Catholic Community Foundation of Santa Clara County, a nonprofit organization located at 777 N. First St. Suite 490, San Jose, CA, 95112, Federal Tax ID #83-0400149

 

Section 2

Disposition (purpose) of the gift:

Our gift will be administered by the Foundation as follows:

Bequest to general purposes of the Foundation
My/our gift(s) will be for the general use and purpose of the Catholic Community Foundation.

Bequest to an already established fund
My/our gift(s) will be added to the _____________________________________fund, a component fund of the Catholic Community Foundation of Santa Clara County, of which distribution and spending policies are already provided. If, in the judgment of the Board of Directors of the Catholic Community Foundation it is impossible to administer this bequest because either the designated beneficiary ceases to exist or performs in a manner not in keeping with Catholic Social teaching, the distribution from this endowment must be used in the best manner to support the spirit of this gift.

Bequest to a newly established fund (please contact the Foundation ahead of time)
My/our gift(s) will be used to create the _________________________________fund, a component fund of the Catholic Community Foundation of Santa Clara County.
The purpose of this fund is to _____________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
If, in the judgment of the Board of Directors of the Catholic Community Foundation it is impossible to administer this bequest because either the designated beneficiary ceases to exist or performs in a manner not in keeping with Catholic Social teaching, the distribution from this endowment must be used in the best manner to support the spirit of this gift.

Please contact the Foundation ahead of time, as we reserve the right to be unable to administer some funds, or may have minimum gift requirements for new funds.

 

Contact Us


Please contact us if you have any questions about how to make a bequest to The Catholic Community Foundation of Santa Clara County or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

If you have included a bequest for The Catholic Community Foundation of Santa Clara County in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
408.995.5219    |    info@cfoscc.org
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