Bequests By Will

Including a charitable bequest in your will is a simple way to make a lasting gift to your community. By making your bequest through The Community Foundation, the community benefits forever and becomes your personal legacy.

Frank V. Oliver, Jr., a pillar of Putnam County, wanted to ensure that the organizations that he believed in so strongly during his lifetime, continued to be beneficiaries after his death. This Palatka businessman established endowments at The Community Foundation that will help meet the needs of six Putnam County charities—everything from Rodeheaver Boys Ranch to Putnam County Bread of Life. He also established a Field of Interest Fund.

When you include The Community Foundation in your will, we will establish a special legacy fund in your name. In doing so you leave a permanent bequest to your community, while enjoying the assets you need to maintain your current lifestyle. Plus, you are able to distribute some or all of your assets, tax free.

You can give cash, appreciated stocks, or other assets. Some of the most tax-efficient asset types to give through your will come from retirement plan accounts, since heirs would be taxed on the income in respect of the descendent (IRD). You can choose to give a stated dollar amount, a specific property, a percentage of your estate, the remainder after distributions to other beneficiaries, or you can make your gift contingent on certain events. You can decide to do it at any age by adding to an existing will or drafting a new one.

We are happy to work with you and your financial and legal advisors to determine the most advantageous structure for your planned gift. Call us today and we can get started on your planned gift.

The purpose of this website is to provide general gift, estate, and financial planning information. The Community Foundation for Northeast Florida is not engaged in providing legal or tax counsel. For advice or assistance in specific cases or whether to make certain a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.