A bequest, the most common planned gift, is a gift of assets (money and/or other property) that is made through a will, living trust, or other testamentary arrangement. No funds are transferred to the designated charity until after your passing, and the value of a bequest is generally exempt from your taxable estate.
How a Bequest Works
01 Work with Your Attorney
Work with your estate planning attorney to plan the structure of your gift.
02 Add Language to Your Will
Your attorney can then add bequest language to your will.
Sample Bequest Language
The following is suggested bequest language attorneys may use in preparation of a will benefiting the Catholic Community Foundation:
I/we the undersigned, give (a percent or a dollar amount) of my/our estate to:
Catholic Community Foundation of Minnesota
Court West Suite 500
2610 University Avenue West
Saint Paul, MN 55114
Tax I.D. #41-1744184
Language similar to the following also may be added:
This bequest is to be used to create a new permanent endowment to benefit (Insert name of your parish, school or other Catholic organizations or causes).
Or, if you wish to leave a bequest to be added to any existing permanent endowment at CCF, please contact us.
Retained Life Estate Gifts
It is possible to give away your home or other property to the Catholic Community Foundation (CCF) while retaining the right to use it for life.
- You may continue to live in your home
- No need to update your will
- Receive an immediate tax deduction
- Reduce the value of your taxable estate
- Receive recognition / acknowledgement for your gift now (if desired)
- Enjoy peace of mind knowing CCF will faithfully honor your intentions