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Co:Mission Foundation's Bequest Language

You can support your favorite charities through your Co:Mission Giving Fund by making a bequest in your will or living trust. When you make a gift by bequest, you can continue to use the property during your lifetime, while making certain your gift will be completed when you no longer have need of the asset.  In doing so, you leave a lasting legacy.
 

Types of Bequests


There are a number of ways you can make a bequest benefitting your favorite charities.
 
Specific Bequest. You can make a gift of a specific asset such as real estate, a car, or other property.  Or, you can make a gift of a specific dollar amount. For example, you may wish to leave your home or $10,000 to your Co:Mission Giving Fund.

Percentage Bequest. You can also make a gift of a percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to your Co:Mission Giving Fund.

Residual Bequest. A residual bequest is made from the balance of the estate after the will or trust has granted each specific bequest. 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 your Co:Mission Giving Fund.

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 your Co:Mission Giving Fund.
 

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


In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to your Co:Mission Giving Fund in your estate documents. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to Co:Mission Foundation, we recommend the following language:
 
Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, designated to my Co:Mission Giving Fund.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, designated to my Co:Mission Giving Fund.

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 Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, designated to my Co:Mission Giving Fund.
 
2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Co:Mission 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 Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, designated to my Co:Mission Giving Fund.
 
3. Residual Bequest
 
I hereby give, devise and bequeath to Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate designated to my Co:Mission Giving Fund.
 
4. Contingent Bequest
 
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Co:Mission Foundation, a nonprofit organization located at 2050 Main Street, Irvine, CA, 92614, Federal Tax ID #27-4745598, DESCRIPTION OF PROPERTY designated to my Co:Mission Giving Fund.
 

Restricted Bequests


If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give Co:Mission Foundation flexibility should it no longer be possible for Co:Mission Foundation to use your gift as you originally intended:
 
If, in the judgment of the Board of Directors of Co:Mission Foundation, it shall become impossible for Co:Mission Foundation to use this bequest to accomplish the specific purposes of this bequest, Co:Mission 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 any questions about how to make a bequest to your Co:Mission Giving Fund or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to benefit your favorite charities.

If you have included a bequest to your Co:Mission Giving Fund in your estate plan, please contact us to let us know. We would like to thank you and recognize you for your gift.
 
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