MAKING A GIFT THROUGH YOUR WILL

 

MAKING A GIFT THROUGH YOUR ESTATE

The Renton Community Foundation is here for the long-term and relies on donors who share our dream for a grand future for the Puget Sound Area. Fortunately, there are almost as many ways a donor can give as there are needs to be met. In this section, we will outline a variety of ways you can benefit your community while taking into consideration your own personal ife situation and that of your heirs. Making a planned gift also offers you the opportunity to be recognized by joining a select group of people who belong to the Community Leadership Society.

HOW TO MAKE A PLANNED GIFT

Planned gifts are made as part of a donor's overall estate planning and typicall utilize the skills of the donor's own legal and/or tax advisors. Planned gifts take into account the benefit to the charity as well as the financial implication to the donor and the donor's family. They can include cash, publicly traded securities, real estate, other personal property, or life insurance. This type of thoughtful giving can be accomplished through a variety of charitable gift vehicles, including those that offer an income stream to the donor.

TOOLS FOR GIFT PLANNING

Making a gift through your will is a popular and simple way to support your community and/or the causes you care about.  A gift through your will offers significant tax advantages and can leave a lasting legacy for you and/or your family.

 

When including the Renton Community Foundation in your will, you may focus your gift toward a general area of interest, designate a specific cause, charity, or fund, or leave it unrestricted so the Foundation board may apply it to the area of greatest need. If the gift is $10,000 or more, you may request the Foundation to establish a fund in your name to benefit the cause(s) you select. You may also specify the gift is treated as an endowment ($100,000 or more) so that the principal gift is maintained for the future and only earnings are disbursed to meet community needs.

 

Establishing a Named Fund through Your Will

 

If you wish to establish a fund (minimum $10,000 gift) through your will to address particular charitable needs, we recommend you contact the Foundation office to discuss your wishes and fill out a Fund Agreement to document your future preferences. We have included sample bequest language on the website, but it's always good to express your goals in order to get the most up-to-date information.

For instance, you may establish an Area of Interest Fund if you have a passion for a particular cause such as the arts or healthcare. You may wish to designate the fund to a very specific organization. You may wish to create a scholarship fund to help individuals pursue post-secondary education. Or you may prefer to leave your fund for 'the general benefit of the community' so that grants can meet current and emerging needs. If you so choose, you can remain involved with your fund by creating what we call a donor-advised fund. In this way, you can recommend to the board when and where grants are made.

 

 

Please contact RCF for more information about wills or other forms of planned gifts at (425) 282-5199 or email us at lbohart@rentonfoundation.og.