Planned Giving Tip of Week: Bequest in your Will or Trust


Another March Madness is in the books. While the college basketball season may be over, CFO’s frenzied full court press for planned giving rolls on, and it’s not too late for you to be a champion for your community by making a planned gift.

The Foundation’s board of directors has challenged the organization to enlist at least one new Legacy Society member from each affiliate and 20 new members from metropolitan Springfield during this fiscal year. This marks our final weekly tip on how to make a simple planned giving commitment, but each tip and a wide range of additional planned giving resources are available on our web site at www.cfozarks.org or simply by giving us a call at (417) 864-6199. These commitments are important; they truly will make a difference down the road and they encourage others to think about giving back to the places we call home. This week tip is:

A Specific Bequest in your Will or Trust

Making provisions in your Last Will and Testament or Revocable Trust Agreement for either a specific dollar amount or percentage of your estate to pass to a charitable organization at your death (or the death of the survivor of you and your spouse) is one of the most effective and obvious methods of making a planned charitable gift.

It is also relatively simple to designate the purpose for which your charitable gift is made (e.g., create an endowment or scholarship fund or use for a particular program or field of interest). Individuals with minor children, who might otherwise be reluctant to divert a portion of their estate away from their children, can accomplish both their family and charitable objectives by delaying the distribution to charity, directing that their estate be held in trust for the benefit of their children until the children attain a particular age (e.g. 25 years of age), and then directing that a portion of what remains be distributed to charity and the remainder to their children.

The Community Foundation of Southwest Missouri, Inc., CFO’s largest affiliate, recently announced the addition of a new Legacy Fund. The Dorthadean Moorman Memorial Fund was established by a bequest from Ms. Moorman. The fund will directly benefit Crosslines of Carthage and the College Heights Christian Church. Read more about this most recent example of planned giving here.

View past Planned Giving Tips here.

Please remember that the Community Foundation of the Ozarks staff stands ready to assist you in this effort. A major part of our website (www.cfozarks.org) is dedicated to planned giving, and we have a simple form that signifies your charitable planned giving commitment. In these challenging economic times, this is something that all of us can do to support the community foundation movement. Please contact Gary Funk or Winter Skelton at (417) 864-6199 if you would like to discuss this planned giving option.

As always, thanks for all that you do for the Ozarks!

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