Your legacy is a testament to your life's work and values. At the Kirkland Community Foundation (KCF), we recognize the significance of this decision.
Planned Giving is often discussed with legal and financial professionals and represents a heartfelt commitment to support the future of your beloved causes. This forward-looking approach to philanthropy allows you to make a substantial impact on your favorite charities, including KCF, upon your passing.
Such a gesture isn't limited to the wealthy; anyone with a charitable spirit can leave a meaningful legacy. From a simple bequest in your will to sophisticated trusts, planned giving provides various avenues to support the causes dear to you.
As you contemplate your estate plan and philanthropic goals, consider the myriad of planned giving options available. Integrating a fund at KCF into your plans can not only enrich your legacy but also significantly benefit our community in Kirkland.
Bequests: This straightforward option lets you designate a specific amount or a percentage of your estate to KCF through your will or trust. We can provide you with the appropriate language to include in your documents, ensuring your wishes are clearly expressed.
Beneficiary Designations: Naming KCF as a beneficiary of your life insurance or retirement plans is a savvy move, especially with tax-deferred accounts like IRAs and 401(k)s. This method allows the full value of your gift to support our community projects without the burden of income taxes that would affect individual heirs.
Charitable Remainder Trusts: For those with highly appreciated assets, a charitable remainder trust offers a way to donate to KCF while receiving an income stream during your lifetime. Upon your death or the end of the specified term, the remainder supports KCF, aligning with your philanthropic vision.
Planned Giving to the Kirkland Community Foundation is more than a financial strategy; it's a powerful statement of your values and a direct investment in the future of Kirkland. By including KCF in your planned giving, you're ensuring that the initiatives your care about, and that positively impact our community, continue to thrive, demonstrating your values and support to future generations.
We invite you to join the ranks of visionary donors who see beyond their lifetimes. Together, we can create a lasting legacy that celebrates your commitment to enriching our community and ensuring Kirkland remains a healthy, vibrant, inclusive and sustainable community for generations to come.
For more information on how to begin this journey with KCF, please reach out to us. Your legacy is our future, and every contribution, big or small, paves the way for a brighter tomorrow for the Kirkland community.
To include a gift to a KCF fund in your estate plan, please consult your attorney about how best to implement your intentions in your will, a codicil to your will, or in your revocable living trust. Depending on the type of bequest you decide upon, the following suggested language is designed to help you make a bequest to KCF. More extensive bequest language may be specifically tailored to your needs by your attorney in consultation with KCF.
1. Specific: This involves specific gifts to KCF, such as a fixed amount of money, a certain piece of property, or shares of a publicly traded corporation.
I give, devise and bequeath [identify here a specific sum of money or a specific asset] to Kirkland Community Foundation, Washington (Tax ID # 46-4931717) to be used in such a manner as the Board of Trustees thereof shall direct.
2. Residuary: Residuary gifts take effect after specific bequests to your loved ones are made and the costs and other obligations of your estate are paid. They are gifts from the remainder of your estate.
I give, devise and bequeath all [or a portion — for example, 25 percent (25%)] of the rest, residue and remainder of my estate to Kirkland Community Foundation, Washington (Tax ID # 46-4931717) to be used in such a manner as the Board of Trustees thereof shall direct.
3. Contingent: This gift is typically made only the event that certain beneficiaries of your estate do not survive you or an organization you provided for is no longer in existence.
In the event that [insert name of primary beneficiary] shall not survive me, or shall die ninety (90) days from the date of my death, then I give, devise and bequeath [identify here a specific sum of money, a specific asset or the portion of the residual estate that would have been given to the primary beneficiary] to Kirkland Community Foundation, Washington (Tax ID # 46-4931717) to be used in such a manner as the Board of Trustees thereof shall direct.
Or:
In the event that [insert name of nonprofit organization primary beneficiary] is no longer in existence at my death, then I give, devise and bequeath [identify here a specific sum of money, a specific asset or the portion of the residual estate that would have been given to the nonprofit primary beneficiary] to Kirkland Community Foundation, Washington (Tax ID # 46-4931717) to be used in such a manner as the Board of Trustees of said Foundation thereof shall direct.
4. Restricted: This refers to bequests to KCF that are restricted to specific funds.
I give, devise and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to Kirkland Community Foundation, Washington (Tax ID # 46-4931717) specifically for [name of donor-advised, donor-designated, named community, area-of-interest, scholarship or endowment fund].
If it is determined by the Board of Trustees of Kirkland Community Foundation that all or part of the gift is no longer needed, or for any reason cannot be used for the stated purpose, then such portion of the gift may be used for other related purposes, which the Board of Trustees deems to be in the best interests of Kirkland Community Foundation giving consideration to the original purposes described above.
Please contact us to discuss the legacy gift that best suits your goals and circumstances.
KCF is a 501(c)(3) non-profit.
EIN 46-4931717
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