Sample Testamentary Language
If your client is considering a charitable bequest, the following may be helpful in completing their estate planning documents or may also be adapted to name a fund beneficiary of an IRA or other retirement plan, life insurance, or annuity policy or similar assets. The suggested language is provided to assist clients and their attorneys in making gifts to various fund types at the Community Foundation.
Tax Id Number for the St. Louis Community Foundation, Inc.: 43-1758789
The Community Support Fund
”I give and bequeath the sum of $______/ the following described property_______(description of assets given) to the St. Louis Community Foundation, Inc., a Missouri nonprofit corporation located in St. Louis, Missouri, that the funds thus transferred be used to enhance the quality of life for all the citizens of St. Louis region as part of the Community Endowment Fund.”
New Donor Advised Fund
”I give and bequeath the sum of $_______/ the following described property_______(description of assets given) to the St. Louis Community Foundation, Inc., a Missouri nonprofit corporation located in St. Louis, Missouri, that the funds thus transferred be used to establish a fund, to be know as the _________(name of Donor Advised Fund), {SELECT ONE: the income OR the income and/or principal} to be used for grantmaking to qualified charitable organizations. While the St. Louis Community Foundation is given complete discretion in making grants, suggestions may be made from time to time to the Foundation’s Board by ________ (individuals named by the donor.)”
Existing Donor Advised Fund
”I give an bequeath the sum of $_______/the following described property________ (description of assets given) to the St. Louis Community Foundation, Inc., a Missouri nonprofit corporation located in St. Louis, Missouri, that the funds thus transferred be directed to the ________ (name of the donor advised fund), an existing donor advised fund at the St. Louis Community Foundation.”
Designated Fund
”I give and bequeath the same of $_______/ the following described property _______(description of assets given) to the St. Louis Community Foundation, Inc., a Missouri nonprofit corporation located in St. Louis, Missouri, that the funds thus transferred be used to establish an endowment fund, to be known as the _________ (name of fund), the income to be used to make grants to the following nonprofit charitable and educational organization(s) (indicate percentage to each organization if more than one):_________________.”
Field of Interest Fund
”I give and bequeath the sum of $_________/ the following described property _________ (description of assets given) to the St. Louis Community Foundation, Inc., a Missouri nonprofit corporation located in St. Louis, Missouri, that the funds thus transferred be used to establish an endowment fund, to be known as the ___________ (name of fund), the income to be used to make grants to nonprofit organizations engaged in the following charitable and education activities in Greater St. Louis area (for example, sheltering the homeless, aiding the elderly, supporting the arts):__________________.”
The lanaguage provided is not intended to be a substitute for legal or tax advice.