A gift made through your will is also known as a bequest.

 

A charitable bequest is a simple way for you to leave a gift that will continue to provide for the Church in East Texas long after you are gone. 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 to the recipient resulting from the carefully planned use of tools like a testamentary charitable trust. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes.

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a charitable bequest in your estate plan. Provided below is basic bequest language to assist you and your attorney.

Sample Bequest Language

General Bequest

If the donor desires that his or her gift (bequest) be used at the discretion of The East Texas Catholic Foundation to support current charitable needs, the following language is sufficient:

I give, devise and bequeath (description of assets or percent of residual estate) to East Texas Catholic Foundation, to be placed in (name of the fund) Fund to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701.

However, if the donors desires that the gift (bequest) be held in a named fund and applied to a specific organization or field of interest, add the following:

The (name of fund) of East Texas Catholic Foundation will be held in perpetuity, not in trust but in fee simple, preserving the name with grants directed to the following charitable interests and primary concerns with regard given to the current priority needs at all times, with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.

(name of organization(s) or areas of charitable and/or geographic interests.)

Specific Bequest

If you are considering making an outright bequest to East Texas Catholic Foundation, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to East Texas Catholic Foundation, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to East Texas Catholic Foundation, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.

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 East Texas Catholic Foundation, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.

Percentage Bequest

If you are considering making a bequest of a percentage of your estate to East Texas Catholic 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 East Texas Catholic Foundation, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.

Residual Bequest
I hereby give, devise and bequeath to East Texas Catholic Foundation the rest, residue and remainder of my estate, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.
 

Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to East Texas Catholic Foundation DESCRIPTION OF PROPERTY, to be held by East Texas Catholic Foundation in perpetuity, not in trust but in fee simple with the reasonable spending policy amount to be available in the sole discretion of East Texas Catholic Foundation, for uses and purposes in support of religious, charitable and educational needs and programs consistent with the Foundation’s charter. East Texas Catholic Foundation is a qualified charitable organization located at 1015 ESE Loop 323, Tyler, TX 75701, Federal Tax ID #47-2153634.