Sample Bequest Language
One of the easiest ways to support Christchurch School Foundation is to establish a bequest in your will or living trust. Through a bequest, you may transfer the ownership of specific assets (such as cash, securities, a home, an IRA, or other property) to the School at death.
Bequests for Unrestricted Purposes
Unrestricted gifts, used for the greatest needs as determined by the Board of Governors, are especially valued by Christchurch School Foundation.
For a bequest of a specific dollar amount, the possible language is:
"I give to Christchurch School Foundation, located in Christchurch, Virginia, the sum of (amount) to be used for the benefit of the School."
For a bequest of specific assets, the possible language is:
"I give to Christchurch School Foundation, located in Christchurch, Virginia, my (asset) to be used for the benefit of the School."
A proportional bequest is often the best way to accomplish your goals if you do not want to specify the exact amount or nature of the intended gift, perhaps because the size of the future estate is difficult to estimate. Christchurch School Foundation would receive a percentage of the estate or trust or, alternatively, a percentage of the balance (remainder) of the estate or trust after all other provisions have been met.
Possible language is:
"I give to Christchurch School Foundation, located in Christchurch, Virginia, (percent) of my estate (or percent of the remainder of my estate) to be used for the benefit of the School."
A contingent bequest takes effect only if the primary intention cannot be met (for example, if the primary beneficiary does not survive the donor), ensuring that property will not be distributed to unintended beneficiaries.
Possible language is:
"If (name of primary beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to Christchurch School Foundation, located in Christchurch, Virginia, all of the remainder of my estate, to be used for the benefit of the School."
Bequests for Restricted Purposes
If you would like to support a specific program or purpose that is meaningful to you and would like your name and/or that of a loved one remembered, you can designate your bequest accordingly. Simply use any form of the possible language stated above and replace "to be used for the benefit of the School" with "to be used for (insert purpose or intent with the specific designation)."
Example: "I give to Christchurch School Foundation, located in Christchurch, Virginia, the sum of $50,000 to establish the John T. and Mary W. Doe Endowed Scholarship Fund for deserving Christchurch School students."
Bequests for Perpetuating an Annual Fund Gift
If you would like to endow in perpetuity your unrestricted gift to the Annual Fund and have your class credited each year with income generated through your endowed fund, you can designate your bequest as follows: "I give to Christchurch School Foundation, located in Christchurch, Virginia, the sum of (amount) to be used to establish an Annual Fund Endowment in my name."
A Bequest to Christchurch School Foundation
We recommend you consult an attorney in the preparation of your will or living trust and to supervise its execution to comply with your state's requirements. When including a provision for Christchurch School Foundation in your will or living trust, use our full legal name and address. (Your attorney may suggest including our federal taxpayer identification number, as well.)
- Our full legal name is Christchurch School Foundation.
- Our address is 49 Seahorse Lane, Christchurch, VA 23031.
- Christchurch School Foundation is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, Federal Tax ID No. 51-0236362.
- Christchurch School Foundation welcomes bequests of any size.
- You will receive an estate tax deduction for the full amount of your bequest to Christchurch School Foundation.
- You can change your mind about your bequest at any time until your death.
- You can make a bequest without designating a purpose; Christchurch School Foundation will gratefully use it for its greatest need.
- Christchurch School Foundation encourages you to think about directing your legacy to a purpose that holds a special meaning for you.
- We advise consulting Wesley M. Charlton if you wish to designate your gift to a specific purpose.
For confidential estate planning advice, please contact Wesley M. Charlton at (804) 758-2306 Ext. 160.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.