Did you know that more than half of all Americans die without a will? When this happens, assets are distributed according to state laws where the deceased lived at the time of their death. Leaving instructions for the distribution of your estate is vital to ensure your wishes are executed by those you trust.
At the Community Foundation, we work with donors to maximize their philanthropic impact during and beyond their lifetimes. Many donors include gifts to NTCF in their estate plans to support the causes they care about most and preserve their legacy into the future.
There are a number of ways you can include the Community Foundation in your will or estate plan:
> Make a bequest directly to North Texas Community Foundation in the form of a stated dollar amount or percentage of your estate. This can be accomplished by adding simple language in your will, which our team can provide.
> Include assets such as retirement plans, life insurance policies, or property in a planned gift.
> Designate proceeds from your estate to any or all of these purposes, divided as you wish.
You can also establish a customized plan for the succession of your fund and the addition of a planned gift:
> A designated fund ensures that funds are directed to specific nonprofits of your choosing.
> A field of interest fund provides support to a specific interest area such as animal welfare, cancer research or youth services.
> Funds from your estate may be eligible to transfer into a donor advised fund to keep future generations involved in your grantmaking.
> Funds can be designated as unrestricted to enable the Foundation to address the community’s most urgent needs as they arise.
The Community Foundation team is here to help you put a charitable plan in place when the timing is right for you. As always, be sure to seek the help of a local attorney, accountant, or financial planner when developing your estate plan.