BEQUESTS

The simplest way to leave a planned gift is to make a bequest by including specific language in your will or living trust naming the Bartlesville Community Foundation (or your fund) as the recipient of a testamentary gift. The bequest can be for a specific dollar amount, a percentage of your estate or residue of the estate. Below you’ll find sample language to include in your will or trust.

Working with the BCF during your lifetime helps the BCF ensure your philanthropic goals are met most accurately. The BCF also provides a cost effective strategy to plan your legacy by naming your fund in a trust. When the need to make a change arrises, changes may be made to the fund agreement swiftly without a need to alter estate planning documents.

BENEFICIARY DESIGNATIONS

It is also possible to name the Bartlesville Community Foundation as a beneficiary of all or part of a financial arrangement, including retirement plans, IRAs or life insurance policies.

There are several advantages to this route:

• The policies are easy to create and modify
• You retain control of your assets during your lifetime
• Gifts are tax-exempt
• 100% of your gift is put to work precisely as you direct it

RETIREMENT ASSETS

Naming the Bartlesville Community Foundation as a beneficiary of your retirement funds, such as an IRA, 401(k), or 403(b), is a simple and effective way to benefit the community while avoiding significant, often unanticipated, tax penalties. The IRA qualified charitable distribution allows people age 70½ or older to direct up to $100,000 of their required minimum distribution from an IRA to a qualified charity without counting the distribution as taxable income.

SAMPLE LANGUAGE FOR YOUR WILL

Start with these examples of language to share with your attorney/estate planner/financial advisor to make a gift in your will or living trust.