A bequest is the easiest way to provide a future for your favorite charity. To make a gift from your estate, simply create a new will, add a codicil, or draft an amendment to your existing documents.
Through your will, you can permanently secure the work of your favorite charity with an endowment fund, or create a donor advised fund to be directed by your loved ones. There are many ways to create a charitable legacy.
Your gift may include either a specific amount or a portion of your estate. You may direct your bequest to benefit your particular charitable goals or the general mission of the Catholic Foundation.
Benefits of giving through your will or estate:
- Secure a legacy that will improve the lives of others and support your favorite cause
- Make a gift while retaining control of your assets during your lifetime
- You may modify your bequest at any time
- You may create a separate fund named for yourself or in the name of someone you wish to honor
- A gift from your estate is entirely free from federal & state taxes
- A bequest may fund any of the CFGP Funds
Types of Bequests:
- Cash Bequest Give a specific dollar amount or percentage of your estate
- Bequest of Property Leave specific assets, such as securities, real estate, or tangible personal property (for example, works of art or antiques).
- Residuary Bequest CFGP receives all or a percentage of the remainder of your estate after the payment of any specific bequests and expenses.
- Retirement Plan Designate CFGP as a beneficiary of the remainder of your IRA or qualified pension plan
- Life Insurance Name CFGP as the beneficiary of a life insurance policy
Sample Bequest Language
“I, (name), of (city, state, zip), give, devise, and bequest the sum of (specific amount or percentage of the estate or description of property) to the Catholic Foundation of Greater Philadelphia, 100 N. 20th Street, Philadelphia, PA 19103, TAX I.D. #46-1566557, to be used for (specify desired purpose).”
If you already have a will, draft a codicil to make a change without creating an entirely new document. Download a sample codicil form here.
Learn more about the steps in thoughtful planning. The Catholic Foundation of Greater Philadelphia is established to be a tool for you to leave a lasting and secure legacy. Use our request for information form to learn more.