A will is a statement about what matters most in your life. By making a will, you can ensure that your intentions are clearly stated and will be followed by those administering your estate.
Most people would like to leave their mark on the world by doing something that makes the earth a better place. Your contributions to the future of the District 207 Educational Foundation make a statement about you. If, after providing for family, friends, or others, you include a meaningful gift to the District 207 Foundation, you will be contributing to the welfare of future generations of students.
A charitable bequest is a legal provision made by will, that names the Maine Township High School District 207 Educational Foundation as the recipient of all or part of the donor’s estate. The bequest may be in the form of cash, real estate, securities, or other property, as specified in the will. It is important to note that control of the assets named in the will remain under the control of the donor. These gifts enjoy special tax benefits allowed by the federal and state estate tax laws. These laws allow the donor to pass assets to the charity free of estate taxes and many of the limitations that normally apply to gifts.
Most of our friends want their gifts to provide for the general use of the Foundation. However, some people specific particular departments or programs for the bequest while others identify equipment for special programs. Since your bequest will play a vital role in District 207’s future, even though we will not receive your gift for many years, it is important to share your plans with us. The Foundation will have the opportunity to acknowledge your thoughtfulness and generosity. You also will have the assurance that your gift and its designated use are understood by the Foundation.
There are several kinds of charitable bequests, and each can easily be written into your will. You and your attorney can add a simple codicil that will accomplish the task. Below are two sample clauses that can be incorporated into your will.
The type of bequest that is most appropriate for your situation can best be determined in consultation with your attorney or financial advisor.