An excellent way for you to support the Oakwood School’ Foundation’s continued work toward its mission is to leave a bequest in your will or living trust. One significant benefit of making a gift in your will or trust is that it allows you to continue to use the assets you will leave to charity during your lifetime. Another benefit is that you are able to leave a lasting and impactful legacy. Please consider letting the Oakwood Schools Foundation know of your plans so we can properly recognize you as a part of the Oakwood Schools Foundation’s Dream Builders Legacy Giving Society.
Types of Bequests
A residual bequest is made from the balance of an estate after the will or trust has paid each of specific bequest. A common residual bequest involves leaving a percentage of the remainder of your estate to charity. For example, you may wish to leave all (100%), or even 50% of the residue of your estate to Oakwood Schools Foundation.
Percentage (Residual) Bequest Language:
I hereby give, devise and bequeath to the Oakwood Schools Foundation, a component fund of The Dayton Foundation and nonprofit organization, PO Box 351, Oakwood, Ohio 45409, Federal Tax ID #31-6027287, [ALL OR A PERCENTAGE] of the rest, residue and remainder of my estate to be used for [the Oakwood Schools Foundation’s general use and purpose] [or a specific use].
A specific bequest involves making a gift of a specific dollar amount, or a specific asset such as real estate, a collection, or other property. For example, you may wish to leave a gift of $50,000 (or any amount) to the Oakwood Schools Foundation, or perhaps leave your home or other real estate to the Foundation.
Bequest of a Specific Dollar Amount Language:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the Oakwood Schools Foundation, a component fund of The Dayton Foundation, PO Box 351, Oakwood, Ohio 45409, Federal Tax ID #31-6027287, for Oakwood Schools Foundation’s general use and purpose.
Bequest of Specific Real Estate
Gifts of real estate in a will or trust can often be more complicated than bequests with other assets. If you want to leave a gift of real estate in your will or trust to the Oakwood Schools Foundation, we are happy to help connect you with the appropriate contact who can work with you to ensure that the Foundation can effectively use the property and so that you have the appropriate wording in your will to accomplish the impact that you want with your real estate gift.
Please contact us for more information or to inform us of your estate intentions.
If you are considering a gift in your will or trust but would like to ensure that your gift will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to draft bequest language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Oakwood Schools Foundation flexibility should it no longer be possible for our Foundation to use your gift as you originally intended:
If, in the judgment of the Board of Trustees of the Oakwood Schools Foundation, it shall become impossible for the Oakwood Schools Foundation to use this bequest to accomplish the specific purposes of this bequest, the Oakwood Schools Foundation may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
Please contact us if you have any questions about how to make a bequest to the Oakwood Schools Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to support the Foundation and Oakwood students.
If you include a bequest for the Oakwood Schools Foundation in your estate plan, or have already done so, please let us know. We would like to thank you and recognize you for your gift. Having information about your gift also makes our job easier in making sure that the impact you intend is carried out.