A bequest is a provision in your will that designates a gift to a specific person or entity such as the Lehigh Valley Community Foundation. In most cases, a bequest directs that a specific dollar amount, a percentage of your estate, specific property or the remainder of the donor’s estate be given, upon your death (or the death of you and your spouse) to the Lehigh Valley Community Foundation. Such gifts may be in any amount. If sufficient in size, the gift may be used to establish a named charitable fund at the Foundation. If you are interested in making a bequest to the Foundation, you are encouraged to communicate with Foundation staff about your charitable interests and preferred grantmaking intentions.
Bequest language can be as simple as either of the following:
"I give and bequeath to Lehigh Valley Community Foundation $ (dollar amount) OR (percentage) % of my estate OR specific property (such as artwork or a car or a house), to be held, administered, and used by Lehigh Valley Community Foundation."
"I give and bequeath to Lehigh Valley Community Foundation all of the rest, residue, and remainder of my estate, both real and personal, to be held, administered and used by Lehigh Valley Community Foundation."
There are other types of bequests for specific circumstances, and donors are advised to seek the assistance of attorneys and other professional advisors in the preparation of wills and other legal documents. The Bar Association of Lehigh County (610-433-6204) and the Northampton County Bar Association (610-258-6333) are available to assist people who are seeking an attorney for estate planning or other purposes.