You can plan now for a future gift to the Foundation by including a bequest provision in your Will or Trust. Chelsea Education Foundation can be named a beneficiary of an estate or as a recipient of a specified gift. Assets such as Individual Retirement Account (IRA) benefits, 401(k) benefits, and life insurance benefits can be donated by naming the Chelsea Education Foundation as the designated beneficiary of your contract.
A bequest is for you if: (1) You want to help ensure the Foundation’s future viability and strength; (2) You want the flexibility of a gift that doesn’t affect your current cash flow; (3) You wish to retain control of your assets during your lifetime; (4) You need the flexibility to change you bequest if your circumstances change; and (5) You gain satisfaction from teh certainty that your bequest will support the Foundation long after you are gone.
Please refer to the following for sample bequest language
- Unrestricted Gifts: “I give, devise, and bequeath to the Chelsea Education Foundation, Chelsea, Michigan, the sum of $____________∗, for its general purposes.”
- Gifts for a Specific Purpose: “I give, devise, and bequeath to The Chelsea Education Foundation, Chelsea, Michigan, the sum of $____________∗, to be used for [state specific purpose, program, or activity].”
- Residuary Bequest: “I give, devise, and bequeath to The Chelsea Education Foundation, Chelsea, Michigan, ___________% of the residue of my estate to be used for its general purposes.”
- Contingency Gift: “In the event _______________ predeceases me, I give, devise, and bequeath his/her share of my estate to The Chelsea Education Foundation, Chelsea, Michigan, to be used for it’s general purposes.”
Rather than leaving a certain lump sum, you may include language that refers to a percentage of your estate or a description of the property you wish to give.