Testamentary Language

If your client is considering a charitable bequest, the following may be helpful in completing their estate planning documents or may also be adapted to name a fund the beneficiary, contingent beneficiary, or remainder beneficiary of an IRA or other retirement plan, life insurance, or annuity policy or similar assets. The suggested language is provided to assist donors and their attorneys in making gifts to different types of funds at the Community Foundation. We welcome the opportunity to discuss these options with you and/or your client(s).

I hereby give and bequeath [specific amount/percentage of estate/residue of estate] to Martin County Community Foundation, Stuart, FL, tax identification number 65- 0024030, to establish the [name – e.g Mary Jones or an acronym if donor would like anonymity] Fund to be perpetually recognized and administered by the Foundation in accordance with its guiding documents and its procedures for endowed funds.

Choose one option from below (a combination may also be possible depending on your or your client’s desires):

  1. This Fund is to be a Designated Fund and I direct that the income from this fund will support the following nonprofit organizations: [insert specific nonprofit organization(s) the donor would like to support]
  2. This Fund is to be a Donor Advised Fund and [name, address] will be the Fund Advisor(s) and will have the privilege during his or her lifetime to make annual grant recommendations to the Community Foundation’s Board.
  3. This Fund is to be a Field of Interest Fund and I direct that the income from this fund will support nonprofit organizations and programs which promote [list specific areas of interest such as education, arts, animal welfare etc.]
  4. This Fund is to be a Scholarship Fund and I direct that the income from this fund will support students graduating from a Martin County High School and pursuing higher education. [Any additional criteria should be discussed with a representative of the Community Foundation.]
  5. This Fund is to be an Unrestricted Fund and I direct that the income from this fund shall be made in accordance with the Community Foundation’s policies for such funds and shall be used for unrestricted charitable purposes in Martin County.