Bequest Language for Gifts of Real Estate

I give, devise and bequeath to the Real Estate Trust at Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California, located at 2440 West El Camino Real, Suite 300, Mountain View, California 94040-1498, and its successors and assignees, certain real property as further described in Exhibit (insert number and include full legal description of property in attached Exhibit) located at (insert address of property). I direct the proceeds from any sale of the property shall be (it is necessary to state how the money should be used. Following are various examples.)

Unrestricted Use: “used for the general purposes of the Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California.”

Endowment: “added to the Community Endowment Fund of the Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California.”

Donor-Advised Fund: “used to establish the (choose name) donor-advised fund at Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California.”

Designated or Affiliate Funds: “used to (name of specific organization or affiliate Silicon Valley Community Foundation fund) of the Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California.”

Field-of-Interest Fund: “used to establish the (choose name) field-of-interest fund for (describe field- of-interest as programmatic, geographic or combination of both) at the Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California.”

Scholarship Fund: “for (name of education initiative at Silicon Valley Community Foundation)” or “usedto establish the (choose name) scholarship fund at the Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California .”

There are other possibilities depending on what you wish to accomplish. Silicon Valley Community Foundation will work with you and your attorney to formulate the appropriate language according to your wishes.

This information is being provided for informational purposes only and not as part of an attorney-client relationship. In compliance with IRS rules, we advise you to seek your own legal and tax advice in connection with gift and planning matters. This communication, including any attachment, is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.