Bequest Language

Including a gift of real estate in your estate plans is an excellent way to reduce estate taxes, create a lasting legacy and support your favorite causes for years to come. Silicon Valley Community Foundation will work with you and your attorney to formulate the appropriate legal language to carry out your wishes.

Some examples for you to consider include:

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 Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California."
     
  • Endowment: "added to the Community Endowment Fund of 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. I direct that (names) be the advisors to this fund. They will have all of the powers, rights and responsibilities of a donor advisor under the policies and relevant laws in place at the time this fund was created as amended from time to time from that point forward."
     
  • Designated or Affiliate Funds: "designated for the benefit of (name of specific organization or affiliate Silicon Valley Community Foundation fund) of 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 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 "used to establish the (choose name) scholarship fund at Silicon Valley Community Foundation, a nonprofit public benefit corporation of the State of California."

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.