Planning Your Estate

The Community Foundation of the Fox River Valley is a valuable resource for those who are considering a charitable provision in their estate plan.  The Foundation's President will meet with interested individuals and their legal or financial advisors to discuss ways in which their charitable objectives can be fulfilled.

Bequests

A bequest to the Foundation can be added to an existing fund or can be used to establish a new named fund for the donor, the donor's family, a charitable purpose or a charitable organization.

Unrestricted Bequests are devoted to the general purposes of the Foundation.  In 1983, an unrestricted bequest from the estate of William B. Greene (1886-1982) was placed in the Foundation's General Fund to provide grants to non-profit organizations in the community.

Unrestricted Bequests (Endowments) are also unrestricted in purpose.  However, the principal of these gifts must remain intact while the income is available for distribution for charitable purposes.  In 2000, this type of bequest was made to the Foundation from the estate of Austin E. Stoll (1936-1999).  The income from Mr. Stoll's bequest is distributed annually as a memorial to his parents, Harold and Edith Stoll.

Restricted Bequests are awarded for only those charitable purposes designated by the donor.  A 1970 bequest from the estate of Katharyn Simons (1885-1969) was restricted to scholarships for area students.

Restricted Bequests (Endowments) provide for the preservation of the principal.  Francis D. Tighe (1907-1995) left a bequest for the ongoing support of Holy Angels Catholic Church in Aurora, providing substantial annual support for the church in perpetuity.

Life Insurance

Gifts of life insurance enable donors to make sizable gifts at a relatively low cost.  Several individuals have named the Foundation as a beneficiary of life insurance policies.  In 1980, the Foundation received the proceeds from a life insurance policy from John S. Dunham (1931-1979).

Charitable Trusts

Two types of charitable trusts used in estate planning are Charitable Remainder Trusts and Charitable Lead Trusts.  These trusts can be effective in maximizing the tax benefits to a donor's estate.  In 1991, an unrestricted endowment fund in the name of Glenn and Leola Commons was created upon receipt of a distribution from their trust.

Please note:

Further information may be obtained at the Foundation office regarding ways to implement your estate plan through the Community Foundation of the Fox River Valley.  However, due to the ever-changing and complex nature of estate planning, it is recommended that legal counsel be consulted for professional assistance.