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.
Click here for more information on the Community Foundation’s Legacy Society
|Unrestricted Bequests are devoted to the general purposes of the Foundation. These types of bequests provide grants to local non-profit organizations. An unrestricted bequest from the estate of William B. Greene (1886-1982) was placed in the Foundation`s General Fund which provides assistance for programs and projects that serve area citizens.|
|Unrestricted Bequests (Endowments) are also unrestricted in purpose and provide perpetual support for charitable needs. The amount available for distribution is carefully established by the Foundation to ensure the preservation and long-term growth of each endowment fund. This type of bequest was made to the Foundation from the estate of Austin E. Stoll (1936-1999) as a memorial to his parents, Harold and Edith Stoll.|
|Restricted Bequests are awarded for only those charitable purposes designated by the donor. Donors typically name a favorite charity, place of worship or field of interest. Many donors have designated their bequests for scholarships. A bequest from the estate of Katharyn Simons (1885-1969) was restricted to scholarships for area students.|
|Restricted Bequests (Endowments) provide perpetual support for charitable purposes set forth by the donor. Francis D. Tighe (1907-1995) left a bequest for the benefit of Holy Angels Catholic Church in Aurora. Distributions from this bequest have provided substantial annual support for the church, which will continue in perpetuity.|
|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, including John S. Dunham (1931-1979).|
|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. 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.