Outer Banks Community Foundation's Bequest Language

Our Community Foundation was created with the knowledge and belief that gifts by bequest might be the single most impactful gift type made by our donors. And it's true: an excellent way for you to support the future of the Outer Banks is to leave a bequest in your will, living trust or with a codicil. The David Stick Legacy Society, named after our founder, was created to honor those individuals who leave legacy gifts to the Outer Banks Community Foundation.

Download an OBCF Legacy Information Sheet
More information on David Stick Legacy Society

Types of Bequests

There are a number of ways you can make a bequest to Outer Banks Community Foundation.

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Outer Banks Community Foundation.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Outer Banks Community Foundation.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Outer Banks Community Foundation.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Outer Banks Community Foundation.

Bequest Benefits

A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

Bequest Language

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Outer Banks Community Foundation in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to Outer Banks Community Foundation, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Outer Banks Community Foundation, Federal Tax ID #58-1516313, for Outer Banks Community Foundation's general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Outer Banks Community Foundation, Federal Tax ID #58-1516313, for Outer Banks Community Foundation's general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Outer Banks Community Foundation, Federal Tax ID #58-1516313, for Outer Banks Community Foundation's general use and purpose.

2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Outer Banks Community Foundation, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Outer Banks Community Foundation, Federal Tax ID #58-1516313, for Outer Banks Community Foundation's general use and purpose.

3. Residual Bequest

I hereby give, devise and bequeath to Outer Banks Community Foundation, Federal Tax ID #58-1516313, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Outer Banks Community Foundation's general use and purpose.

4. Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Outer Banks Community Foundation, Federal Tax ID #58-1516313, DESCRIPTION OF PROPERTY to be used for Outer Banks Community Foundation's general use and purpose.

NOTE: Any bequest can be directed to a specific fund by amending any of the above to include:
"This gift shall be added to the _________________________ Fund."

Restricted Bequests

If you have specific restrictions or designations in mind, or if you wish to create and name a new fund with your gift, please contact us. We are happy to help you and your advisor(s) tailor the appropriate language for your will. Depending on your goals, it may be advisable to complete a short fund agreement with us now, during your lifetime, especially if your eventual gift would start a new fund or program. We simply want to be sure to have your wishes in writing for when that time comes.

Donor Anonymity

You can notify us of your intentions but still remain anonymous to the public. Or you may wish to be recognized through our David Stick Legacy Society, which honors those individuals who have named the Outer Banks Community Foundation as the beneficiary of any type of planned or deferred gift. Adding your name to our Legacy Society may inspire others to follow your example and give back to our community.

Finally, we always recommend that you discuss your options with your family and with your attorney, accountant, and/or financial planner, as appropriate.

Contact Us

Please contact us if you have any questions about how to make a bequest to Outer Banks Community Foundation or to request any additional information that might be helpful to you and your attorney as you consider making a bequest to us.

Let us help you with your gift plans

Legacy Giving