The Legacy Fund

About the Legacy Fund

The need for community support of our schools has never waned and we don’t expect that it ever will. The Legacy Fund will ensure that we can sustain the valuable support we provide to Berkeley schools predictably and reliably for the long term.  In addition, the Legacy Fund will enable us to commit dollars to multi-year grant commitments for larger change initiatives for Berkeley schools. You can be confident that your gift will provide a legacy for children, for public education, and for your community.

Begin Your Legacy with Us: Bequests

A powerful way for you to support The Berkeley Public Schools Fund’s mission is to leave a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

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. Charitable 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.

Free Will

To help you get started on your plans and legacy, you can use FreeWill, an online tool that guides you through the process of creating a legally valid will or trust. It’s easy to use, accessible online and can be completed in 20 minutes. You can use this resource on its own, use it to document your wishes before finalizing your plans with an attorney.

Have you already included a gift in your will or trust? Please fill out this form to let us know! We would love to thank you for your generosity.

Do you have an IRA, 401(k), life-insurance policy, or any other assets not included in your will? If so, these are called non-probate assets and you must plan your beneficiaries for them separately. Use this online tool to make your plans and designate us as a beneficiary of one or more of these assets.

Types of Bequests

There are a number of ways you can make a bequest to The Berkeley Public Schools Fund.

Specific Bequest

A specific bequest involves making a gift of a specific asset such as a car, boat or other property or a gift for a specific dollar amount. For example, you may wish to leave $10,000 to The Berkeley Public Schools Fund.

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 5% of your estate to The Berkeley Public Schools Fund.

Residual Bequest

A residual bequest is made from the balance of an estate after the will or trust has distributed 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 The Berkeley Public Schools Fund.

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 car, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the car will go to The Berkeley Public Schools Fund.

Bequest Language

If you are considering making a specific bequest to The Berkeley Public Schools Fund, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to The Berkeley Public Schools Fund, a nonprofit organization located at 2020 Bonar Street, Berkeley, CA 94702, Federal Tax ID #94-2918219, for The Berkeley Public Schools Fund’s general use and purpose.

Percentage Bequest

If you are considering making a bequest of a percentage of your estate to The Berkeley Public Schools Fund, 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 The Berkeley Public Schools Fund, a nonprofit organization located at 2020 Bonar Street, Berkeley, CA 94702, Federal Tax ID #94-2918219, for The Berkeley Public Schools Fund’s general use and purpose.

Residual Bequest

I hereby give, devise and bequeath to The Berkeley Public Schools Fund, a nonprofit organization located at 2020 Bonar Street, Berkeley, CA 94702, Federal Tax ID #94-2918219, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for The Berkeley Public Schools Fund’s general use and purpose.

Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to The Berkeley Public Schools Fund, a nonprofit organization located at 2020 Bonar Street, Berkeley, CA 94702, Federal Tax ID #94-2918219, DESCRIPTION OF PROPERTY to be used for The Berkeley Public Schools Fund’s general use and purpose.

 

Please contact your lawyer or financial advisor about the options that would work best for you and your family.

Thank you for your support!

Berkeley Public Schools Fund
PO Box 2066
Berkeley, CA 94702
510.644.6244
schoolsfund@berkeley.net

Tax ID

Tax ID #94-2918219

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