The Nebraska Community Foundation works with community, organizational and donor-advised affiliated funds serving 250 communities located in 80 counties. NCF and its affiliated funds have reinvested $269 million in Nebraska since 1994.
A bequest in your will can help you celebrate your good life and share the fruits of your labor with those you love and care for. A will is much more than a legal document. It is an opportunity to responsibly provide for the security of your loved ones. It can be a lasting legacy of your life and commitment to your community, as well.
Your will allows you to make choices regarding who will receive all the property you have accumulated during your lifetime. Without a will, the laws of the State of Nebraska distribute your property, disregarding your personal wishes and the needs of your loved ones. Do you want to take the chance that the State of Nebraska’s plan is exactly as you would have intended? Your will allows you to make choices about how your family’s future security is provided. A properly drafted will allows you to make the choice of minimizing death taxes and other costs.
If you haven’t reviewed your current will within the past 12 months, now would be a good time to read your will to make sure that it will still allow you to share the fruits of your labor with those you love and care for.
An outdated will can often be as bad as dying without a will. Common events in life, such as births, deaths, marriages, divorces and retirements, can trigger the need to update your will. Also, changes in tax law, an inheritance received, assets purchased or sold can impact your estate plan.
Making a will is neither difficult nor expensive. Your first step is to make an appointment with your attorney to plan your will. If you do not have an attorney, ask a friend or relative to recommend one, call your local bar association, or call us at the Nebraska Community Foundation. The second step involves careful consideration of those people and charitable organizations that are important to you. Caring for family, friends, your hometown, and other charitable organizations can be accomplished through your will.
A bequest, a gift in your will, is an opportunity to make a difference in the quality of life in your hometown and continue the support you have provided during your lifetime. Many people discover that a bequest is a satisfying way for them to provide for future resources in their hometown. Your bequest can be a percentage of your estate or a stated dollar amount. Others prefer to gift a percentage of the “residue” or what remains after paying all inheritances, debts and costs. Finally, there are special arrangements that allow you to make a gift that can provide income to your family and later be used by your hometown.
Find examples of the wording used to make several types of bequests.
Learn how a significant gift through a bequest in the wills of Bruno and Lavern Boettcher benefits children and families in Spencer, Nebraska.
Al Svajgr has been involved in cattle feeding, ranching, farming and banking in Dawson County, at Cozad, since 1977. He was chairman of the Beef Board, a national group of beef producers, so the gift made perfect sense. “All the gain I had in those animals would have been taxable if I’d sold them and then made a cash donation,” he said. “This way, I was able to give more value, because I didn’t have to pay taxes on the capital gains.”Read more →