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Bequests/ Estate Gifts

A charitable gift from your estate is a method of giving that enables you to achieve your financial goals and benefit Community Action Partnership of San Luis Obispo, Inc. No other planned gift is as simple to implement or as easy to change should you ever need the assets during your lifetime.A charitable gift from your estate is a method of giving that enables you to achieve your financial goals and benefit Community Action Partnership of San Luis Obispo, Inc. No other planned gift is as simple to implement or as easy to change should you ever need the assets during your lifetime.

A bequest may be right for you if:

•  You would like to make a gift to Community Action Partnership of San Luis Obispo, Inc. (CAPSLO)

•  You want the flexibility to change your mind.

•  You want continued access to your wealth, should you need it.

•  You are concerned about outliving your resources.

How it Works

  1. You make Community Action Partnership of San Luis Obispo, Inc.  a beneficiary in your will, or a designated beneficiary of your retirement plan, life insurance policy, or other asset.
  2.  Community Action Partnership of San Luis Obispo, Inc. receives your gift when your estate is settled.

Ways you can define a charitable gift in your estate plan

There are several ways that you can define the amount of your charitable gift to the Community Action Partnership of San Luis Obispo County, Inc.. They are:• A gift of a particular amount of money. For example, you give $25,000.

•  A gift of a specific item or items. For example, you give 1,000 shares of ABC Corporation.

•  A gift that will be made only if one or more conditions are met.  For example, you give $25,000 provided we still offer a particular program or service, or your spouse does not survive you.

    •  A gift that will be made from the remainder of your estate once all other bequests, debts, and taxes have been paid. For example, you give 25% of the remainder of your estate. Often called a “residuary bequest,” this approach assures that your family will be taken care of before your estate makes a bequest to us.

     

    Ways to specify how we may use your bequest

    You have several options for telling the Community Action Partnership of San Luis Obispo County, Inc. how we may use your bequest, once we receive it. They are:

    • An unrestricted bequest – This is a gift for our general purposes. This can be the most useful kind of gift because it allows us to put your gift to the best possible use at the time we receive it.

    • A restricted bequest – This is a gift for a specific use, such as a special project or program that is important to you. It is best for you to consult with us before placing restrictions your bequest to be sure we can carry out your wishes.

    • An honorary bequest – This is a gift made in honor of someone else. Any form of bequest can also be an honorary bequest. We would be pleased to recognize the people you wish to honor with your gift.

     

    Make sure we can carry out your wishes

    It is very important that your bequest be accurately and clearly described in your estate plan so that we can carry out your wishes as you intended. We are pleased to consult with you regarding the terms of your bequest to make sure that we will be able to carry out your intentions. In order to avoid any possible question that your bequest is to our organization, be sure to include our full legal name and our federal tax identification number in your bequest.Legal name: Community Action Partnership of San Luis Obispo County, Inc.

    Current Address: 1030 Southwood Drive, San Luis Obispo, CA 93401

    Tax identification number: 95-2410253    

    We are happy to provide you with sample bequest language to assist you and your attorney. You have complete flexibility to change your bequest at any time.  If circumstances change in a way that makes you want to revise your gift to us, you can.

     

    Our Recommended Bequest Language

    The following is intended to help you and your attorney in drafting a bequest that satisfies your individual interests.  As you consult your attorney on the selection of appropriate wording to reflect your own goals and intentions regarding the Community Action Partnership of San Luis Obispo County, Inc., be sure the organization’s correct legal name appears in all final documents as:

    • Unrestricted Gift: A gift that can be used where need is greatest

    I give, devise, and bequeath to the Community Action Partnership of San Luis Obispo County, Inc., San Luis Obispo, CA (insert dollar amount) Dollars* to be used for its general purposes. 

    OR

    I give, devise, and bequeath to the Community Action Partnership of San Luis Obispo County, Inc. or its successor, (insert dollar amount) Dollars* to be used for its general purposes.

    • Residuary Bequest: Leaves any remainder after all other bequests have been paid

    I give, devise, and bequeath to the Community Action Partnership of San Luis Obispo County, Inc., San Luis Obispo, CA, (insert percentage amount) percent of the residue of my estate to be used for its general purposes. 

    OR

    I give, devise, and bequeath to the Community Action Partnership of San Luis Obispo County, Inc., or its successor, (insert percentage amount) percent of the residue of my estate to be used for its general purposes. 

    • Contingency Gift: Takes effect only if a primary intention can’t be met.

    In the event that (insert name) predeceases me, I give, devise, and bequeath his/her bequest or share to the Community Action Partnership of San Luis Obispo County, Inc., San Luis Obispo, CA to be used for its general purposes. 

    OR

    In the event that (insert name) predeceases me, I give, devise, and bequeath his/her bequest or share to the Community Action Partnership of San Luis Obispo County, Inc. or its successor, to be used for its general purposes.

    * Rather than leaving a certain sum, you can include language that refers to a percentage of your estate or a description of the property you wish to give.

    Most donors leave their gifts to the Community Action Partnership of San Luis Obispo County, Inc. without restriction. This allows the Community Action Partnership of San Luis Obispo County, Inc. to use these funds to help us fulfill our mission – in any of the communities in which we work. The Community Action Partnership of San Luis Obispo County, Inc. honors a donor’s stated intent for the use of a gift. Donors who wish to designate the use of any gift, whether made during their life or through their estate, will have that wish honored. Bequest provisions designated for a specific program, activity or chapter require additional language. It is best to contact the Community Action Partnership of San Luis Obispo County, Inc. in advance for assistance to ensure that your wishes are properly understood.

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