Gifts from Will or Trust
Why Include a Charitable Gift in Your Will or Trust?
A planned gift through Community Foundation Tampa Bay can be tailored to reflect your values, family priorities, and long-term philanthropic goals.
Benefits of Donating Through Your Estate:
- Bypass capital gains and ordinary income taxes on donated assets.
- Receive an income tax deduction for the value of the donation.
- Maximize your charitable impact through a tax-free sale.
- Maintain flexibility and control over assets during your lifetime.
- Potentially reduce estate taxes through charitable deductions.
- Make it easier for family members and executors to fulfill your charitable wishes.
- Establish a charitable fund that can continue your philanthropic impact for generations.
How it Works
- Start the Conversation
We’ll help you consider the causes, organizations, or areas of community impact you would like to support through your estate plans.
- Work with Community Foundation Tampa Bay and Your Advisors
Our team will work with you and your attorney or estate planning professional to help incorporate charitable language into your will or trust documents. Community Foundation Tampa Bay can also provide sample language and discuss charitable fund options.*
- Establish Your Charitable Legacy
We make giving simpler. You transfer estate assets to your fund at Community Foundation Tampa Bay that benefits multiple charities that are important to you.
*Sample Bequest Language:“I leave [insert dollar amount, specific asset, percentage or residuum of estate] to Community Foundation Tampa Bay, a 501(c)(3) public charity, Federal Tax ID Number 59-3001853, for the purpose of the [INSERT NAME OF YOUR FUND].”
How George and Mimi Created Their Charitable Legacy
George and Mimi Frank were longtime Sun City Center residents. They believed that true community vibrancy depends on flourishing environmental resources that the Tampa Bay area has in abundance. Mildred “Mimi” Frank’s vision was to protect these crucial resources in order to ensure the health and quality of life of those who live in the Tampa Bay region today – and for future generations to come.
This is why they created the George and Mimi Frank Environmental Endowment with a gift of over $1 million from their estate. They worked with their attorney and the staff at Community Foundation Tampa Bay to design their giving plan and the endowment fund.
After they passed away, assets from their estate were transferred to the Foundation and placed into their fund. Annual grants from the endowment are made to nonprofit organizations with guidance provided by regional councils located throughout the Tampa Bay area. George and Mimi’s vision for environmental preservation has been realized and they will be remembered for generations to come.
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Ask Max
Our AI charitable planning assistant can help you compare gift options, understand potential benefits, and answer common questions as you consider the best way to support the causes you care about.
- Secure, expert-informed guidance to support your charitable planning
- Quick answers to common charitable giving and estate planning questions
- Interactive gift comparison tools to help you evaluate your options
Chat with Max™ now or connect with a member of our team below to start the conversation and learn more.
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