Estate Gifts
Creating Your Legacy at The Charles and Salome Reymann Foundation
From scholarships to community service programs, the impact of estate gifts by generous benefactors has been important to advancing the Reymann Foundation’s mission.
An estate gift of any size to the Foundation is often the easiest and most direct way for donors to achieve their charitable goals, while providing an avenue for donors to impact the Foundation beyond what would have been possible during their lifetimes.
Benefits
- Direct a gift of any amount while retaining control of your assets during your lifetime.
- Retain the ability to modify your gift at any point in time.
- Create a gift from your estate free from federal estate taxes, permitting the Foundation to utilize the full amount of your gift.
- Be comfortable in creating a legacy that has a lasting impact on the Reymann Foundation, our mission and most importantly, the people we serve.
- Through transferring your retirement assets to the Foundation directly upon your death, your estate may claim a charitable estate tax deduction. Neither your estate nor your heirs will be required to report any taxable income from the distribution. The Foundation will keep 100% of the IRA assets and apply them to a charitable purpose you choose.
Estate Gift Simplicity
Estate gifts can be made to the Reymann Foundation through your Will or Living Trust. Examples of these estate gift structures include a specific dollar amount, securities, real estate, or a percentage or residue of your estate. Another means of making an estate gift is by designating the Foundation as a beneficiary of a retirement account or life insurance policy. Below please find a list of assets that can be used to make an Estate Gift to the Reymann Foundation:
- Cash
- Insurance
- Real Estate
- Retirement Assets
- Securities
Example Language for Bequests to the Reymann Foundation
The following are examples of bequest language you can provide to your attorney. Each benefactor’s situation is unique, and these examples include some but not all the possible bequest structures.
Percentage of estate for unrestricted purposes
I give, devise, and bequeath to The Charles and Salome Reymann Foundation, a not-for-profit organization located in Akron, Ohio (“The Foundation”), ______% ( ______ percent) of the rest, residue, and remainder of my estate, to be used for the general purposes of The Foundation.
Percentage of estate for specific purposes
I give, devise, and bequeath to The Charles and Salome Reymann Foundation, a not-for-profit organization located in Akron, Ohio (“The Foundation”), ______% ( ______ percent) of the rest, residue, and remainder of my estate to be used as I have directed in the most recently dated separate fund agreement or other written designation document signed by me and maintained by The Foundation; provided, however, if no such agreement or designation document exists at the time of my death, then for its general purposes.
Specific amount for unrestricted purposes
I give, devise, and bequeath to The Charles and Salome Reymann Foundation, a not-for-profit organization located in Akron, Ohio (“The Foundation”), the sum of $______ (_____ dollars), to be used for the general purposes of The Foundation.
Specific amount for specific purposes
I give, devise, and bequeath to The Charles and Salome Reymann Foundation, a not-for-profit organization located in Akron, Ohio (“The Foundation”), the sum of $______ (_____ dollars), to be used as I have directed in the most recently dated separate fund agreement or other written designation document signed by me and maintained by The Foundation; provided, however, if no such agreement or designation document exists at the time of my death, then for its general purposes.
Is The Reymann Foundation Already in Your Estate Plan?
If you have already made the Foundation a beneficiary of your estate, thank you. So that we can properly acknowledge and steward your gift, please let us know.
How Do I Get Started?
Contact us today to let us know your intentions. If you do not already have an estate attorney, we can connect you with one to execute your plans.
Contact your plan custodian if you are interested in making the Reymann Foundation a beneficiary on one of your retirement accounts. He or she will provide you with the beneficiary designation forms to make this bequest.