Bequest Language

I.  The first paragraph identifies the bequest (select one):

a.  If the bequest is the remainder of an estate:
I {devise, bequest, give} the remainder of my estate of whatever nature and wherever located, which I may own or over which I have the right of testamentary disposition or a power of appointment at my death, to the Arkansas Community Foundation, an Arkansas charitable corporation, to be administered in accordance with and subject to the governing instruments of the Foundation. [If the value of this gift at the time it is transferred equals or exceeds $10,000, this gift or bequest shall be a permanent named fund known as the {name of fund} Endowment.]

b.  If the bequest is a specific amount or asset:
I give {amount or description} to the Arkansas Community Foundation, an Arkansas charitable corporation, to be administered in accordance with and subject to the governing instruments of the Foundation. [If the value of this gift at the time it is transferred equals or exceeds $10,000, this gift or bequest shall be permanent named fund known as the {name of fund} Endowment.]

II.    The second paragraph indicates how the bequest will be used. ARCF strongly recommends that you discuss any bequest plans with ARCF to insure that your charitable intentions can be fulfilled. In most cases, clients choose not to include this paragraph but rather execute a fund agreement with ARCF. This allows them the flexibility of changing the charitable purpose as often as they like during their lifetimes without redrafting or amending the legal documents.

a.  If the bequest is unrestricted:
It is my desire that distributions for the Fund be made to provide financial support for such worthy charitable, cultural or educational purposes as the ARCF Board of Directors shall from time to time determine.
OR
It is my desire that distributions for the Fund be made at the recommendation of the _______________, an Affiliate of the Arkansas Community Foundation, Inc. (this is important language if the intent is that the gift be made for the benefit of an Affiliate.)

b.  If the bequest is to support a particular field of interest:
It is my desire that distributions for the Fund be made to provide financial support for organizations, to be selected by the ARCF Board of Directors that are [state particular field of interest or area of service; e.g., organizations that are engaged in assistance to the elderly].

c.  If the bequest is to support designated charitable organizations:
It is my desire that distributions for the Fund be made to the charitable organizations listed below in perpetuity and in the percentages indicated:

Name and address of organization                  Percentage
___________________________                    _________
___________________________                    _________
___________________________                    _________
                                                                       100%

ADD THE FOLLOWING FOR ALL GIFTS:
In the event that it becomes unnecessary, undesirable, impractical or impossible to utilize funds for such purposes, ARCF shall have the right to utilize the Fund for such other charitable purposes as the ARCF Board of Directors deems appropriate, in accordance with the governing instruments of ARCF, as amended from time to time.