Quite often, people cannot make large gifts to organizations of their choice while they are alive-they have bills to pay, college tuition and or loans, and retirement needs, among the many necessities of living. A charitable bequest by will is a simple way to make a lasting gift to your community-to the many nonprofit organizations that have helped to make Oak Park and River Forest so special.

Making a bequest does not reduce your current assets. Rather, it stipulates asset distribution after your death. At any time during your life, you may cancel a bequest, change the beneficiary, or modify gift amounts.

Here is how it works:

• First, you decide if making a lasting gift to your community is what you want to do.
• You can decide to make such a gift at any age.
• Then, you can talk with the staff at the Oak Park River Forest Community Foundation-and your attorney-to determine your charitable objectives.
• You can add language to your existing will or include your charitable bequest in a new will.
• You can give property, cash, appreciated stocks, or other assets.
• You determine the type of fund you want to establish with your gift. You have the option of giving to one or to several charitable not-for-profit organizations with your one bequest.
• You decide what dollar amount will serve as your lasting gift.
• Your charitable gift is excluded from your assets for estate tax purposes. The savings in state and federal death taxes resulting from a gift to the Foundation can be dramatic and your charitable bequest can benefit your family's inheritance.

Bequests can take a variety of forms. Here are some examples:

--you can leave the Foundation a stated sum of money; or

--you can make the Foundation a contingent beneficiary in the event other beneficiaries die before you; or

--you can provide a name by which the gift should be known (or indicate that it is an addition to an existing fund); or

--you also can leave the gift unrestricted or specify a charitable purpose.

We've provided suggested language for making your bequest.

Your decision to leave a bequest by will to your community means that all future earnings from your gift serve as a permanent source of community capital, helping you to do good work forever.