Bequests through a will are one of the most effective methods of providing for your favorite charities while enabling you to keep assets or property during your lifetime. Naming the Community Foundation in your will can be accomplished through an amendment called a codicil and by establishing a deferred fund through the Foundation. Your estate may be entitled to an estate tax deduction for the full value of a bequest. A bequest can be in any of the following forms:

• A general bequest leaves a certain dollar amount;
• A specific bequest leaves a piece of property, such as stock or real estate;
• A residual bequest leaves all or a portion of what remains from an estate after debts, taxes, expenses and other bequests have been paid;
• A contingent bequest leaves assets only under certain conditions.