Will or Living Trust
A residual bequest benefits Casa Colina with all or a portion of your remaining assets after your estate expenses are paid and your specific gifts to family have been fulfilled. Residual bequests increase or decrease with the value of your estate over time so that you do not have to continually update your estate plan as your circumstances change.
I give and devise to Casa Colina, located in Pomona, CA, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used where it determines the need is greatest (or for the support of a specific fund or program).
A specific bequest allows you to make a gift of a set dollar amount or a specific asset for Casa Colina. Specific gifts are used when you want an exact amount to benefit Casa Colina or have a specific asset, such as books or collectibles, which you want us to receive.
I give and devise to
Casa Colina, located in Pomona, CA, the sum of $___________ (or _________ asset) to be used where it determines the need is greatest (or for the support of a specific fund or program).
A contingent bequest allows you to name Casa Colina to receive a gift from your estate in the event one or more of the other named beneficiaries in your estate dies or cannot accept the transfer from your estate.
If ___________ bequest cannot be fulfilled at the time of my demise, I give and devise to Casa Colina, located in Pomona, CA, her/his/its/their share to be used for its general purposes (or for the support of a specific College or purpose. In the event this purpose is no longer practicable, then I direct that this bequest be used by Casa Colina for a purpose as close as possible to my original intent).
Identifying the best asset when making a charitable bequest
In order to save your estate possible income taxes, if you have retirement accounts, savings bonds, or other assets subject to income tax at your death, we recommend including the following language in all wills and living trusts:
I instruct that all of my charitable gifts, bequests and devises shall be made, to the extent possible, from property that constitutes "income in respect of a decedent" assets, as that term is defined by the Internal Revenue Code and the laws of my home state.
Note: Naming opportunities and endowments have various gift minimums which may change over time. If you wish to use a bequest to fund a named gift or endowment, please contact us for additional language to ensure we can use your restricted gift to carry out your legacy.
Casa Colina Foundation
255 East Bonita Avenue
Pomona, CA 91767
Legal Name: Casa Colina Foundation
State of Business: California
Tax ID Number: 95-3655255