Estate Planning
Build your legacy through planned giving
Why Should I Consider Giving to the Community Foundation of Will County for my Estate Planning?
Estate planning is about more than distributing assets, it’s about shaping the legacy you leave behind. By including the Community Foundation of Will County in your estate plan, you can support the causes you care about most while making a lasting investment in the future of our community.
Will County Transfer of Wealth Figures
What if the nonprofits of Will County could secure just 5% of our current net worth in endowments before that wealth possibly leaves the area and goes to heirs living elsewhere?
Will Co current net worth – $236.9 billion
10 yr. transfer – $27.1 billion
10 yr. just 5% – $1.358 million
10 yr, 4% endowed payout* – $54.3 million
What could these funds do to support the important causes that matter to you here in Will County,….forever?
Imagine the amazing work that Will County could do with $54.3 million in grants every year,…forever!
*CFWC’s endowment distribution policy is 4% calculated annually based on a 12-quarter rolling average
Turn Your Values into a Lasting Legacy
A charitable gift through your estate ensures that your generosity lives on for generations. Whether your passion is education, health and human services, the arts, the environment, or strengthening neighborhoods, the Community Foundation helps align your charitable goals with the evolving needs of Will County.
Charitable Giving Options Through Your Estate Plan
Estate gifts can be structured in a variety of ways to meet your personal, family, and financial goals. Common options include:
- Bequests through a will or trust, allowing you to designate a specific amount, percentage, or asset to the Foundation
- Charitable funds, such as:
– Donor-Advised Funds, which empower your family to recommend grants over time
– Designated Funds, supporting specific nonprofits or causes
– Field-of-Interest Funds, addressing broad areas of community need
– Endowment Funds, providing permanent, long-term support
Remain in Control of your Estate Plan
These options allow you to remain in control of your estate plan while creating meaningful, lasting impact.
Maximize impact close to home
The Community Foundation of Will County has deep roots and decades of experience stewarding charitable gifts. Our local expertise ensures your gift responds to real needs, today and in the future, right here where it matters most.
Simplicity, stewardship, and peace of mind
Including the Foundation in your estate plan is often simple to arrange and can offer tax advantages for your estate. More importantly, you gain confidence knowing your gift will be managed responsibly, invested wisely, and distributed in accordance with your wishes.
A gift that grows with the community
Will County will continue to evolve, and so will its challenges and opportunities. A legacy gift to the Community Foundation provides the flexibility to adapt over time—ensuring your generosity remains relevant and impactful long after your lifetime.
If You Would Like to Set Up a Charitable Bequest, Here’s How:
If you want to create a charitable fund through the Foundation but need to prioritize your current financial responsibilities to loved ones, a charitable bequest may be the right option for you.
A bequest allows you to include the Foundation in your will or estate plan, ensuring your gift is made in the future while maintaining financial flexibility today.
Your fund will be established upon receipt of your bequest and created according to your specific wishes. You may also direct your bequest to support an existing Foundation fund.
To include the Foundation in your estate plans, the following suggested language can be used when drafting your bequest.
Unrestricted Bequest
“I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) to the Community Foundation of Will County, an Illinois Not For Profit Corporation of Joliet, Illinois. The net income and, in the Foundation’s discretion, the principal of this gift shall be devoted to the general purposes of the Foundation.”
Unrestricted Bequest (Endowment)
In cases where you (the donor) prefers that the principal of the gift remain intact, the following language may be substituted for the last sentence in the previous example. “The net income only of this gift shall be devoted to the general purpose of the Foundation and the principal shall remain intact.”
Restricted Bequest
“I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) to the Community Foundation of Will County, an Illinois Not For Profit Corporation of Joliet, Illinois. The net income and, in the Foundation’s discretion, the principal of this gift shall be devoted to the support of (a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof). This gift shall be added to an existing Community Foundation fund (or specify the name of the fund) which serves (the stated purpose or purposes).”
Restricted Bequest (Endowment)
In cases where you (the donor) prefers that the principal of the gift remain intact, the following language may be substituted for the last two sentences in the previous example. “The net income only of this gift shall be devoted to the support of (a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof) and the principal shall remain intact. This gift shall be added to an existing Community Foundation endowment fund (or specify the name of the endowment fund) which serves (the stated purpose or purposes).”
Bequest for New Named Fund
If a gift is substantial and contemplates a separate named fund for the donor or some other person, the following language may be used. “I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) to the Community Foundation of Will County, an Illinois Not For Profit Corporation of Joliet, Illinois. This gift shall be known as the ‘__________ Fund’. The net income and, in the Foundation’s discretion, the principal of this fund shall be devoted to the support of (the general purposes of the Community Foundation of Will County, a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof).”
Bequest for New Named Fund (Endowment)
In cases where you (the donor) prefers that the principal of the gift remain intact, the following language may be substituted for the last two sentences in the previous example. “This gift shall be known as the ‘__________ Endowment Fund’. The net income only of this fund shall be devoted to the support of (the general purposes of the Community Foundation of Will County, a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof) and the principal shall remain intact.”
Ready to Learn More About Estate Planning?
Whether you’re just beginning to explore estate planning or are ready to take the next step, please fill out the form below and a member of our team will be in touch.