Texas Law Today

Estate Planning using Community Foundations

Posted on February 7, 2012 Updated on March 28, 2013

If you have a desire to pass on some of your wealth to the charity of your choosing, there are numerous ways to accomplish this goal.  You could make a bequest in your will to your favorite cause, you could create a charitable trust, you could create a foundation, or you could give to a community foundation during your life or after death. 

A Community Foundation can help you reach your charitable goals as follows:

1. Build a personalized philanthropic plan with assistance from our expert staff, who will work with you to carefully understand your charitable goals and interests.
2. Use the Community Foundation’s knowledge of your region and its nonprofits to enhance your giving.
3. Choose to remain anonymous, if you want to protect your privacy and deflect much unwanted solicitation.
4. Create a permanent legacy for future generations.
5. Bring your family together around giving and pass along your philanthropic values to the next generation.
6. Develop a family mission statement and define charitable interests and goals.
7. Develop a list of organizations and programs that match your family’s interests.
8. Facilitate annual family meetings to consider grants from your fund.

If your interested, you can contact the local community foundation in your area.  Most states have an association of community foundations to assist you in picking the right one.  In my area, The Community Foundation of North Texas at  817-877-0702.