Planned Giving

How to include Midtown in your will or trust

Thank you for your generous interest in delivering life-changing assistance to Silicon Valley’s most vulnerable residents.

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Responsible Stewardship

Including Midtown in Your Will or Trust

Provide for need families into the future by arranging for a gift to Midtown Family Services in your will or trust.

General Bequest

A general bequest provides that a specific amount of money, a percentage of your estate or a certain piece of property, be given to Midtown Family Services at the time of your death. For most people, a gift of a percentage of the remaining estate after taxes and debts have been satisfied is the most appropriate use of a general bequest.

The following sample language illustrates how a general bequest to charity might be phrased in your will or trust:

EXAMPLE

“I give, devise, and bequeath X% or $X of my Estate, after taxes and debts have been satisfied, to Midtown Family Services, a California nonprofit corporation, with principal business address of 3033 Moorpark Avenue, Suite 22, San Jose, CA, 95128. Tax identification number 46-5507578.”

Residual Bequest

A residual bequest would designate that the remainder or balance of your estate goes to Midtown Family Services — after your will or trust has made gifts of money or property to your loved ones.

The following sample language illustrates how a residual bequest to charity might be phrased in your will or trust:

EXAMPLE

“I give, devise, and bequeath all the rest, residue, and remainder of my property, real, personal, or mixed; after all personal bequests have been made, to Midtown Family Services, a California nonprofit corporation, with principal business address of 3033 Moorpark Avenue, Suite 22, San Jose, CA, 95128. Tax identification number 46-5507578.”

Contingent Bequest

A contingent bequest is useful when you want to make a gift to Midtown Family Services but you feel your heirs will need all the resources of your estate. Thus, a contingent bequest takes effect only in the event none of your heirs survives you. Though planning for this type of contingency may seem unnecessary, it is an important part of good stewardship.

The following sample language illustrates how a contingent bequest to charity might be phrased in your will or trust:

EXAMPLE

“In the event my husband and all of my children should die prior to the distribution of my estate without leaving descendants surviving such event, then, and in that event, the undistributed corpus of my estate shall be distributed to Midtown Family Services, a California nonprofit corporation, with principal business address of 3033 Moorpark Avenue, Suite 22, San Jose, CA, 95128. Tax identification number 46-5507578 .”

Bequest Following Income

A bequest following income provides a regular income stream from a trust to one or more loved ones for a specified term of years. After the term has been fulfilled, a percentage or the entire remaining amount can be giving to Midtown Family Services. This is often used in conjunction with a children’s trust in a will. The trust can designate that the assets be held in trust until the youngest living child reaches a certain age and then be divided among the children and charity.

The following sample language illustrates how a bequest following income to Midtown Family Services might be phrased in your will or trust:

EXAMPLE

“The Trustee shall hold the corpus of my Trust until my youngest living child reaches the age of twenty-two (22), at which time my Trustee shall then distribute fifty percent (50%) of my estate to my children in equal shares and fifty percent (50%) to Midtown Family Services, a California nonprofit corporation, with principal business address of 3033 Moorpark Avenue, Suite 22, San Jose, CA, 95128. Tax identification number 46-5507578 .”

A “Give It Twice” Bequest

A “Give It Twice” bequest is another variation of the Bequest Following Income. With this arrangement, the assets are held in Trust for the children for a period of ten years after the second spouse’s death. During this time, the Trustee distributes 10% of the value of the trust each year to the children as beneficiaries or 100% of the initial value of the Trust over the term. If the Trust earns close to 10% each year the children will receive the full value of the estate spread out over a ten-year period and then a designated charity will receive the full value after the ten-year period expires. Midtown Family Services could even serve as Trustee of the Trust if you prefer. This helps insure that the children do not spend the inheritance too quickly and that charity receives a significant gift from the estate.

The following sample language illustrates how a Give It Twice Bequest to your Midtown Family Services might be phrased in your will or trust:

EXAMPLE

“The Trustee shall hold the corpus of my estate in Trust for a period of ten years following my death. During that time the Trustee shall pay out 10% of the initial value of the Trust each year to my children in equal shares. At the end of the ten-year term, the Trustee shall distribute the balance of the Trust estate to Midtown Family Services, a California nonprofit corporation, with principal business address of 3033 Moorpark Avenue, Suite 22, San Jose, CA, 95128. Tax identification number 46-5507578 .”

Give Your Way

Alternate Donation Methods

Donate Securities

If you are interested in donating securities to Midtown Family Services, provide the information shown below to your securities broker and they should be able to complete the transfer.

Once received, Midtown Family Services will immediately convert them into cash to support our organization.

Financial Institution: LPL Financial
DTC Clearing: 0075
For Further Credit to LPL Account #: 4337-0388
For Further Credit to LPL Account Name: Midtown Family Services

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If you choose to plan a bequest to Midtown Family Services we would appreciate knowing and we would like to keep a record so that we can keep you updated on important issues and events within the organization.

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Midtown Family Services is an IRS recognized 501(c)3 non-profit

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