Creating a B.E.S.T. Endowed Scholarship Fund
A gift that creates a named, endowed scholarship is a lasting way to build a legacy and demonstrate your appreciation for the graduates of the Bethel School District. An endowed scholarship will continue to generate support for students in perpetuity.
- A named scholarship may honor the donor, a faculty member, a mentor, or a loved one. You may establish a named endowed scholarship containing award preferences with a gift of $20,000 or more. A $20,000 endowed scholarship, which may be paid over up to five years, initially will yield $500+ in awards under the current policy at the Greater Tacoma Community Foundation.
- All funds are invested in the Greater Tacoma Community Foundation.
- All endowment funds are protected from creditors.
Bequests are a crucial factor in building a secure financial base for BEST. Over the years, bequests have provided significant support to students. Many donors designate their bequests for scholarships and combine lifetime gifts with a bequest provision so they can experience and enjoy the fruits of their gift.
For more information about creating an endowed scholarship, contact BEST, your local Dollars for Scholars chapter.
Bethel Educational Scholarship Team
PO Box 742
Graham WA 98338
360-832-2451
Who is the Greater Tacoma Community Foundation?
The Greater Tacoma Community Foundation is a philanthropic organization and trusted partner with the Pierce County community, fostering generosity by connecting people who care with causes that matter.
By leveraging community funds, the Community Foundation provides effective, long-term social investment strategies to donors and people of Pierce County in order to address emerging issues facing the community. Building a safe, vibrant, engaged community is central to the mission of the Community Foundation.
The Community Foundation awarded over $2.8 million in grants and scholarship during FY2011. Over the last 30 years, the Community Foundation has distributed more than $84 million in grants and currently manages $83 million in assets.
"We are proud to partner with BEST and admire their work to help increase access to a post-secondary education for our community's youth." -Amanda Akers, GTCF
For more information, visit www.gtcf.org.
Questions about writing wills
1. Why should I make a will?
A will allows you to state how you want your property (estate) distributed; name an executor to distribute your property; pay off debts and taxes; name a guardian for your minor children, an incapacitated spouse, or an adult child who needs care; provide for your favorite charity; set up trust funds; and handle other business affairs to settle your estate.
2. Does a will distribute all of my property?
Certain assets pass outside of the will. For example, assets owned jointly by two persons with rights of survivorship will pass directly to the surviving owner. Life insurance, IRAs, and pension plan proceeds go directly to the named beneficiary. Property placed in a trust, such as a living trust, during your lifetime, is controlled by the provisions of the trust, not the will.
3. If I have a living trust, do I still need a will?
Yes, the living trust provisions pertain to assets placed in the trust, but the will controls other assets that have not been placed in the trust, such as furniture, household furnishings, clothing, and other types of personal property.
4. How can I change my will or living trust after it has been signed?
First of all, never cross out a sentence or words, or make notes on the will or trust. To change the will, your attorney will prepare a "codicil", which is an amendment to your will, or if many changes are desired, your attorney may draft a new will. A living trust is changed by your attorney drafting an amendment to the trust. A codicil or amendment must be signed and witnessed following the same formalities that were used in the signing of the will or living trust.
If supporting your local community is important to you, we strongly urge you to consider BEST, your local Dollars for Scholars organization, when writing and updating your will.
