Four Ways to Make a Charitable Bequest
Making a bequest to Holy Names High School is not only a gift of benevolence, it’s the mark of savvy estate planning. There are many unique ways to make a gift in your will that can produce remarkable tax-saving benefits for your estate. More importantly, your bequest will become an enduring testimonial of your desire to help shape the future for HNHS.
By making an unrestricted gift, you allow us to apply the funds to our most pressing needs. You simply bequeath to Holy Names a given sum of money or other asset. For those of you who wish to do so, the following is suggested: I hereby give, devise and bequeath the sum of _____ dollars (or property legally described) to Holy Names High School, a corporation organized under the laws of the State of California.
Percentage or Residue
You may choose to leave us a percentage of your estate or the balance remaining after bequests made to your other heirs. A percentage will adjust for any substantial change in the value of your estate.
Trust for Spouse
By means of your will you may want to place some or the entire residue of your estate under the management of a trustee for the benefit of your spouse in a “QTIP” trust. This special trust for surviving spouses stipulates your spouse is to receive the trust income, together with principal advances if necessary for his or her support for life. At your spouse’s death, all or part of the trust remainder will be distributed to us.
Life Income Plans
A charitable remainder trust provides that we or another trustee are to hold and invest a principal amount and pay an income amount or a percentage to a named beneficiary or beneficiaries for life or a term of years. After that, the remainder is distributed to us. There are several types of life income plans from which to choose. Aside from benefiting a charity, life income plans can provide you significant estate tax savings.