Planned Giving simply means a financial gift that takes planning and careful consideration, usually done through your Will or estate plan. Bequests are the most common form of a planned gift.*
Bequests and Membership in the Sister Bernadette Vetter H.M. Society
Named after the founding principal of Magnificat, the Sister Bernadette Vetter H.M. Society recognizes friends who have thoughtfully made a bequest to Magnificat High School when planning their Will or estate plan. If you have made provisions for Magnificat in your plans, please let us know so that Magnificat can appropriately recognize your generosity in our Annual Report and Honor Roll of Donors. Your gift is a witness to others!
Remembering the Magnificat mission in your Will helps to ensure the longevity of an exemplary Catholic education for young women. A Bequest is simply a codicil placed in your Will that names a specific amount, a percentage of your estate, or the residual after all debts, taxes expenses and other gifts are paid that you would like donated to Magnificat High School. Your estate planning attorney can help you with the best language to fit your plans and intent.
Other forms of Planned Gifts:
There are other forms of planned gifts about which you may be interested and plan with your financial advisor, including:
- A Charitable Gift Annuity allows you to make a meaningful gift while still receiving income and tax benefits that can enhance your future financial well-being. Under the terms of a gift annuity, you can make a charitable gift of cash or other property. You and/or others, if you desire, then receive fixed payments for life from the gift with the residual amount going to Magnificat High School.
- A Charitable Remainder Trust provides a stream of income to you for either your lifetime or a term of years. At the end of the specified term, the assets in the trust will then be devoted to the mission of Magnificat. A Gift of Stock or Securities benefits Magnificat and allows the giver to claim a charitable contribution deduction. You would not have to report the appreciation as capital gain income on taxes.
- A Transfer of Retirement Plans or IRAs can be discussed with your financial advisor, with benefits to you tax-wise.
If you would like more information about a planned gift opportunity, please contact Mary Lou Toler '84, Director of Advancement at 440-331-7227 ext. 255 or by email at mltoler@magnificaths.org.
*The information on this page is not intended as legal, tax or investment advice.
For such advice, Magnificat recommends that you consult an attorney,
tax professional or investment professional.
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