A gift through your will to the Christian Brothers can be in any of three forms:
- a specific dollar amount or specific thing, such as a retirement account or real property (home, land, etc.);
- a percentage of your estate; or,
- the remainder of your estate after other bequests have been made.
When making a bequest to us in your will, the following language may be used:
“I hereby give (_____dollars) (_____percent of my estate) (a specific asset) or (the remainder of my estate) to the Christian Brothers of the Midwest, Inc., an Illinois not-for-profit corporation, for its general purposes.”
The Heritage Society recognizes those friends and benefactors who have included a gift to the Brothers in their will or estate plan. Please advise us if you have included a gift to the Christian Brothers in your estate planning.
A charitable trust can be a very effective means to remember the Brothers while receiving lifetime income or positioning an asset to benefit your children or grandchildren. Alumni and friends are able to name the Christian Brothers of the Midwest as beneficiary of a:
Charitable Remainder Unitrust
Charitable Remainder Annuity Trust
Charitable Lead Trust
A remainder interest in home or property involves the gifting of the asset to the charity, with the donor retaining the ability to use the asset for their remainder of their lifetime. The donor also retains the responsibility for the upkeep and normally maintenance of the property.
Gifts of appreciated stock, and charitable distributions from an IRA are gifts made now that are sometimes referred to as planned gifts.
Donors may choose to make a gift to the Brothers of a paid up life insurance policy (a whole life policy) by naming the Christian Brothers of the Midwest, Inc. as the beneficiary. Donors may name us as the beneficiary while continuing to make annual premium payments, which can be tax deductible.
The tax benefits from each of these planned gift vehicles can vary widely. We encourage you to consult with your financial advisor or call us for more information.
Contact Anthony Chimera, Director of Development, at 630.323.3725 if you would like to discuss any of these options in more detail.