Our goal at Marian High School is to provide the best Catholic college preparatory education possible to young women from all economic backgrounds. With the cost of tuition expected to continue to increase well into the future, one of our major concerns is that we maintain the quality of a Marian education without losing students from middle and lower income families.
The future of Catholic education in general and Marian High School in particular will be determined by the generosity of benefactors who include Catholic schools such as Marian in their estate plans.
The 1959 Society
Members of The 1959 Society are alumnae and friends of Marian High School who have included Marian in their wills and estate plans. Their foresight and generosity will ensure that Marian’s mission as a Catholic school of educational excellence continues.
How can you ensure Marian High School’s future and become a member of The 1959 Society? We invite you to consider including Marian in your estate plan. Of course, we recommend that you talk with your attorney or tax consultant before you make any decision in this matter.
Ways to Make an Estate Gift
Bequests are the most common estate gifts and are important to the future of Marian High School. While there is no immediate tax advantage, such a gift to Marian High School can help reduce your estate taxes. We offer the following bequest language for your consideration:
“I, ___________ (name), hereby bequeath Marian High School (__% of my estate) or (__% of the remainder of my estate) or ($_______) to be used for its general purposes.”
The above language is an example of an unrestricted bequest since the assets can be used where needed at the time.
Two different ways to help Marian through a life insurance policy are possible; each offers an attractive method for making a substantial contribution to the school.
The first method is to make a lifetime gift of an insurance policy to the school, which generates a charitable tax deduction for the year in which it is given if Marian High School is named owner and beneficiary of the policy. The deduction is roughly equal to the policy’s cash surrender value. Subsequent premium payments are also deductible.
The second method is simply to name the school as beneficiary of a new or existing policy. The school can be the lone beneficiary or one of several named in the policy.
Life income gift
Life income gifts offer many advantages including paying a secure income for life, professional management of assets at no cost, and significant reduction in taxes. The donor’s circumstances will determine which life income plan is best. In each instance, Marian High School would receive the remaining principal of the annuity or trust following the death of the donor.
Gift annuities – Through the gift of cash or securities, you can purchase a gift annuity that will pay you a fixed amount of annual income for the rest of your life. Payments can begin immediately or be timed to coincide with your retirement planning.
Unitrust – The unitrust arrangement provides you with an annual return of a stated percentage of the trust assets. You can fund a unitrust with cash, securities, or other property, such as real estate. The principal may be invested in securities that pay tax exempt income, an attractive feature to donors in high tax brackets.
Annuity trust – This trust provides you with a fixed dollar annual return. The principal advantage of the annuity trust is that it provides predictable income each year regardless of any fluctuations in the earnings of the portfolio.
If you would like more information, please consult your attorney or financial adviser. For information on The 1959 Society, please call Lorry Ashe Kempf, Vice President of Advancement, at (248) 644-1946 or (866) 903-7269.