Gifts By Bequest or Beneficiary

The following information pertain to “Gifts by Bequest or Beneficiary”. Please see the details below for each.

Bequests

There are three types of bequests available.

• • • A specific bequest will name a specific asset to be left to Cardinal Mooney High School, such as certain stocks, bonds, a cash amount, real estate or collectible items.
    • A percentage bequest names a percentage of the entire estate.
    • A residuary bequest is a bequest of assets from the estate not named in other parts of the will.

Each donor is encouraged to create a set of instructions for the Advancement Office and Cardinal Mooney High School as to how the funds resulting from the bequest should be used. This will avoid any confusion among family members, the Advancement Office and Cardinal Mooney High School as to which programs were meant to be supported by your gift.

Some donors may wish to express his/her purpose for the gift directly in their will. However, in the event that a donor chooses to make changes at a future date, the will has to be amended. This can incur significant legal expenses for a donor.

By creating an agreement directly with Cardinal Mooney High School, complications can be avoided as changes to this document can be made without expense to a donor. It is also to the donor’s advantage to confirm that the gift can be accepted and distributed according to their will ahead of time.

As always, all such documents are considered confidential by the Advancement Office and Cardinal Mooney High School, unless otherwise specified by the donor.

Beneficiary Forms

Designating Cardinal Mooney High School as the beneficiary of retirement plans, bank and brokerage accounts or other assets is another option on how you can generously suuport the school.