Planned Giving is one of the ways to make the most impact on the students of Junipero Serra High School. Leaving a legacy gift or bequest in your will or trust, ensures your critical role in the continued excellence of Junipero Serra High School. Your legacy gift may be directed to contribute to specific areas of need, such as tuition assistance or the creation of an endowment. If you would like to make a more specific gift, please talk to us so we can help ensure your wishes can be carried out as you intend.
There are many creative ways to make a long-term impact on Junipero Serra High School. You are not limited to monetary donations. Gifts of real estate, stocks, 401(k) proceeds or even life insurance are all viable options.
As Planned Giving is a specialized area, we suggest that you speak to a qualified legal or financial adviser. If you don’t have a qualified adviser, we would be happy to provide you with the name of a professional willing to help you.
Your generous gift will make a positive impact and a lasting difference in the lives of our students, both in the present and in the future.The information below is provided as an introduction to the various methods to leave a lasting legacy to Junipero Serra High School. A sound estate plan, which includes a planned giving provision, can provide income as well as tax advantages.
Wills and Living Trusts
By including Junipero Serra High School in your will or living trust, you can make an important and lasting gift for future Cavaliers while meeting your financial and estate planning goals. A bequest can take many forms, and because a bequest qualifies for the estate tax charitable deduction, it may reduce your taxable estate.
Common types of bequests:
General: “I give to the Archiocese of Los Angeles for Junipero Serra High School, a 501(c)(3) headquartered at 14830 S. Van Ness Avenue Gardena, CA 90249 the sum of __________ dollars (or specific piece of property) to be used as the Development Director directs."
Bequest of a percentage: “I give and bequeath __________ percent (name specific percentage) of my estate to the Archiocese of Los Angeles for Junipero Serra High School, headquartered at 14830 S. Van Ness Avenue Gardena, CA 90249.”
Bequest of residue: This is a provision in a will leaving the remainder of one’s estate to an organization after all other bequests are fulfilled. “The rest, residue and remainder of my estate, both real and personal, whatever situation, I give and bequeath to the Archiocese of Los Angeles for Junipero Serra High School, headquartered at 14830 S. Van Ness Avenue Gardena, CA 90249.”
Contingent bequest: This leaves a bequest to Junipero Serra High School if any of the other beneficiaries are unable to receive their bequests because of death or other circumstances. Generally this reads:
“Should (name of person) predecease me, the portion of my estate going to (this person) I give and bequeath to the Archiocese of Los Angeles for Junipero Serra High School, headquartered at 14830 S. Van Ness Avenue Gardena, CA 90249.“
To leave a gift from a Living Trust, write:
“I direct my trustee to distribute from the principal of my trust estate to: the Archiocese of Los Angeles for Junipero Serra High School, headquartered at 14830 S. Van Ness Avenue Gardena, CA 90249.” The sum of _________ dollars (or, if stock, land or other property, please describe). “
Retirement Plan Assets
Your IRA, 40 l (k), 403(b) or other qualified retirement plan may be heavily taxed if left to anyone other than a legally recognized spouse. By naming Junipero Serra High School as a beneficiary of all or a portion of a retirement plan, you avoid both the estate tax and income tax due on these tax-deferred plans if you distributed to your heirs.
If you have a life insurance policy you no longer need, you may consider transferring ownership to Junipero Serra High School. You may also purchase a new policy and later name Junipero Serra High School as the owner and beneficiary. Either gift generates a charitable income tax deduction. The payment of premiums on behalf of Junipero Serra will also enable you to claim income tax charitable deductions.
Charitable Remainder Unitrust
With this instrument of planned giving, you could potentially and irrevocably transfer money, stock certificates, personal or real property to a trustee who then pays you, and possibly others, income for life or for a period of years as determined by you at the time the assets are transferred. Then you and/or other income recipients (people and/or organizations) receive annual payments from the trust based on a fixed percentage selected by you and applied to the market value of the assets as determined each year. This means that the income will vary from year to year.
Charitable Remainder Annuity Trust
This instrument performs in much the same way as a Charitable Remainder Unitrust, with two important differences. The annual income the recipient receives as a result of such a charitable gift will always be the same regardless of the changing annual value of the assets. Once assets are placed in this type of trust, you may not add to the trust capital to provide for a greater charitable deduction. The charitable remainder annuity trust may place you in a position of greater financial security because it fixes the amount of income paid annually regardless of market conditions.
Charitable Gift Annuity
The charitable gift annuity is a contract between you and a nonprofit organization whereby the organization promises to pay a certain amount of money each year in exchange for a gift of property.
Charitable Lead Trust
The income from this type of trust is directed to a charitable organization for some period of years, often 10 years or more. At the end of the stated number of years, the trust becomes the property of the individuals named by you, such as children or others, or it can revert to you. The lead trust differs from the unitrust or annuity trust in that the charitable organization receives the income from the trust during the trust period rather than receiving the trust corpus at the end of the trust period.
Junipero Serra High School’s Legal Designation
The following information should be included to name Junipero Serra High School in your will, trust or other planned gift:
For additional information about including a gift to Junipero Serra High School in your estate plans, please contact:
Joe Cormier ‘81
Director of Development
(310) 324-6675 Ext. 1017