A deferred gift is one that will be received by Saint Mary’s in the future.
Examples of deferred gifts include bequests through a will or trust and gifts directed through financial asset beneficiary designation.
A bequest is naming a recipient, like Saint Mary’s School, as a full or partial beneficiary in a will or trust. A will or trust ensures that a person’s intentions are clearly expressed and will be followed by an estate administrator.
A trust provides for the distribution of assets without the usual probate administration requirements.
■ Specific bequests are usually a stated dollar amount. Specific bequests can also be a gift of stocks or bonds, real estate, or tangible personal property.
■ Residual bequests designate a percentage of the remainder of an estate after specific bequests have been fulfilled.
Bequests in a will or living trust are revocable, allowing donors to maintain control and use of their assets during their lifetime.
A bequest may also reduce a donor’s estate tax liability.
Click here to notify us of your bequest.