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Most of us have read the story or heard on the news
that Leona Helmsley, heir the Helmsley Hotel Chain,
who passed away in 2007 left her beloved white
Maltese dog, named
Trouble
a $12 million trust fund.
By the time the will was fully disclosed,
Trouble,
Helmsley’s dog, received more individually than
relatives or charities.
Of course, no one will ever understand what prompted
her decision, but one thing is certain, bequests and
memorials are powerful tools for giving and for
making a lasting impact in our family, church,
charity and beyond.
The Catholic Diocese of Pueblo Foundation is
specifically designed to administer and handle
bequests and memorials for parishioners throughout
the Diocese of Pueblo.
Memorials:
A memorial honors and preserves the memory of a
loved one through a contribution to your local
parish or the foundation. Memorials often originate
in wills, but can be made at any time.
You will often see memorials at the end of an
obituary, asking friends of the deceased to make a
contribution in their name to a favorite charity.
People often forget that their own local parish or
the diocese was an important part of their life, and
can be remembered in this way also.
The Foundation has the ability to create a fund in
that person’s name. The funds can be earmarked for a
specific purpose that honors their memory, such as
Catholic school education, educating young men for
the priesthood, or purchasing something the local
parish needs are all examples.
If the gift is used to establish an endowment the
interest will be generated indefinitely to honor
your family name or the name of the person you are
recognizing.
Bequests:
Bequests are gifts made though a will or living
trust. You can leave a specific asset (stocks,
artwork, etc.), a certain percentage of your estate
or the remainder of your estate after you have taken
care of the most important people in your life.
You may leave your estate unrestricted or designate
it for a specific use, similar to the Memorials
mentioned above. Any bequest provision can be
changed in your will or living trust during your
lifetime. You always have the option to create your
legacy exactly as you wish.
Bequests are simple, and provide you with a number
of ways to create a legacy that best defines
yourself, or family and their unique interests.
Bequests and Memorials each have tax benefits, and
tax laws vary by state. The Foundation can help you
sort through the benefits to secure the best giving
vehicle for you or your family.
It is doubtful any of us could afford to leave $12
million to our dog, but probably what we could
afford to leave to our church would make a lasting
impact to an institution that has been such an
important part of our life.
The trouble with
Trouble
is who will the dog decide to leave his money too
when he passes? Think of what a wonderful legacy
could have been left to a charitable institution if
“Trouble” only got $2 million for the rest of his
life?
A $10 million dollar opportunity missed. Don’t miss
your opportunity to create a lasting gift to your
faith and all the joy it has given you over a
lifetime.
For further information, you can contact Kathleen
Tillman, Executive Director of the Catholic Diocese
of Pueblo Foundation at 1-800-354-2729 ext. 131 (in
Pueblo at 1-719-544-9861, ext. 131). |
