The Four Pillars Society
As part of the Order of Preachers, the Adrian Dominican Sisters strive to live out and preach the Gospel through the Dominican pillars of prayer, ministry, community and study. These four pillars are central to the Dominican tradition and ingrained in the mission of Regina Dominican High School. Joining the Four Pillars society with a bequest to Regina Dominican High School is a powerful expression of your faith in the future of the school and the young women it educates. A planned gift provides significant future support for Regina Dominican and the full value of the bequest is deductible for federal estate tax purposes.
Bequests
There are many ways to make a planned gift. To make a bequest, simply include the following language in your will or trust:
"I hereby give Regina Dominican High School, a non-profit educational corporation located in Wilmette, Illinois, (________ dollars) (a specific asset) or (_______ percent of the residue of my estate), to be used for (its general purpose) or (state specific purpose)."
With a bequest you can make a gift of a certain dollar amount, a specific asset or a percentage of your estate. Your bequest can be designated for general use or you may restrict your bequest to be used for a specific purpose. There are many other ways to make a panned gift to Regina Dominican, including through a life insurance policy or qualified retirement plans.
Life Insurance Gifts
A gift of life insurance may be done in several ways. You may take out a new or change an existing life insurance policy and name Regina Dominican High School as the beneficiary or the co-beneficiary. You may also name Regina Dominican as the owner of the policy for which you can claim an income tax deduction for the cash surrender value.
Qualified Retirement Accounts
Assets in a qualified retirement account can be designated to Regina Dominican High School. These donated assets are tax deductible to the estate and may help minimize the taxes due on retirement plan assets. Please consult your tax advisor or financial planner for all the benefits of making charitable gifts through your retirement account.
Charitable Lead Trust
A charitable lead trust is a trust that is set up so that the earned income or interest from it is donated to Regina Dominican for a set amount of time. There is a tax benefit to the donor only on the income that is generated by the investment and given to the school.
Charitable Remainder Trust
A charitable remainder trust is much like the lead trust except that the investment is designated to Regina Dominican and the income or interest is paid out to the donor or beneficiary named by the donor for a set amount of time. After the set period of time the remainder of the trust is fully transferred to the school. The donor receives an immediate tax benefit of the assets in the remainder trust.
Please contact Kerrigan McNulty with any questions you might have about planned giving.
[email protected] or 847-256-7660 ext. 224