Bequests

A residual bequest comes to us after your estate expenses and specific bequests are paid: 

I give to Mother McAuley Liberal Arts high School, currently located in Chicago, Illinois (EIN 36-2345207), all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general purposes (or for the support of a specific fund or program).

Naming Mother McAuley as a beneficiary of a specific amount from your estate is easy: 

I give to Mother McAuley Liberal Arts high School, currently located in Chicago, Illinois (EIN 36-2345207), the sum of $___________ to be used for its general purposes (or for the support of a specific fund or program). 

Mother McAuley can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled: 

If (insert name) is not living at the time of my demise, I give to Mother McAuley Liberal Arts High School, currently located in Chicago, Illinois (EIN 36-2345207), the sum of $ ________ (or all or a percentage of the residue of my estate) to be used for its general purposes (or for the support of a specific fund or program). 

You can add a bequest without rewriting your will by simply adding a codicil: 

I, {full name}, a resident of {City, State}, having made my Last Will and Testament dated____________________, do hereby make this Codicil to said Will. 

I hereby amend Article __________________ of my will by giving to Mother McAuley Liberal Arts High School, currently located in Chicago, Illinois (EIN 36-2345207) [the residue of my estate] OR [_______% of my estate] OR [the sum of ______________ dollars] and accordingly: 

(Repeat and revise article in your will which you are changing.) 

In witness whereof, I hereunto set my hand and seal this ___ day of ____ (month), 20 __. 

(Signature) 

The foregoing was subscribed and sealed by the above named person in our presence and at the same time published, declared, and acknowledged by such person to us to be a Codicil to such person's Last Will and Testament dated ______, this ____ day of ____ (month), 20 ____. 

Witness _______________________________ Residing at ________________________ 

(Signature) 

Witness _______________________________ Residing at ________________________ 

(Signature) 

You may name Mother McAuley as a beneficiary of your IRA or other qualified retirement benefits. Consult with your advisor to determine the benefits you would derive from such a gift.

Naming Mother McAuley as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish your charitable goals while potentially giving your estate significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Mother McAuley as a beneficiary of a retirement plan, you maintain complete control over the asset while living, but at death the plan goes to Mother McAuley free of both estate and income taxes. 

You can make a charitable gift from your retirement plan by entering Mother McAuley 's name on the Change of Beneficiary form, available from your plan administrator. 

Please let us know when you make your gift so we can thank you. 

If you wish to make a legacy gift, we would be pleased to work with you and your advisor to determine the gift that best suits your situation and interests. Please contact Peggy Rourke, Vice President of Institutional Advancement, at (773) 881-6547 or prourke@mothermcauley.org