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for alumni, parents and friends of Loyola Academy EASgift planning 0newsletter T 19 9

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Fall/Winter 2015

A Modern Man for All Seasons Joe Dahm Gives Back to His Loyola By Thomas J. Cramer

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n the days of yore, Joe Dahm might have been known as a man of letters. He certainly has a few of them after his name, B.A., M.A., R.Y.T. (registered yoga teacher). He is a passionate science teacher, sailing instructor and summer service chaperone at Loyola. Joe is a man for others who has embarked on different pursuits with the noble purpose of giving more than he has received. Joe was introduced to the Jesuits as an undergraduate at Xavier University in Cincinnati. It wasn’t long before Joe had a conversion experience where he first felt God’s love in his life. Since then, he has tried to follow up that experience by sharing his gifts with others. In 1980, Joe graduated with his bachelor’s in theology and took a job as one of the first house parents at Boys Hope in Evanston. One of his tasks was to drive the young men from Evanston to Loyola Academy. While doing this, Joe met Loyola faculty and staff and was immediately snatched up to teach theology. After taking time off to focus on family, Joe realized that what he enjoyed most in life was teaching. So he went back to school and got

his master’s degree. Along the way, he was introduced to another love in his life: science. Joe eventually returned to Loyola as a science teacher. He just completed his 20th year at the Academy. He particularly loves getting students excited about science. A Family Legacy Lives at Loyola Joe’s connection to Loyola continued to grow as three of his children graduated from Loyola. His son, Peter, graduated in 2010 and his daughters, Mary and Jane, graduated in 2011 and 2014, respectively. Continued on Page 2

Loyola Academy Science teacher Joe Dahm challenges students to find alternative fuel sources by setting an example. He uses leftover vegetable oil from our cafeteria to run his modified car. “We discuss in class our Catholic responsibility to be stewards of our natural resources, and one way to do that is to use an alternative fuel.” Joe is also a steward of Loyola Academy and has set aside a gift to Loyola in his will.


Clockwise from top left: A service trip to West Virginia • Peter ’10, Joanne, Joe, Mary ’11, Jane ’14 • Mary’s graduation

Continued from Page 1

Get Expert Help When you’re reviewing your plans, we recommend that you seek the help of an estate planning attorney. Our FREE guide The Top 6 Questions to Ask Your Estate Planning Attorney will help you collect your thoughts before you meet and make the most of your time together. Return the enclosed reply card to receive your copy.

Not one to rest on his laurels, Joe continues to guide Loyola juniors on their summer service trips around the world. This summer Joe drove a group of students to West Virginia to study the life and history of the area. Joe also spent countless hours working for an orphanage in Toledo City in the Philippines. Starting a Legacy of Giving By including Loyola Academy in his estate, Joe has joined the Loyola Academy Dumbach Society. Joe and his wife, Joanne, have set aside $10,000 in their will, also known as a bequest, to benefit our school. “I always wanted to give something to Loyola in terms of my will. Who knows how much I will ultimately give but it’s a starting point. I’m very blessed by my work at Loyola but also because my wife has been successful in her career as well. We both agree that we wanted to give back to Loyola. The school has done so much for me and for our children. So in this small way, I feel I am doing something for the school.”

Joe relates his generous bequest gift to his experience with yoga. “The word yoga stands for union,” he explains. “A yoga practitioner strives for the union of the personal self with the larger self.” Doing something for the school often means doing something for the world. Joe is currently rallying Loyola Academy Ramblers to join him in supporting a refugee family in the Middle East. He has challenged his students to abstain from buying coffee or soft drinks and directing the savings to a relief agency that will help a family relocate in Chicago. With Joe, the mission of Loyola Academy is, now and forever, in very good hands!

Join Joe in creating an eternal legacy of service to others with a planned gift benefiting Loyola Academy. Fill out and return the enclosed reply card to request more information on planning a gift to the Academy today.

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A Little Goes a Long Way Make a Significant Impact on Loyola Students With a Percentage of Your Estate

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ne of the easiest ways to support Loyola Academy is to leave us a percentage of your estate. It’s not only easy, but it also gives you choices.

You can choose to dedicate a percentage of the entire estate. Or if you want to ensure that your donation will remain proportionate to your estate size, you can dedicate a percentage of the residual. Either way, both will have a positive impact on our students. Include a gift in your will or trust. By putting aside a percentage of the assets in your will or trust—from 1 to 100 percent—you can leave a legacy while making sure your family has the security they may need in the future.

To make this type of gift, simply contact the administrator of your retirement account or insurance company for a change-of-beneficiary form today. Now Is the Time It’s never too early—or too late—to craft your legacy. Take control of how your assets will be distributed by meeting with your estate planning attorney today.

We are here to help if you have any questions about extending your impact into the future. Please feel Name us as partial beneficiary of your retirement free to contact Tom Cramer, principal gifts officer plan assets or life insurance. By dividing up your assets in and director of planned giving, at tcramer@loy.org or percentages, you can benefit loved ones and the Academy. 847.920.2431 today.

Let Us Know If you have already included a gift to the Academy in your estate plans, please notify us by returning the enclosed reply card. That way we can ensure that your gift will be used exactly as you intend. Plus, it would be our honor to thank you for your gift.

anmylegacy.org


Assemble a 5-Star Estate Planning Team Below are five key players you want on your estate planning team:

Estate Planning Attorney

CPA/Financial Advisor

Your attorney may recommend the following estate planning documents: • Will • Trust • Powers of attorney • Living will

Your advisor reviews complex tax issues relating to income, estate, gift and capital gains while identifying ways to save for and fund your retirement.

Trust Officer

Gift Planning Officer

Assists with any trusts in your plan that are created now (e.g., a revocable living trust) or at the end of your life for your spouse, children or other loved ones.

A gift planning officer can work with your estate planning team to develop the best gift plan to meet your needs and ours.

Insurance Professional An insurance agent will review the amount of life insurance needed to provide for your loved one’s needs.

Recruiting outside help is a smart move when it comes to putting together a solid estate plan. Consulting with a five-star estate planning team can save you and your loved ones money and heartache in the long run.

3 Simple Actions You Can Take Today 1

2

3

Visit goramblers.planmylegacy.org

Return the enclosed reply card to get

Contact Tom Cramer, principal gifts

to browse the many different tax-smart

your FREE guide The Top 6 Questions to

officer and director of planned giving,

ways you can help our students.

Ask Your Estate Planning Attorney.

if you’d like to walk through your giving options in person and at no obligation. We would be happy to help you.

S E CO ND CE NT U RY OF E X C E L L E N C E IN JESU IT EDU CATION

Our Mission 1100 Laramie Avenue

Wilmette, IL 60091-1089

847.920.2431

Thomas J. Cramer, Principal Gifts Officer and Director of Planned Giving tcramer@loy.org

goramblers.planmylegacy.org

© Loyola Academy and The Stelter Company | The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

To form young women and men for meaningful lives of leadership and service in imitation of Jesus Christ through a college preparatory education in the Jesuit, Catholic tradition


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Make an Informed Decision

Please complete and return this questionnaire in the enclosed envelope today. Thank you!

❏ I would like to receive a copy of the FREE guide The Top 6 Questions to Ask Your Estate Planning Attorney.

❏ I would like more information on how to support Loyola Academy after my lifetime. ❏ I have included a gift to Loyola Academy in my will or other estate plans. ❏ I have enclosed a gift of: ❏ $500 ❏ $200 ❏ $100 ❏ $25 ❏ Other $______________ . Thank you for supporting our students!

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Fall/Winter 2015

We respect your privacy! Information collected here will be kept strictly confidential. It will not be sold, rented, loaned or otherwise disclosed, and it will not be used in ways to which you have not consented.


Meeting With Your Attorney

Get Organized First When you complete these important estate planning steps, you’ll be able to make important decisions on your own time, not when you’re on the spot (and possibly paying by the hour). Use the checklist below to help ensure that your attorney understands your specific situation and goals.

The Top 6 Questions to Ask Your Estate Planning Attorney

T O N N A C Y D P E CO ALTER BE

Inventory your assets and liabilities.

� List the approximate value, account number,

Identify your goals and priorities.

» Taking care of family and loved ones

location and contact information for all

» Minimizing estate taxes

bank accounts, certificates of deposit,

» Maximizing assets left to heirs

brokerage accounts, mutual funds and

» Increasing income from assets

retirement accounts.

» Supporting charitable causes, such as ours

� Describe and identify other assets such as life

» Making provisions for your medical care in

insurance, real estate and business interests.

the event that you become unable to make

Also state the location of the policies, deeds

decisions yourself

or business agreements and the approximate value of the assets.

� Include a list describing valuable personal property and their values.

Once you have completed these steps, your attorney can more easily assist you in creating an

Thomas J. Cramer Principal Gifts Officer and Director of Planned Giving 1100 Laramie Avenue Wilmette, IL 60091-1089 847.920.2431

estate plan that suits your needs.

� Indicate mortgages or loans, if any, and list the approximate amount of the debt and the name and address of the lender. � Specify anything that you would like to leave to a particular person so you can include that provision in your estate plan.

INB35-I

If you are interested in using your estate plan to make a gift to our organization, please contact us today to learn more.

goramblers.planmylegacy.org

E printed on recycled paper The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.


Your Talking Points

Did You Know?

for Estate Planning Success

In addition to providing you with peace of mind that comes from having your plans in order, your estate plan provides a flexible way to help change lives at our organization.

A qualified estate planning attorney can help you minimize taxes, protect your assets, and find the best ways to provide for your

will. Be sure to address these assets as part

favorite people and the organizations that you cherish. To get your estate plan off on the right foot, here is a list of short questions to discuss with your estate planning attorney.

1

of your overall estate plan.

4

6

What medical decisions do I need to consider in my estate plan? Living wills and medical powers of attorney are

How much would my spouse and

documents that deal with health-related issues,

children inherit if I died today?

not financial ones. A living will typically states

D E R E T

Of utmost concern is ensuring that your spouse

whether you desire life-sustaining treatments

Does my will need to be updated?

if needed, from the trust during your lifetime

and loved ones have enough money after you

if you are terminally ill or in a persistent

If you have not reviewed your will in over

to meet your needs. If you later change your

are gone. Although assets left to your spouse

vegetative state. A medical power of attorney is

a year, now may be a great time to see if

mind, the trust can easily be amended to

pass free of federal estate taxes, the amount

much broader than a living will and allows you

any adjustments need to be made. In many

accommodate changes.

your children will inherit can be diminished

to name someone to make medical decisions

by estate taxes.

for you if you become unable to do so yourself.

L A E B T O N N A C 2 Y P 5 CO 3 cases, your personal circumstances may

You typically appoint yourself as trustee,

have changed since your will was written.

but you can appoint a trusted friend,

It is recommended that your will be

professional advisor or bank trust department

tax threshold, you need to estimate the potential

reviewed every couple of years or when

as your trustee or a successor trustee.

taxes on your estate and implement tax-saving

major life events have occurred.

What is probate?

Should I consider a living trust?

The process of proving in court that

You can establish a revocable trust while

a will of a person who has died is valid.

If your estate is worth more than the estate

strategies so you can pass as much as possible to your loved ones and the charitable causes of your choice instead of to the IRS.

Do I need a durable power of attorney?

you are living to manage your assets. This

Contact Us We’re happy to help you start the

tool is often used as a way to avoid probate.

Are my beneficiary designations in line

A durable power of attorney is a staple of any

planning process or answer any

Your attorney will prepare the necessary

with my overall estate plan?

solid estate plan. This document allows you to

questions you have.

documents for you. He or she can then advise

Life insurance policies, commercial annuities,

name someone else to make financial decisions

you on which assets to put in your trust and

IRAs or other retirement plans are not controlled

for you, such as paying bills or selling your

help you title the assets in the name of the

by the terms of your will. Instead, they pass

home, should you become incapacitated and

trust. You can use the income, or principal

directly to a named beneficiary outside your

unable to make them yourself.

INB35-I Š The Stelter Company

Thomas J. Cramer Principal Gifts Officer and Director of Planned Giving Loyola Academy 847.920.2431 tcramer@loy.org

Loyola Legacy  

Fall/Winter 2015

Loyola Legacy  

Fall/Winter 2015