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Planned Giving
Why Have a Will?
The Easiest Way to Make an Impact
Regardless of your life circumstances or estate size, your will is perhaps the most important document you will create. It expresses your values and also effectively provides for the people and charitable causes important to you. If you’ve been putting it off, here are eight important reminders why you need a will. 1. Without a will, your state’s laws – not you – determine how, when and to whom your property is distributed. 2. You can reduce (or maybe even eliminate) future estate taxes. 3. You can name your executor (a person, bank or trust company you choose to personally represent you) to manage and settle your estate. 4. You can designate beneficiaries for items such as heirlooms, art, jewelry or real estate. 5. You may create trusts to provide for your spouse, children and others. 6. Through a “pour-over” will, you can transfer leftover assets to your living trust. 7. You can support Mercy High School Burlingame our organization through a gift in your will, which is simple, flexible and revocable at any time. 8. You can designate the guardian for dependents under your care.
Important Reminder: If you already have a will, make sure it’s up-to-date. Life changes such as grown kids; births, deaths or marriages; increased estate value; or a move to another state should be a trigger to meet with your estate planning attorney to review your will.
Step by Step: How to Create Your Will • List all of your major assets. • Decide which individuals or organizations you want to receive specific possessions or a share of your assets. • Contact an attorney who specializes in estate planning. • Determine who will be your executor. • Have your attorney draft your will. • Sign and date it before witnesses. (In some states, it must be notarized to be valid.) • Keep it in a safe place and make sure others know where it is and have access to it. To learn more about the importance of your will and other gift planning information, visit our website at http://mercyhsb.planmylegacy.org/ The website breaks information down for all ages, under 40 to 70+ and can help you get started no matter your stage of life.
F or more information contact Mary Lund, Director of Advancement at 650-762-1190 or mlund@mercyhsb.com
Catherine’s Legacy If you have made provisions for Mercy in your estate plan (with bequests, charitable trusts, gifts of life insurance or retirement funds), you can become a member of Mercy’s Catherine Legacy Society. Please notify the Advancement Department at 650.762.1190 or Mary Lund at mlund@mercyhsb.com.
© The Stelter Company. The information in this publication is not intended as legal or tax advice.
A gift of education - a gift for a lifetime
MERCY PARENTS ESTABLISH ENDOWMENT TO HONOR THEIR DAUGHTER Sophia Danica Espanola ’06 Max Ramos and Cherryl Geluz wanted to honor their daughter Sophia through the establishment of an endowment in her name.
This scholarship will be used as financial assistance with tuition for an incoming freshmen beginning with the 2018 school year. The recipient will be a girl who has demonstrated a genuine interest in attending Mercy and who has exhibited qualities that show she would benefit from the spirit of a Mercy education. These demonstrated qualities include academic promise, intellectual curiosity, leadership, humility and kindness: qualities embodied by Sophia.
THE VORSATZ FAMILY AWARD In Loving Memory of Arica Vorsatz ’00 This endowment was established by Alison Vorsatz ’98, in loving memory of her sister Arica ’00. The awardees for this endowment are nominated by the faculty and staff.
The recipient will be a Mercy Sophomore who has exhibited qualities that shows she embodies the spirit of a Mercy education and the spirit of Arica Vorsatz. These demonstrated qualities should include leadership, a passion for helping others, ambition, work ethic, and a desire to make the world a better place. With her confidence and strength, Arica was a woman who made a lasting impression when she walked into a room, and the young woman who receives this honor each year should be the kind of woman that you will never forget!
As part of the scholarship, the student will have an opportunity to create a lifelong mentoring relationship with Arica’s older sister, Alison Vorsatz ‘98. Alison will be invested in helping this special recipient and mentoring her, as well as serving as a resource to help her achieve her goals. The first recipient of this scholarship is Jordyn Eleazar ’19, she was awarded the scholarship in May 2017 for her junior year tuition.
How do I start an endowment fund? It’s easy. A named endowment fund may be established in memory or honor of a particular person or persons. First, contact Mercy’s Development Office. Any amount can begin a scholarship as long as there is a signed commitment that the fund will reach $25,000 within five years. Donors complete an agreement with the school regarding the naming of the scholarship as well as any specific criteria for awarding the scholarship.
