Gifts in Wills and Trusts
One of the simplest ways to provide an enduring gift in support of Labouré is through your will or Revocable Living Trust. By including Labouré in your estate plans, you can specify that some or all of your assets come to Labouré after your lifetime. At that time, the asset(s) you specify will pass to us, and your estate can take a charitable deduction for the amount of your bequest, thereby reducing the estate tax payable.
Types of requests and sample wording
There are several types of bequests that allow you to designate how your estate will be distributed:
A specific bequest is a provision in your will that allows you to leave a specific amount or specific asset to Labouré, such as an outright gift of cash, stock, or other property. An example of a provision that could be included in your will would be: “I bequeath to Labouré the sum of $_______ (or____% of my estate; or the property described herein) for Labouré’s general purposes.”
A residuary bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid. For example, you could provide that certain family members receive a certain portion of your estate, and that debts, expenses and taxes must be paid, and you could also provide that: I give all the rest, residue and remainder of my estate to Labouré for its general purposes.
A contingent bequest is made only if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation. An example of such a provision would be: “I give all the rest, residue and remainder of my real and personal estate to my husband, Robert, if he survives me; if he does not survive me then fifty percent (50%) of my estate shall be distributed to my children, then living, by representation and fifty percent (50%) to The Labouré Society for its general purposes.”
Such bequests may be included in any new will or trust that you put in place. Your estate planner may also draft a codicil to your existing will or an amendment to your existing trust to provide for a charitable contribution.
How to name Labouré in your will or trust
Leave a Legacy of Faith! Planned Giving Is For Everyone
Many Labouré supporters choose to leave a donation in their wills and trusts as an important way to have long-term impact, without any upfront cost during their lifetimes.
Making a will is one of the most impactful ways to extend your love and generosity to the causes and people you care about most. Legacy giving isn’t only for the wealthy — gifts of any size are deeply appreciated, and have come in sizes ranging from $100 to $1 million. Together, we can continue making an impact for years to come.
How it works:
1) Use this free tool to create your legal will online, or document your wishes and find an attorney near you.
2) Specify within your will the amount or percentage of your estate you’d like to leave (if any) to Labouré and other charity organizations.
3) Rest assured knowing you’ll be making positive change for generations to come.
If you’d prefer to go straight to an attorney to draft your will and you choose to leave a gift in your will, we suggest the following language and to advise us of your intentions:
“I bequeath (amount OR percentage) to The Labouré Society, a nonprofit corporation organized and existing under the laws of Minnesota, with the principal business address of 1365 Corporate Center Curve Suite 104, Eagan, MN 55127 and federal tax identification number 41-2001751.”
Life Income Gifts
A Life Income Gift is a highly effective way to contribute assets to Labouré, while allowing you to keep an income for yourself and others for the remainder of your life, their lives or a fixed term of years. To create a Life Income Gift, you make an irrevocable gift of cash, securities, or real estate to Labouré, and in return, receive an income (fixed or variable, depending on the option you choose). After your lifetime and/or the lifetime(s) of other designated beneficiaries, the remaining balance of your gift would be used to support Labouré. Your age, assets and income objectives will help you determine the best type of Life Income Gift. If you are interested in learning more about a Life Income Gift please contact us for details and we will be happy to have out estate planning consultant work with your tax advisor or attorney.
Gifts to Labouré are non-refundable.