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| LIFETIME GIFTS |
| If
your client wishes to establish a new named Fund in the West
Virginia Catholic Foundation, Inc., during his or her lifetime,
attorneys for the Foundation will prepare for your approval
a trust agreement to meet the desires of the donor. The donor
will name the Fund, select the type of Fund, suggest a trustee
bank, determine the property to be given and add other specific
details as to the distributions from the Fund. Over the years,
the Foundation has developed simplified form trust agreements
to carry out these purposes, and a document can be written to
conform precisely to your client's charitable interests. |
| BEQUESTS |
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If your
client wishes to name the West Virginia Catholic Foundation,
Inc., in his or her will as a beneficiary to receive all or
a portion of his or her estate, the Foundation's attorneys
will be pleased to consult with you and assist in choosing
appropriate language to carry out your client's charitable
purposes. The will can be written to provide for the creation
of a named fund or a gift to a sub fund in the Catholic Education
Endowment program with all of the elective choices available
to a living donor. The following language may be used in a
person's will to create a charitable bequest:
"I
bequeath (description of gift or property) to the West
Virginia Catholic Foundation to establish a separate
fund called (name of endowment) for the use and benefit
of (parish/school/agency) in (city), West Virginia
or to add to such a fund if it already exists."
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| CHARITABLE GIFT ANNUITIES |
| The
Foundation maintains the most current version of Planned Giving
Manager software from PG Calc, Inc., an industry leader in planned
giving software. All CGA proposals are generated by the Foundation's
executive director, and the Diocesan attorney must sign off
on all executable annuity agreements. Annuity contracts are
developed and maintained by the Foundation, and attorneys representing
donors are welcome to review the contract during its formation.
In order to prepare annuity proposals, it is necessary for the
Foundation to have the full names, social security numbers,
birthdays and assets to be contributed of the prospective donors.
If the gift will be appreciated securities, the cost basis and
current market value is also needed. |
| FOUNDATION LEGAL COUNSEL |
| The
structure and documents for the Foundation were created by the
Diocesan attorney, James C. Gardill, Esq. Questions regarding
the fund documents or exempt status of the Foundation may be
directed toward Jim at (304) 232-6810, or you may forward an
e-mail message to him at jamesgardill@pgka.com. |
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