The Story of Frank and Sadie

Frank and SadiThe story of Frank and Sadie is rooted in their Catholic upbringing. Both were born of Catholic immigrant parents and raised in the faith. In raising their own three children, they passed on the faith. They have cared for and protected the gift of faith by participating in the sacraments, especially the Eucharist, and by living a life of prayer and service to others.

Frank and Sadie express their Catholic values in a number of ways. Frank has been a hospice volunteer for nearly 18 years, extending compassion, love and hope to those nearing the end of their life’s journey. He is active in a variety of liturgical ministries and serves with deep devotion and a touch of humor. Sadie was a full time teacher for 41 years, including 10 years at a Catholic school. She currently volunteers at the local Catholic school and sings in the church choir. In the past she served various positions with the Altar Society. Frank and Sadie’s Catholic values are woven throughout the fabric of their lives and convey their unique identity.

The story of Frank and Sadie may not be all that different from your story. The Church has been an important part of their whole lives. Their Catholic values have been lived out over their lifetime, visible in the work they do and in their relationships with others.

How will you pass on your faith values?

Estate planning is one way to pass on what is important in your life to the next generation. It is an opportunity to reflect on our lives, account for our possessions, and expand our life’s journey beyond this place and time to benefit others. Imagine what the impact could be if more people made a charitable gift through their estate plans to perpetuate Christ’s work in the Church!

A charitable bequest is one or two sentences in your will or living trust that leave to the Catholic Diocese of Marquette a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the Catholic Diocese of Marquette, a nonprofit corporation currently located at 1004 Harbor Hills Drive, Marquette, MI 49855, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the Church or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the Church as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the Church as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the Church where you agree to make a gift to the Church and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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