Mr. Tony Shuman ’91
Vice President of Advancement
A planned gift is one way to strategize for the future, manage your affairs, and make a gift to Padua Franciscan High School. It usually requires more thought and foresight than the average donation. Here are a few stories about our donors and why they chose to give. Listed on this page are the most common types of planned gifts. Everyone’s financial situation is unique. Therefore, we recommend that you contact your financial advisor or attorney for information regarding the most favorable option for you.
Please note that Padua Franciscan High School is not giving any legal advice and recommends speaking directly with an estate planning attorney.
Your estate consists of any asset in which you have an ownership interest in including stocks, bonds, investment accounts, individual retirement accounts, savings bonds, vehicles, boats, artwork, coins, bank accounts, real estate, etc. A beneficiary designation will dictate how the asset is distributed at death. The use of a designation can override what is written into your last will and testament or trust. You can directly specify Padua Franciscan as a beneficiary on your assets.
If you have assets that are not beneficiary designated or held in trust, your last will and testament will be a written record of how you would choose to have your property distributed. It is the legal way to provide for your heirs, and the causes and organizations that you care about. A last will and testament will need to go through the probate process in order to be effective. Without a will, the court will distribute your assets according to the statutory provisions in the Ohio Revised Code. Therefore, it is helpful for every adult to have a last will and testament. Your last will and testament can include a bequest to Padua Franciscan either by using a fractional share (% of the estate) or a certain sum ($ amount specified). Also, Padua Franciscan could be listed as a remote contingent beneficiary. A remote contingent beneficiary will only apply if your named beneficiaries predecease you. Remembering Padua in your will is an effective way of ensuring that the mission of the school will continue for future generations of young men and women.
A trust is an agreement made between the grantor (creator of trust) and the trustee (manager of trust assets) to hold property. A trust can be set up while living or upon death as a testamentary trust. The purpose of a trust can vary widely, but many people use trusts to avoid probate, provide for charitable bequests, provide a way to manage assets during the lifetime, create tax advantages, or set up asset protection. Including Padua Franciscan as a beneficiary in your trust can be a convenient way to leave a legacy.
Often referred to as a CGA, this is a simple contract between you and Padua Franciscan. It is a way for you to make a gift to the school, and in return, receive a specified lifetime income. You can secure steady quarterly payments for yourself or others while providing Padua with the means necessary to provide financial assistance to our students. The gift can be established with cash, securities, or property, and the assets of the institution back our ability to pay you for life. When you fund a gift annuity, you are eligible for a significant charitable deduction for the amount that Padua is expected to receive in the future.
This is a simple and low-cost method of providing for Padua’s future. A life insurance policy which names Padua Franciscan High School as the beneficiary can have a major impact on future generations of students.
Gifts of valuable artwork, furniture, jewelry, antiques, rare books and manuscripts can increase the school’s educational resources in many ways.
You can offer real estate as an immediate gift or to fund a trust. You can decide to remain in your home after making your gift, thereby gaining a tax deduction and eliminating property taxes while still enjoying the comforts of home.
For more information please contact Mr. Shuman at the Advancement Office.
Vice President of Advancement