Wills

You've heard it before: “You should have a will.” Maybe you’re procrastinating, or you don’t realize how important estate planning is to protecting your family’s future and advancing the good works of the Church.

Consider these points:

• Without a carefully drafted will and estate plan, state law will determine the distribution of your property.  A will is one way for you to control who will receive your property when you die.
• A skillfully drafted will and estate plan can minimize your taxes and other costs payable upon your death. 
• Your will allows you to select the persons you want to serve as guardians of your children.  Otherwise the court will appoint a guardian who may not share your personal values.
• Your will also allows you to name the person who will administer your estate.
• Through your will you can leave a lasting legacy by making a gift to one or more of your favorite charities.

Every adult, no matter his or her age or net worth, needs a will drafted by an attorney and kept up to date.  But you also need a coordinated estate plan because a will disposes of only your probate estate, not other assets that you own which pass by law or by beneficiary designation at your death, such as life insurance, retirement plans, employee death benefits, and jointly owned property.

• How to create a bequest
• Sample gift language for your will

Retirement Plans

Using your retirement plan’s beneficiary designation form to direct the remaining balance in your retirement plan to the Archdiocese of Milwaukee, your parish, or your parish school makes a tax-wise gift as the value of the retirement plan assets generate a charitable deduction. In addition, charitable organizations are not required to pay income tax on future distributions from the plan.

Let Us Know Your Plans

We hope you will include a gift to the Archdiocese of Milwaukee, your parish, or your parish school in your will or estate plan.    If you have included us, please let us know so we can thank you for your generosity.  Contact us for more information.