We hope that you will consider including Saint Thomas More in your estate plans to help sustain our mission for generations to come. Legacy gifts, often referred to as planned gifts or estate gifts, are donations that have the potential to be forever transformative in furthering our mission and supporting our students. STM Legacy Supporters have made one of the most thoughtful and impactful decisions in ensuring our organization will continue to enhance campus life, embody Catholic values, engage Catholic students, nurture empowered leadership and cultivate community – both at Yale University and throughout the world. There are many options for including STM in your long-range planning.
Bequests and Wills
The simplest way to make a planned gift is by naming STM in your will. A bequest is a meaningful way to support our work without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will or you can add a codicil at any time.
There are several types of bequests:
A specific bequest indicates the amount of cash, securities or other asset you wish to leave to STM. Or it can indicate a specific percentage of the total value of your estate.
A residuary bequest leaves the remaining portion of your estate (or a percentage of the total) after all other bequests have been satisfied.
You can make STM the recipient of a contingency bequest , which takes into account the possibility of a change in your beneficiary’s circumstances.
Specific Bequest
You can make a bequest to STM for a specific dollar amount or percentage of your estate:
I give, devise and bequeath to Saint Thomas More Catholic Chapel & Center at Yale University the sum of $________ as an unrestricted gift, to be used at the sole discretion of STM.
Or, you can make a bequest for specific assets, such as securities, real estate or personal property. Please be as specific as possible in identifying the property:
I give, devise and bequeath to Saint Thomas More Catholic Chapel & Center at Yale University my [insert description of the asset], to be used and/or disposed of, as STM determines for its general purposes.
Residuary Bequest
You can make a residuary bequest, which gives all or a portion of the residue of your estate to STM after payment of expenses and any amounts designated to other beneficiaries.
I give, devise, and bequeath to STM (X) percent of the rest, residue and remainder of my estate as an unrestricted gift, to be used at its sole discretion.
Contingency Bequest
You can make a contingency bequest to STM, which allows you to account for a change in your beneficiary’s circumstances.
I give, devise, and bequeath [insert person’s name] X percent of the rest, residue, and remainder of my estate if s/he survives me. If [insert name] does not survive me, I give, devise and bequeath to the STM, X percent of the rest, residue, and remainder of my estate as an unrestricted gift, to be used at its sole discretion.
Unrestricted and Restricted Gifts
Gifts that do not restrict the use (unrestricted gifts) allow STM to use these resources where they are most needed. STM is also grateful for gifts that are designated for a specific purpose that advances its mission (restricted gifts), such as support to a specific initiative or for a specific program.
If you are interested in making a restricted gift, it is important that you include language to ensure that STM may re-direct the use of your gift if the specified initiative, program or purpose ceases to need funds in the future:
I give, devise and bequeath to Saint Thomas More Catholic Chapel & Center at Yale University the sum of $_____ to be used for the [insert name of program] for so long as STM determines that the need exists. Should the need no longer exist, STM may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.
Additional Legacy Gifts
Careful and creative gift and estate planning can maximize the impact of your philanthropy through the development of an individualized approach that complements your financial, tax, and estate situation. You can make a lasting impact on STM, empowering future generations of Catholic students both on Yale’s campus and out in the wider world, while also meeting your family and financial goals.
To discuss further please contact Joe Connolly, Executive Director at (203) 777-5537 x218 or joseph.connolly@yale.edu
