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

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.”

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.