What Donations are used for:
Calvary Cemetery uses your donations for upkeep of the cemetery by mowing the grass, painting fences, and maintenance of the driveway.
Calvary Cemetery uses your donations for upkeep of the cemetery by mowing the grass, painting fences, and maintenance of the driveway.
Other ways of giving:
Another way that the cemetery often receives donations is via bequests to it. This is often done in charitable planning through a bequest in a will or revocable trust to take effect at the donor's death. Bequests can take on a myriad of forms. For more information on this form of giving please continue reading below!
Another way that the cemetery often receives donations is via bequests to it. This is often done in charitable planning through a bequest in a will or revocable trust to take effect at the donor's death. Bequests can take on a myriad of forms. For more information on this form of giving please continue reading below!
Will and Trust Bequests:
Wording borrowed from the Archdiocese of St. Louis. Remember that Charitable giving has tax implications. Please consult your personal tax advisor for more information based on your particular circumstances.
Besides passing your estate to your loved ones in the way you desire, you can remember our cemetery, parish, or other charitable organizations you would like to support in your Will. There are three ways that you can remember a charity in your Will:
For many, charitable planning is simply making a bequest in a Will or revocable trust to take effect at the donor’s death. Bequests can take on a myriad of forms. A “testator” (maker of a Will) or a “settlor” or “grantor” (maker of a trust) is like a donor of a lifetime gift in that he or she can choose to make a bequest specific or residual, unrestricted or restricted.
Specific/Residual. Just like a lifetime gift, a bequest can be of cash or other property, real or personal. It can be specific, as in a specific amount of money (e.g., “I give and bequeath $10,000 to… ”), or specific property, like common stock in a publicly-traded corporation (e.g., “I give and bequeath all of my common stock in ABC Inc. to…”).
A bequest can also be unspecific and residual, referring to all or a stated fraction or percentage of the rest or residue of the donor’s estate, after obligations of the estate and specific bequests have been paid (e.g., “I give the rest, residue and remainder of my estate to…”).
Unrestricted. Most bequests to the cemetery are unrestricted, meaning that the donor intends for the organization to use the bequest in a manner it deems appropriate in carrying out its tax exempt mission; there are no constraints imposed on how the bequest may be used. Unrestricted bequests should contain language making it clear they are unrestricted (e.g., “…$10,000 to the Calvary Cemetery of Brimfield, for its exempt purposes, without restriction.”).
Restricted. Occasionally, however, a donor will restrict the bequest to be used for a particular purpose or purposes. The language of a restricted bequest might provide, for example, for a sum of money to be paid “to Calvary Cemetery of Brimfield, to be used by said organization in providing upkeep of my family's graves.” Before making a restricted bequest, the donor or his or her attorney should make certain that the desired restricted purpose is one that the charitable organization will be capable of carrying out. The Peoria Diocese can provide guidance on this issue as it pertains to restricted bequests to the cemetery.
Provisional Bequests. Good estate planning attorneys will assist their clients in provisional planning. Such planning includes considering what should be done in the event a bequest fails because the person designated to receive it is not alive when the donor dies. To deal with such a contingency, a testator often will name a charity as the back-up recipient of the bequest (e.g. “I give and bequeath to my brother, John Doe, $10,000, but if he fails to survive me, then I give and bequeath such sum of money to the Calvary Cemetery of Brimfield, for its exempt purposes, without restriction.”).
Any written advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.
Wording borrowed from the Archdiocese of St. Louis. Remember that Charitable giving has tax implications. Please consult your personal tax advisor for more information based on your particular circumstances.
Besides passing your estate to your loved ones in the way you desire, you can remember our cemetery, parish, or other charitable organizations you would like to support in your Will. There are three ways that you can remember a charity in your Will:
- A specific gift amount.
- A percentage of your estate.
- The remainder of your estate after you have taken care of your
heirs and loved ones.
For many, charitable planning is simply making a bequest in a Will or revocable trust to take effect at the donor’s death. Bequests can take on a myriad of forms. A “testator” (maker of a Will) or a “settlor” or “grantor” (maker of a trust) is like a donor of a lifetime gift in that he or she can choose to make a bequest specific or residual, unrestricted or restricted.
Specific/Residual. Just like a lifetime gift, a bequest can be of cash or other property, real or personal. It can be specific, as in a specific amount of money (e.g., “I give and bequeath $10,000 to… ”), or specific property, like common stock in a publicly-traded corporation (e.g., “I give and bequeath all of my common stock in ABC Inc. to…”).
A bequest can also be unspecific and residual, referring to all or a stated fraction or percentage of the rest or residue of the donor’s estate, after obligations of the estate and specific bequests have been paid (e.g., “I give the rest, residue and remainder of my estate to…”).
Unrestricted. Most bequests to the cemetery are unrestricted, meaning that the donor intends for the organization to use the bequest in a manner it deems appropriate in carrying out its tax exempt mission; there are no constraints imposed on how the bequest may be used. Unrestricted bequests should contain language making it clear they are unrestricted (e.g., “…$10,000 to the Calvary Cemetery of Brimfield, for its exempt purposes, without restriction.”).
Restricted. Occasionally, however, a donor will restrict the bequest to be used for a particular purpose or purposes. The language of a restricted bequest might provide, for example, for a sum of money to be paid “to Calvary Cemetery of Brimfield, to be used by said organization in providing upkeep of my family's graves.” Before making a restricted bequest, the donor or his or her attorney should make certain that the desired restricted purpose is one that the charitable organization will be capable of carrying out. The Peoria Diocese can provide guidance on this issue as it pertains to restricted bequests to the cemetery.
Provisional Bequests. Good estate planning attorneys will assist their clients in provisional planning. Such planning includes considering what should be done in the event a bequest fails because the person designated to receive it is not alive when the donor dies. To deal with such a contingency, a testator often will name a charity as the back-up recipient of the bequest (e.g. “I give and bequeath to my brother, John Doe, $10,000, but if he fails to survive me, then I give and bequeath such sum of money to the Calvary Cemetery of Brimfield, for its exempt purposes, without restriction.”).
Any written advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.