Will
and Estate Planning
Brochure
Request Form
Will information
Gift Annuities
Easy
hints to draft or update a will
Many people find the process of making
a will overwhelming, so they delay the task. It’s easy to
procrastinate when you envision the task as difficult or complex,
but in many cases a will is a simple document.
Use the A, B, C method to begin the process.
A
is for assets. Begin by making an inventory of all your assets.
These can include insurance, bank and brokerage accounts, artwork,
real estate, vehicles and other valuable items. Once you have this
list, estimate a value and then deduct for any debts you may have.
This will give you a rough idea of the total value of your estate.
B
is for beneficiaries. Who do you want to receive your assets? First,
consider family needs and obligations. You also may need to select
one or more trustees or guardians for any minor children when considering
your beneficiaries. Then review your charitable involvements and
how a bequest could benefit them and create a lasting legacy for
you. If you decide to make charitable gifts, the most common options
are specifying either a set dollar amount or a specific percentage
of your estate.
C
is for confidants. Choose trustworthy persons to provide legal and
other professional assistance, as well as a personal representative
to handle the probating of your estate. Your personal representative
should know the location of your will and you might want to share
with that person an access key or combination. Some people provide
their personal representative with a list of accounts, assets and
funeral instructions.
Once you have answered these items, don’t
delay. The next step is to contact an estate-planning attorney.
There are several ways of finding an attorney you feel comfortable
with. Many people ask friends or relatives for suggestions. You
also can contact the trust department at a bank and ask for a referral.
If you have answered the three questions above, you will be better
able to discuss specific questions with an attorney.
What if you already have a will?
If you already have a will, it might be a good time to
review its contents. With changes in tax laws and the size and extent
of one’s assets, wills can become outdated. Many wills are
written when one has minor children and if that is no longer the
case, it might need to be updated. Other reasons to update a will
include changes in your bequests, a change in your state of residence
or, divorce or remarriage.
Lastly, consider where you are storing your will.
The best locations are in a bank safety deposit box or a fireproof
home safe. If your will is in a file folder or shoe box in a closet,
it might be time to move it to a safer location.
Free brochures to assist you
To make the process easier, Alverno College has two free brochures, “Opportunities in Planned Giving” and “Your Guide to a Better Will.” To request a copy of either brochure, please call Nicole Blemberg at 414-382-6095 or e-mail Nicole Blemberg.
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Gift Annuities: An
attractive option for retirement income
With all of the ups and downs
in the financial markets, some Alverno alumnae and friends are turning
to Alverno College’s gift annuity program to create a steady,
dependable stream of lifetime income. They like knowing that every
quarter they can depend on receiving the same amount, year in and
year out.
They like the other benefits, too, such as a good
payment rate (up to 12 percent, depending upon one's age) and income
that is partially tax-free. They like the income tax charitable
deduction they receive and, of course, that they are helping Alverno
College.
You may want to consider these seven benefits of
a gift annuity as you reassess your financial plan:
- Attractive rates of return. When you compare
the gift annuity rates with what you might receive from a certificate
of deposit, you will likely be pleasantly surprised.
- Regular payments. When you establish a gift annuity,
you decide how often you want to receive your payments. While
most annuitants receive their checks or direct deposits every
quarter, some choose semi-annual or annual payments. Some participants
are even eligible for monthly payments. Whatever you choose, receiving
a regular payment on a specific predetermined rate is comforting
and helpful for planning and budgeting purposes.
- Fixed income. Your payment rate is locked in
at the time you obtain a gift annuity. It does not rise or fall
with interest rates and the economy. Instead, it will be the same
amount every year — and that can mean a lot in uncertain
times.
- Lifetime benefit. Gift annuities are for life.
No matter what your age as an annuitant or how long you live,
your payments will continue. And if you have a two-life gift annuity,
when one person dies, the other can continue to receive the same
amount for the rest of his or her life. This benefit of ongoing
payments can provide security for each spouse as they age.
- Dependable source. Alverno College stands behind
all of our gift annuities. We have a reserve fund set aside to
meet our obligations and we back up our annuity obligations with
the full financial assets of the College. We want you to feel
safe and secure and to have confidence that your payments will
continue without fail.
- Relief from taxes. Since the IRS considers part
of your contribution for a gift annuity a charitable gift, you
will receive an income tax charitable deduction if you complete
an itemized tax return. Also, you will be able to claim part of
the annuity payment as tax-free income.
- Simple set up process. Obtaining a gift annuity
from Alverno College is much easier than other financial transactions.
We provide you with a customized illustration using your age,
your spouse’s age (if appropriate) and the amount of your
contribution. You then have this detailed illustration to share
with your family and financial advisors.
Would you like to learn more?
To obtain a personalized gift illustration, please fill out the form below. Or for more information, call Nicole Blemberg, annual fund officer, at 414-382-6095, or
e-mail Nicole Blemberg. You are under no obligation to proceed with a gift.
(Clip and Mail)
Place the completed form in an envelope and mail to:
Nicole Blemberg
Annual Fund Officer
Alverno College
3400 S. 43rd St.
PO Box 343922
Milwaukee, WI 53234-3922
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