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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 organizations you care about.
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 bequest 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.

Bequests commonly take one of the following forms:

• A general cash bequest gives a fixed sum of money. This gives your executor the flexibility to pay the bequest from any available source.  Example: "I leave $___ to the Archdiocese of Milwaukee solely and exclusively for UW-Whitewater Campus Ministry." 
• A specific bequest gives a particular piece of property. However, use caution, because if you dispose of the property before your death, the Church will not receive your intended gift. Example: "I leave all of my securities to the Archdiocese of Milwaukee solely and exclusively for UW-Whitewater Campus Ministry."
• A residual bequest gives the "rest, residue and remainder" of your estate, whether all or just a percentage, of the residue after all other debts, taxes and expenses are paid. Example: "I give all the rest, residue and remainder of my real and personal estate to the Archdiocese of Milwaukee solely and exclusively for UW-Whitewater Campus Ministry."
• A percentage of the estate or trust gives a stated percentage of the estate’s or trust’s assets.
• A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if the family member does not survive you, the funds would then go to the Archdiocese of Milwaukee. Example: "I give the entirety of my estate to my husband if he survives me; if not, then the entirety of my estate shall pass to the Archdiocese of Milwaukee solely and exclusively for UW-Whitewater Campus Ministry." 

Decide how you would like us to use your gift. 

• An unrestricted bequest allows us to use the assets in the most beneficial manner.
• A restricted bequest allows you to designate your gift to a specific part of the ministry that is close to your heart. Discussing your charitable intentions with us will help ensure that your gift is directed in the manner you intend to fund a specific initiative.
• An endowed bequest allows you to designate that your gift shall become part of an endowment from which a distribution is made each year. Because the principal remains intact, the fund will support our mission in perpetuity.  Contact us in advance to be certain your intent can be fulfilled.

Meet with your estate planning attorney.

• Whether you need to create a will or trust for the first time, or revise your existing documents to reflect your current situation and preferences, you'll want to seek the help of an estate planning attorney. 

Let us know of your plans.
If you have included Warhawk Catholic in your will or estate plan, please let us know so we can thank you for your generosity.  
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Sample Gift Language For Your Will Or Trust

For a bequest to benefit Warhawk Catholic:"I hereby give and bequeath to the Archdiocese of Milwaukee the sum of $xxxx, OR all OR a portion of my residuary estate equal to XX percent thereof subject to the following conditions: (1) that such sum be used by the Archdiocese solely and exclusively for UW-Whitewater Campus Ministry and (2) that such sum be placed in a segregated account and not commingled with other assets of the Archdiocese.  It is my intent that this bequest be treated at all times as a restricted charitable gift for use only for the specific purpose stated above and for no other purpose."
The Archdiocese of Milwaukee is tax exempt under section 501(c)(3) of the Internal Revenue Code.
Legal Name:  Archdiocese of Milwaukee
Legal Address: 3501 S. Lake Drive, Milwaukee, WI 53207-0912
Tax Identification Number:  39-0807221
Date of Incorporation:  May 9, 1903
Contact: Claudia Broman (262) 473-5555 or bromanc@archmil.org


The planned giving materials on our website are not presented as legal or tax advice. Warhawk Catholic provides support for a full range of charitable gift planning options and services. Warhawk Catholic, its employees or representatives, do not offer legal or financial advice. We strongly urge prospective donors to consult with their estate planning attorney, financial advisor, accountant or other appropriate professional before making any material decisions based on information we provide through this Web site, printed materials, or other sources. The purpose of this website is to provide general gift, estate, and financial planning information.  Watch for tax law revisions.  State laws govern wills, trusts, and charitable gifts made in a contractual agreement.  Advice from legal counsel should be sought when considering these types of gifts.