With more than 60 years of faith, ministry, education and fellowship as our heritage, it is no wonder that Mary, Seat of Wisdom (MSW) is a parish known for looking ahead while relishing a wonderful past. We have been blessed with the generous support of our faithful community since our establishment. It is our prayer that we can continue to serve the needs of our parish and the community around us not just today, but for decades to come.
Leave a Lasting Legacy
You can have a significant impact on the future of MSW through a planned gift. Unlike cash donations, planned gifts are typically made from assets in your estate rather than from disposable income, and may come to fruition after your lifetime. Even people of modest means can make a difference by planning a gift.
One of the easiest and most popular ways to make an impact at MSW is to include a charitable bequest in your will or living trust. With a bequest, you can give a percentage of your estate, so that your gift will remain proportionate to the size of your estate, or you can give a certain amount of cash, securities or property. Either way, your gift allows you to retain full control of your assets now, while ensuring that MSW continues to thrive in the future.
Please consider designating May, Seat of Wisdom as a recipient of your estate with the following language:
"I give (amount/percentage/asset/item) to the Catholic Bishop of Chicago for use and benefit of Mary, Seat of Wisdom Parish, located at 920 W. Granville, Park Ridge, IL, 60068. Tax ID 36-2367983."
A Gift of Retirement Plan Assets
While 401(k)s, IRAs and other retirement plans are excellent vehicles for accumulating assets for your use during retirement, much to many people’s surprise, they are a far less attractive way to pass an inheritance to loved ones. Retirement plan assets are subject to heavy income and possible estate taxes when you name anyone other than your spouse as a beneficiary. These taxes can deplete a significant percentage of your hard-earned savings–leaving less for heirs than you had hoped.
If you would like to include a gift to help our parish through your estate, consider the tax-smart strategy of naming Mary, Seat of Wisdom the beneficiary of all or a portion of your retirement plan assets and leaving other less-taxed assets to your heirs. Because of our tax-exempt status, income and estate taxes are eliminated, allowing the full value of your retirement plan assets to make a difference.