The Fr. Claude Kean, OFM Society... Helping to Plan Timon’s Future
While philanthropy has become more complex, the purpose of giving remains the same – to enhance Bishop Timon – St. Jude High School today and ensure its strength for the future. Timon has been blessed by the kindness of so many alumni and friends who have supported the school and the young men who attend it. Whether your support came in the form of your annual Strong In Faith gift, funding a scholarship, a capital campaign pledge, or attending one of our many events – your gift made a difference. Legacy Giving extends your legacy and generosity into the future.
With little or no financial impact on you, the act of including Timon in your estate plans may result in the most lasting gift you will ever make to the school.
Creating A Permanent Legacy Through Gift Planning
A properly planned estate or deferred gift to Timon offers potential tax and other financial benefits for your estate and your heirs. It is important that you consult your attorney and professional financial advisors to understand how charitable gifts will impact your overall estate planning.
Once you have completed your estate plan, and have provided for a gift to Timon, please inform our Advancement Office of your intentions.
Documentation of your planned gift is very important to us and greatly appreciated. Consider giving Timon a copy of the pertinent provisions of your will or trust, a copy of the life insurance policy, naming the school as a beneficiary, or a letter from your attorney stating that you have included Timon in your planning.
Ways to Create A Lasting Legacy
- Bequests or Wills – The simplest of all planned gifts. A will offers a straightforward opportunity to make a contribution to help continue Timon's mission, without drawing on your current resources. It involves adding a clause to your will or trust that states your intention to give a percentage or remainder of your estate to alma mater.
- Life Insurance – Name Timon as owner and beneficiary of a policy you no longer need, or a policy written for the purpose of a charitable gift, an easy and confidential way to provide a large level of support to us without a significant outlay. And the gift will take place outside of probate, the often time-consuming and costly process of determining the validity of a will and administering the estate.
- Retirement Plan – Give Timon a portion of all of your IRA, 401(K), Keogh, or other retirement plan fund from your estate. These types of assets, when used as charitable gifts, avoid income and estate taxes; all that is required is signing the right form and no probate is involved.
- Payable on Death Account – Leave bank accounts or some types of securities to us. The gift can be easily accomplished by simply filling out the appropriate form and the asset will be transferred upon your death.
- Trusts and Annuities – These options provide a means of making a significant gift while retaining your life income. There are federal tax benefits as well as corresponding restrictions.
Benefits of These Types of Gifts:
- The certainty that your estate gift will have a significant impact on Timon
- The satisfaction of helping to continue Catholic education at Timon and in Western New York
- Permanent recognition within Timon
- Listing in Timon publications or remaining anonymous, a 'Friend of Timon'
- Federal and state estate tax and income tax savings
- A lasting legacy in your name, ensuring future generations of Timon Men will have the same education you did
Legacy of Fr. Claude Kean, OFM
Anyone fortunate enough to have met Fr. Claude Kean, OFM knew they were in the presence of someone extraordinary. Fr. Claude, a very kind and understanding man, was a great mentor to the young friars and students alike, accepting his first assignment as principal of Timon with great honor and pride, and just as much responsibility. Fr. Claude quickly became a fraternal figure to the young friars just out of school as he provided direction and guidance in his gentle fashion. In the 6 years Fr. Claude was Principal he had set in motion what would become known as the Timon tradition. Fr. Claude had the vision and passion to make Timon a special place.
In recognition of Fr. Claude Kean’s foresight and wisdom, we are honored to name Timon’s Bequest Society in his memory. As alumni and friends of Timon, we ask you to consider remembering Timon in your will and becoming a member of the Fr. Claude Kean, OFM Society. With a planned gift you will be ensuring Timon’s strength for many years into the future.
Please contact Lysa Elis at (716) 826-3610 ext. 246 or firstname.lastname@example.org to discuss ways you may assist Timon.
Note: Timon has provided this information to assist you in your estate planning and consideration of including Timon in the planning. Timon does not provide legal, tax, or financial planning advice. You are urged to consult and rely upon the opinion of qualified legal, tax, and financial planning professionals before acting upon any information provided.