Marianists as a Beneficiary

You may include the Marianists in your estate plan by naming the Marianists, Province of the United States, as a beneficiary of your retirement plan, IRAs, bank accounts or life insurance policies.

DESIGNATING BENEFICIARIES

You may direct the entire amount to the Marianists, or you may designate a portion of the proceeds to the Marianists. The Marianists can be included as a primary beneficiary or as a contingent beneficiary, to receive the proceeds in the event the primary beneficiary is no longer living. When remembering us as a beneficiary in your retirement plan, IRAs, bank accounts or life insurance policy, please use our legal title: the Marianists, Province of the United States.

MAKING A GIFT THROUGH LIFE INSURANCE

You may name the Marianists as a beneficiary of a portion or all of the proceeds of your life insurance policy. To name the Marianists as a beneficiary, it must be referred to by its legal title: the Marianists, Province of the United States. In doing so, you retain ownership of the policy and have access to the policy’s cash value. The Marianists also may be named as a contingent beneficiary, receiving proceeds in the event that the primary beneficiaries are no longer living.

Another way to make a future gift to the Marianists is to give an existing life insurance policy to the Marianists by making an irrevocable assignment, or a gift, of an insurance policy to the Marianists. In order to receive an immediate charitable deduction, donors may not retain any ownership rights in the policy. Donors may give the Marinaists a paid-up policy or a policy for which premiums are still owed. Deductions for contributions to enable the Marianists to pay subsequent premiums also are allowed. Advantages of this option include preserving privacy, as the gift does not go through probate, and that this gift can be substantial without impacting other assets intended for family members.

Donors may also arrange to have the Marianists purchase a new policy. In this case, the Marianists are both the owner and the beneficiary of the policy. The donor makes the premium payments to the Marianists, and the Marianists pay the insurance company. Donors receive a deduction for the payments submitted to the Marianists for the premiums.

HAVE YOU ALREADY DESIGNATED THE MARIANISTS AS A BENEFICIARY?

If you have already included the Marianists in your estate plans, please call or email either Brother Jim Brown, legacy giving administrator, or Carol Gauder, legacy giving assistant, Monday through Friday, 9 a.m. to 4 p.m (Eastern Time), 937-222-4641. Or call toll free, M-F, between the hours of 9 a.m. and 3 p.m. (Eastern Time), 1-800-348-4732.