LEGACY SOCIETY
The MCLE Legacy Society is a dedicated group of MCLE supporters who have included the MCLE Scholarship
Endowment in their estate plans.
Making a legacy gift is as simple as making a bequest intention in your will or by naming MCLE as a beneficiary
of a retirement plan, trust instrument, life insurance policy, bank or brokerage account. Or you can buy a
charitable gift annuity to reduce ongoing taxes and make your retirement more secure, create a charitable
remainder trust (CRT) or lead trust (CLT) to strengthen your estate planning, or transfer real estate property to
MCLE to reduce your burdens and solve your real estate problems. And, because MCLE is a 501(c)(3) not-forprofit
charitable organizations, the tax advantages for you can be considerable.
We are grateful to the following members of the Legacy Society for creating an enduring legacy of training
advocates to make a difference in the lives of the Commonwealth's most vulnerable.
- Daniel L. Goldberg
- Saul Kurlat
- Richard S. Milstein
- John M. (Jack) Reilly
- Mary H. Schmidt
- Richard C. Van Nostrand
Legacy gifts to MCLE can be easy to implement, have great tax advantages, and, best of all, put no crimp in your
current budget. MCLE would be pleased to talk with you in strict confidence about your situation or consult
with your financial advisors. To discuss the MCLE Legacy Society and how you can make MCLE a part of your
charitable gift planning, contact Mark S. Rotondo, Esq., Executive Director.
For many donors, a bequest is best: You maintain control of your assets. Consider creating a charitable bequest during your life to MCLE whenever you create a new will or add a codicil. MCLE may receive a specific amount, a percentage, or the balance of your estate. Or you may name MCLE as the contingent beneficiary in case your loved ones do not survive you. Your lawyer can guide you in the choice.
There is a hidden secret in retirement plans - if not protected, when the surviving spouse dies, taxes on benefits can be extremely high due to combined estate and income taxes. Making MCLE the beneficiary of your retirement plan can be the most cost-effective way of funding a gift.
Making MCLE the owner of a paid up, unneeded life insurance policy can be a painless way to fund a gift. Consider also naming MCLE as contingent beneficiary in current policies. Or, you may want to take out new life insurance, with your family as beneficiaries, to replace the value of your MCLE gift in your estate.
To ensure constant income, a charitable gift annuity is a contract between you and MCLE to give you - and your spouse or
beneficiaries you wish to provide for - regular fixed payments (an annuity) for life.
Especially if funded with low-paying stock, a gift annuity can increase income and make retirement more secure.
And you get an immediate tax deduction as well as reduced ongoing taxes. Like charitable remainder trusts, annuities are "deferred gifts",
meaning MCLE receives the gift only after the donor and/or other beneficiaries have passed on. Nevertheless,
these gifts ensure MCLE's future and the future of our vital legal services programs.
Charitable trusts allow highly personalized use of tax benefits to strengthen estate planning. Their flexibility makes them the preferred choice of individuals with complex financial goals. Fundamentally, remainder trusts pay an amount annually to you and for another beneficiary for your lifetime(s) or a term of years and then pass the remaining principal to MCLE. In the case of a lead trust, the trust pays to MCLE the annual amount and then returns the principal to your heirs at the end of a specified term. Your financial advisor can help you determine which is best. The tax savings can be enormous.
Ever wondered "what to do with the house?" If children have moved away, your principal home or vacation spot can be a burden.
You can give your house to MCLE - retaining the right for you and your spouse to live there for your lifetimes.
You gain an immediate tax deduction and peace of mind.
