Planned giving means making a deferred gift to Cate – informing us that you have, or intend to, remember the School in your estate plans. So, planned gifts are established now, but not realized by the School until death – a long way down the road. Joining is the expression of an intention, not a legally binding commitment; we understand that plans change over time as circumstances and family needs change. Thoughtfully constructed planned gifts can help you meet personal planning goals while making a meaningful contribution to Cate. You do not need an estate attorney or financial planner to join, though you will need one to create an estate plan.
Contact me to talk about making a planned gift to Cate.
Chris Giles P’13, 15, & ’22
Director of Major Gifts and Planned Giving
805-684-8409 extension 237 or chris_giles@cate.org
A charitable bequest is one or two sentences in your will or living trust that leaves Cate School a sum, tangible property, a percentage of your estate, or a gift contingent upon certain events.
A specific bequest gives a specific item or specific piece of property to Cate School. Such bequests are fulfilled first, before cash and residuary bequests. If the donor disposes of the specified property during his or her lifetime, there will be no bequest to Cate School.
“I give ________________ (describe asset) to Cate School, a California non-profit corporation (tax ID Number: #95-1644630), 1960 Cate Mesa Road, Carpinteria, CA 93013, to further the objectives and purposes of Cate.”
A cash bequest provides Cate School with a specified sum of money from a donor’s estate. These bequests are fulfilled second, after specific and before residuary bequests.
“I give _____ Dollars ($_____) to Cate School, a California non-profit corporation (tax ID Number: #95-1644630), 1960 Cate Mesa Road, Carpinteria, CA 93013 to further the objectives and purposes of Cate.”
A residuary bequest is made from the residue, or what remains in a donor’s estate after specific and cash bequests, taxes, settlement costs and debts are satisfied. This type of bequest is sensitive to changes in the size of the estate over time.
“I give the residue (or _____ percent of the residue) of my estate to Cate School, a California non-profit corporation (tax ID Number: #95-1644630), 1960 Cate Mesa Road, Carpinteria, CA 93013, to further the objectives and purposes of Cate.”
New York Times May 8, 2023
Wall Street Journal, September 2, 2022
New York Times, July 16, 2020
Forbes, March 23, 2020
WSJ, February 27, 2020
Forbes, August 16, 2019
NYT, September 7, 2018
Roll Call, December 12, 2016
Wall Street Journal, December 9, 2016
Bloomberg, December 9, 2016
These animated videos provide general information about estate plans and planned giving.