The last will and testament is a person’s opportunity to instruct society on what is to happen with his/her final assets. It is the most widely used estate-transfer document for delivering deferred gifts to charitable institutions. Over the years the Calumet Theatre has received numerous bequests that have proven to be significant in the continued viability of the Theatre.
Benefactors can name the Theatre as a first, second, or last beneficiary of a will to receive part or all of the proceeds.
An example of charitable bequest used to make a real impact on favored charities is the action of a lady we will call Mrs. Jones. After the death of her husband she decided to review her will and consider updating it. As she reviewed her life and the significant influences on her life she decided she wanted to leave something to her church but also to her alma mater. After considering her options, she decided to make a will leaving stocks valued at $10,000 to her church, $60,000 of stocks to her sister and her home valued at $90,000 to her niece. The remainder of her estate at the time of death would go to her alma mater.
If you already have a will, you can easily make changes at any time. You might want to consult your attorney or other advisor to make a beneficiary change that will include the Calumet Theatre.