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Broeckers Leave Bequest and CRT to Cathedral High School

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Joe and Dianna Broecker recently began to look back on their life together and decided to provide financial support to the organizations that offered the most significant impact on their lives and to their family. Among them was Cathedral High School.

"Our family has fond memories that were created at Cathedral," said Joe '63.

Joe's brothers also attended Cathedral, John '54 and C. David '56. In addition Joe's sister, Mary Ann Munro graduated from St. Agnes Academy in '68. Joe and Dianna's sons Joe Jr. '84 and Tim '85, have continued the memories and Cathedral tradition as the second generation of Broeckers to attend. Nephews Mason '05 and Holden '07 are also alums; and Joe and Dianna could not be more excited as Brittany Broecker, their first granddaughter, arrives in August as a member of the Class of 2014. She'll be the third generation of their immediate family to call Cathedral High School "alma mater."

Joe was one of the founding Trustees as Cathedral transitioned from the leadership of the Holy Cross Brothers at 14th and Meridian, to its present location on 56th Street, and thus was able to remain a private, Catholic high school. In recognition of these strong ties, and the lifetime connections they have with Cathedral, the Broeckers decided to fund a Charitable Remainder Trust (CRT) with appreciated stock as part of their estate planning. This 20 year CRT will continue to benefit Joe and Dianna, and upon its maturity, will be disbursed to several named charities including Cathedral High School. The tax and income advantages to Joe and Dianna are numerous and came with the advice of a financial expert.

Cathedral prepares young people for college and life. These lifelong lessons and connections continue as graduates from Cathedral meet on a regular basis, not only throughout Indianapolis, but in cities around the country. The culture that has become Cathedral High School has endured for more than 90 years, and gifts like the Broeckers' insure the tradition of a Cathedral education will remain viable well into the future.

"We felt it was important to provide for the future of such a fine institution and those students who will someday continue to improve the world in which we live," Joe said. "So Dianna and I decided to leave a percentage of our estate to Cathedral High School, by making a provision in our will. We could think of no better contribution than to someone else's education. This is part of our life legacy."

Questions? Contact Abbe Ernstes at (317) 968-7348 or aernstes@gocathedral.com.

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A charitable bequest is one or two sentences in your will or living trust that leave to Cathedral High School a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Cathedral High School, a nonprofit corporation currently located at 5225 East 56th Street, Indianapolis, IN 46226, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Cathedral or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Cathedral as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Cathedral as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Cathedral where you agree to make a gift to Cathedral and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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