Legacy Society

For nearly a century, the University of Saint Mary of the Lake/Mundelein Seminary has been preparing students to serve the Universal Church as priests of Jesus Christ. Thousands of caring and compassionate seminarians who were educated here are now faithful servants of the Lord.

We are grateful and humbled by the support of friends, like you, who are committed to our Church, our priests and our future. USML/Mundelein Seminary thrives today thanks to the generosity of those who have made gifts—including planned gifts—to the Seminary over the years.

The Saint Mary of the Lake Legacy Society proudly honors those who have made gifts to USML/Mundelein Seminary in their estate plans. Bequests, life insurance policies, charitable gift annuities, beneficiary designations of life insurance or retirement plans and life income gifts are among the planned giving options that qualify you for membership.

The Saint Mary of the Lake Legacy Society is a way for us to thank and honor these donors in a special way. Benefits of membership in the Society include a perpetual remembrance in the daily Masses and prayers offered by the seminary community, a beautiful replica of the Blessed Virgin Mary and Christ Child statue in the Dowdle garden, inclusion in the Society’s Book of Honor, reserved seating at special events and a private invitation to the annual Society reception hosted by the Rector.

As you consider your own long-range estate plans, you may want to provide meaningful and lasting support to USML/Mundelein Seminary through a planned gift. Such gifts come in a variety of forms and many offer you tax benefits. Here are some options you may want to consider:

  • A Bequest to USML/Mundelein Seminary in Your Will or Other Estate Plans. When you make or update a Will, you may include charitable bequests of a specific dollar amount, a percentage of what is left after other bequests have been made or even a particular asset. You may be able to add a bequest to an existing Will through a codicil, or amendment.
  • Sample bequest language: “I give and bequeath to University of Saint Mary of the Lake/Mundelein Seminary, a not-for-profit corporation organized under the Laws of the State of Illinois and having its principal office at 1000 East Maple Avenue, Mundelein, IL 60060, _______________ % of the rest, residue and remainder of my estate (or the sum of $ ) after all debts, expenses and taxes have been paid and all the general and specific bequests have been made to be used by University of Saint Mary of the Lake/Mundelein Seminary for its general purposes.”
  • Making USML/Mundelein Seminary the Beneficiary of a Retirement Plan. You may reduce the tax impact on your estate by directing all or a portion of your IRA or 401(k) to USML/Mundelein Seminary. Designating a charitable organization as beneficiary of an IRA or 401(k) does not require you to change your Will.
  • A Gift of Life Insurance to USML/Mundelein Seminary. You can also make the Seminary the beneficiary of life insurance policies without changing your Will. They may make an excellent source of charitable gifts.
  • A Charitable Gift Annuity to Benefit USML/Mundelein Seminary. Gift annuities enable you to make a meaningful charitable gift while you and/or a loved one enjoys income for life. Payment rates for gift annuities are based on the age(s) of the person or persons receiving payments. Once established, your payment rate never changes, regardless of fluctuations in interest rates or investment markets. Tax benefits include a federal (and perhaps state) income tax deduction in the year you make your gift and part of each payment is received free of income tax for a period of time.
  • Establishing a Life Income Arrangement to Benefit You and/or a Loved One. There are giving options that allow you to increase your income in retirement, make educational funds available for children or grandchildren in tax-favored ways, provide inheritances free or largely free of gift, estate and generation skipping taxes and supplement the income of a spouse, parent, sibling or other loved one.
  • Memorial Gifts. Any of these gifts can be made in honor of a spouse, special friend or relative. This can be a wonderful way to continue your support and create a legacy for the future while remembering someone special you care about.
More Information

Director of Planned Gifts, Harve Schlachter, is available to work with you and/or your advisors to find a gift option that will benefit you and your family as well as USML/Mundelein Seminary.

If you have already made a gift commitment to the Seminary, or would like more information confidentially with no obligation, please return the attached card or call Harve Schlachter at (847) 970-4952.

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