rcri.legacy
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rcri.legacy [2019/08/29 15:26] – amycsj | rcri.legacy [2020/01/09 14:14] – [Legacy] amycsj | ||
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==== by Amy Hereford, CSJ, JD, JCD ==== | ==== by Amy Hereford, CSJ, JD, JCD ==== | ||
- | Link to presentation: | + | [[https:// |
===== Scope of the Issue ===== | ===== Scope of the Issue ===== | ||
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* the //lack of candidates// | * the //lack of candidates// | ||
* the //advanced age// of the majority of its members. | * the //advanced age// of the majority of its members. | ||
+ | * {{ : | ||
+ | |||
===== Particular Challenges ===== | ===== Particular Challenges ===== | ||
* Providing //ongoing leadership// | * Providing //ongoing leadership// | ||
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* Funding | * Funding | ||
* Held in Operations, Fund or Trust | * Held in Operations, Fund or Trust | ||
- | * Trust $$ held by Trustee for Beneficiary | ||
- | * Trustee - sisters or brothers, often leadership, now | ||
* Trust $$ held by Trustee for Beneficiary | * Trust $$ held by Trustee for Beneficiary | ||
* Trustee | * Trustee | ||
- | * sisters | + | * Sisters |
* Beneficiary | * Beneficiary | ||
- | * sisters or brothers | + | * Sick, aged and infirm |
* To Trust or Not to Trust | * To Trust or Not to Trust | ||
* 80s-90s: shield assets from liability or diversion | * 80s-90s: shield assets from liability or diversion | ||
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* Legacy clause in a retirement trust | * Legacy clause in a retirement trust | ||
* Legacy trust | * Legacy trust | ||
+ | ===== Planning ===== | ||
+ | - What assets does the group have, financial, real estate, trusts, etc? And approximate value. | ||
+ | - What is the current purpose or use of those assets? | ||
+ | - What would be the legacy use of those assets? And what might the timeline look like? | ||
+ | - What is the best way to ensure that the assets are used for the current purpose, then dedicated to the legacy purpose? | ||
+ | * Since there is quite a variation in those answers, the way of moving forward could be quite different. | ||
+ | |||
+ | |||
+ | | ^ Asset ^ Value ^ Use/ | ||
+ | ^ Sisters Inc | Land | $$$ | Sisters | ||
+ | ^ Sisters Inc | Land | $$$ | Ministry | ||
+ | ^ Sisters Inc | Investments | $$$ | ||
+ | ^ Trust | | $$$ | Sisters | ||
+ | ^ Retirement Facility | ||
+ | ^ Ministry | ||
+ | |||
+ | |||
===== Take Aways ===== | ===== Take Aways ===== | ||
* Plan ahead | * Plan ahead | ||
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===== Bibliography ===== | ===== Bibliography ===== | ||
- | Hereford, Amy. //Beyond the Crossroads: Religious Life in the 21st Century.// New York: Orbis Books, 2019. | + | Hereford, Amy. [[https://www.amazon.com/ |
———. “Canon 580: Aggregation and Covenants.” //Roman Replies and CLSA Advisory Opinions,// 2012, 83–86. | ———. “Canon 580: Aggregation and Covenants.” //Roman Replies and CLSA Advisory Opinions,// 2012, 83–86. | ||
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———. “Charitable Trusts Twenty Five Years Later.” //Legal Bulletin// 73 (2002): 17–37. | ———. “Charitable Trusts Twenty Five Years Later.” //Legal Bulletin// 73 (2002): 17–37. | ||
- | ———. “Congregational Legacy Trust.” //RLC Newsletter// | + | ———. |
- | ———. “Ministerial Public Juridic Person.” //RLC Newsletter// | + | ———. |
- | ———. Navigating Change: The Role of Law in the Life-Cycle of a Religious Institute. St. Louis, MO: Religious Life Project, 2015. | + | ———. |
———. “Practical Guidelines for Aging Religious Institutes.” In //RCRI Bulletin//, 4–20. Silver Spring, MD: RCRI, 2015. | ———. “Practical Guidelines for Aging Religious Institutes.” In //RCRI Bulletin//, 4–20. Silver Spring, MD: RCRI, 2015. | ||
- | ———. “Transitioning Leadership.” //RLC Newsletter// | + | ———. |
———. “Transitioning Sponsorship.” //RCRI Bulletin// 17 (2017): 5–18. | ———. “Transitioning Sponsorship.” //RCRI Bulletin// 17 (2017): 5–18. | ||
[[http:// | [[http:// |
/users/ahereford.org/htdocs/canonlaw/data/pages/rcri.legacy.txt · Last modified: 2023/06/30 15:16 by 127.0.0.1