Planned Giving

As each has received a gift, use it to serve one another, as good stewards of God’s varied grace.                                 1 Peter 4:10

The Book of Common Prayer reminds us of the duty of all persons to make Wills while they are in health, arranging for the disposal of their temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses.  (Book of Common Prayer, page 445)  The mission and ministries of All Saints’ Church have benefitted from generous planned gifts made by parishioners and former clergy.

Bequests.  Often the largest gift we can make is from our estates, by a bequest in a Will or from a revocable trust.  A bequest is the simplest form of planned gift.  It allows you to retain control over your assets during your lifetime and can be tailored to your family’s needs.  For example, you can write a bequest that takes effect on your death or only after the death of a surviving spouse.  You can give a specific item of property, a dollar amount or a portionof your estate.

Gifts from retirement plans or life insurance policy.  You can designate All Saints’ Church as a beneficiary of a portion of your retirement plan or life insurance policy on a written beneficiary designation form.  Upon death, the share you designated for All Saints’ would be paid free of income and estate tax.  Caution is required, however, when making gifts from these assets, and you should be sure to consult your financial and estate planner or tax advisor first.

Life Income Gifts.  You can design a planned gift that pays you or a beneficiary a stream of income but leaves the remainder of the gift to All Saints’ Church.  Common life income gifts include the charitable gift annuity (CGA) andcharitable remainder trust.  These can be established through the Episcopal Church Foundation to benefit All Saints’.

For example, a CGA is contract between a donor and the Episcopal Church Foundation to pay a fixed sum for life to 1 or 2 persons. The rate is based on life expectancy and on death of the recipient(s) the residuum is paid to the church. The donor may take a charitable income tax deduction for the actuarial value of the charity’s interest.

Learn more!  To learn more about how to make a bequest or other planned gift to All Saints’ Church, just ask one of our Wardens or Treasurer.  You can also learn about these and other types of planned gifts to benefit All Saints’ Church and your family at the Episcopal Church Foundation website, www.episcopalfoundation.org.

Can I witness to my faith in my estate plan?  The Episcopal Church Foundation encourages us to consider a Christian Preamble to your Will. This message of faith comes at a time of grief and loss, and serves as a reminder to friends and family to place their trust in Jesus Christ as you have. As you prepare your Will or Trust with your attorney, give prayerful consideration to adding a Christian Preamble such as the following (recommended by the Episcopal Church Foundation):

In thanksgiving to God for the gifts of life given in Baptism, and for the many blessings God has showered upon me; and in thanksgiving to God for the gifts of faith and hope through Jesus Christ; and in thanksgiving to God for the gifts of nurture and love through the Church where we have shared faith and fellowship; I now commend my loved ones to grow in this same faith, being true to their own Baptisms, knowing that God will continue to provide for them in their lifetimes; I encourage them to place their faith and trust in our Lord and Savior.

Disclaimer:    Planned giving, including for example the preparation of a will, making beneficiary designations and entering into life income gifts, significantly impacts your personal and family finances, and should be done carefully with professional advice.  The information on this webpage is not intended to be legal or financial advice.  You are encouraged to consult your estate or financial planner, tax advisor, accountant or attorney before making a planned gift.

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