Planned Giving

Bequest

Probably the most common planned gift, a Bequest is a provision (statement) a donor places in his or her will for a charity. This could be in the form of a specific amount of cash or securities, a percentage of an estate, or property.

Charitable Gift Annuity

Another common planned gift is the Charitable Gift Annuity (CGA), funded by cash or securities. An agreement is written by the charity that states the donor will receive a steady, fixed flow of income on a quarterly, semi-annual, or annual basis for the rest of their life. Upon the donor’s death, the remaining assets revert to the charity.

Life Insurance

Does your donor have a life insurance policy they no longer need? Perhaps the policy lies forgotten in a safety deposit box. The policy could make a wonderful charitable gift. It is an easy concept, easy to set up, and simply names the charity as beneficiary or partial beneficiary.

Click here for a document that provides an easy-to-understand overview of choosing a life insurance policy as a charitable gift.

Charitable Remainder Trust**

Cash or property is donated generally during a donor’s life to the trust. The trust then makes a fixed or variable payment to the donor or beneficiary for a term of years or life. At that time, the remainder of the trust is then passed to charity.

Charitable Lead Trust**

During the initial term of a Charitable Lead Trust, the charity receives a fixed or variable payment. At the termination of the trust, the balance is distributed back to the donor or beneficiary. This type of trust is a good way to transfer assets to beneficiaries while obtaining gift or estate tax benefits.

Gifts of Real Estate**

A huge advantage to gifts of real estate is that donors who want to simplify their lives by disposing of their real estate holdings can avoid large capital gains taxes by gifting the property vs. selling it. One example of a real estate gift is a life estate for home or farm, which allows the donor to gift it, but retain the use of it for life. The charity would then own the property when you cease to live there. Donors can also gift farmland, which also allows for significant charitable gift deductions.

**Set up requires an attorney

How can I make a planned gift to St. Anthony Parish or Schools?

The most common way of making a planned gift is by designating St. Anthony of Padua Parish and/or Schools as a beneficiary in your will. Other options are designating St. Anthony Parish and/or Schools as a beneficiary of your retirement plan or life insurance policy. There are also other, more complex ways of setting up a planned gift. Your attorney or financial planner may have suggestions that are best suited to your unique needs.

How do I benefit from a planned gift?

A planned gift may enable you to make a much more significant gift than you may have thought possible. It can create opportunities to support St. Anthony Parish and/or Schools in a very impactful way.

How does my family and my loved ones benefit?

A planned gift can create potential savings on capital gains taxes or estate taxes, lessening the financial burden on your family and loved ones. For instance, a planned gift can reduce your estate tax liability. The assets that you transfer to St. Anthony Parish and/or Schools remain outside of your taxable estate.

How does St. Anthony Parish and/or Schools benefit from a planned gift?

Your gift can make a significant impact on St. Anthony Parish and/or Schools now and/or in the future. You also have the option to direct your gift to support a specific area or ministry of St. Anthony Parish and Schools. St. Anthony’s Director of Operations can assist you with the designation, and provide suggested language for your will or codicil to identify for the area(s) you would like to support.

Why do I need a will?

Creating a detailed will is critical to ensuring that your estate will continue to yield benefits to your family and to the organizations that are important to you in line with your wishes.

How do I name St. Anthony Parish and/or Schools in my will?

To name St. Anthony Parish and/or Schools, you can include the following language:

I give (___ dollars/ __ percentage or all of the residue of my estate) to St. Anthony of Padua Parish (Schools) in Effingham, IL.

Gifts can be named specifically to St. Anthony of Padua Parish, St. Anthony of Padua Schools, or St. Anthony of Padua Parish and Schools. To make a bequest to a specific ministry or organization, please contact St. Anthony’s Director of Operations for further details and language.

How do I name St. Anthony Parish and/or Schools as a beneficiary in my retirement plan or life insurance policy?

Leaving your retirement plan or IRA (or a portion of it) to St. Anthony Parish and/or Schools is a tax-wise gift. Naming St. Anthony Parish and/or Schools as the recipient of your retirement plan after your lifetime (or at the death of the survivor of you and your spouse) avoids all estate and income taxes on the plan assets. Similar benefits can apply when designating St. Anthony Parish and/or Schools as the beneficiary of your life insurance policy.

To make this gift, you simply notify your plan or policy administrator of your wish to change the beneficiary. A “change of beneficiary” form may be required, and your spouse may need to sign consent to the change of designation. The tax ID to identify St. Anthony Parish and/or Schools as a designated beneficiary is: 37-0661084.

If your spouse and children are currently the beneficiaries of your retirement plan or life insurance policy, you can continue to keep them as beneficiaries, and also include St. Anthony Parish and/or Schools as the beneficiary of a portion of your plan or policy. Upon your death, the plan administrator can “cash out” St. Anthony’s share without affecting your family’s portion, so that St. Anthony Parish and/or Schools, and your heirs, benefit from your financial planning and your generosity.