For the Love of St. Bart’s – Remember our church in your estate plans!
Our parish has been greatly blessed by the generosity of members ever since our founding in the 1950s. Over the decades, generations of the faithful have left gifts both small and large for the continued support of St. Bart’s into the future. Each of us now has the opportunity to consider a lasting expression of our love for this parish with a planned gift.
The Episcopal Diocese of Colorado provides guidance about planned giving through the Colorado Episcopal Foundation. The Foundation is available to outline how planned giving works, what it entails, what sort of gifts might be considered, and the steps we should take now if we want to designate St. Bart’s as a recipient of a lasting gift. For more information, you may contact the Foundation directly at 303-534-6778 or reach out to our rector, the Rev. Lea Colvill, or a member of the vestry.
From the Foundation’s Planned Giving info:
Leaving a planned gift to the church as part of your estate plan is often called a legacy gift because it represents what you want to pass on to the church, currently or upon death. These types of gifts need not be complicated and people of all income levels can take advantage of the benefits offered.
Several Options for Gifts to St. Bart’s
A. Bequest by Will: Cash or property of any kind. Bequests by will are simple to set up. A codicil can often be used to adjust a current will.
B. Beneficiary Designation: The church is named a primary beneficiary (partial or full) of a retirement plan or life Insurance.
C. IRA Qualified Charitable Distribution: Tax-free donation directly from an IRA. Must be 70½ years or older. Distribution counts toward the Required Minimum Distribution.
D. Appreciated property: Securities, real estate, or tangible personal property. During your lifetime or through your will. Typically, tax savings and capital gains taxes are paid on the appreciation.
E. Life Estate: The Donor gives their residence to the church and retains the right to use the property during their lifetime.
Planned Giving May Also Provide Income
A. Charitable Gift Annuity: Cash or appreciated property is used to establish the annuity. Tax savings at the time of inception. An income distribution for life is set at a fixed rate to the donor. The amount remaining in the account is donated to the church upon death.
B. Charitable Remainder Trust: A trust that provides an income stream for beneficiaries for a defined period. Possible tax benefits for the donor. The remaining assets after the trust term are donated to the church.
Some of us may have already incorporated such planning into our final wishes; some may have other causes they choose to support with their resources. In any event, we want to be mindful of the benefits of planned giving for the parish we love and cherish. Thanks be to God for all the many gifts we have received!