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We have been blessed by God and entrusted with many gifts. Catholic stewardship refers to ways our time, talent and treasure are used in living the Word of God by sharing these gifts out of love for His people.
Our Parish will continue to grow and serve needs within our community. Part of our responsibility as stewards of God’s gifts is to include what is commonly referred to as a “final act of stewardship”. This typically takes the form of a gift within our Estate Plan. Our Estate Plan is part of our legacy, enabling us to distribute our gift of treasure to our loved ones and organizations which we are most endeared to. In our Estate Plan, we have the opportunity to give witness to our love of God and our gratitude to Him by making a gift that will help us continue the mission of Epiphany for future generations.
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Legacy giving ideas
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A bequest is a gift through your will and may be the easiest way in which to make a gift to Epiphany. There are four ways to make a bequest namely a specific dollar amount, a percentage of your estate, a residual amount after certain items such debts, taxes, expenses and other bequests are met and a contingent bequest. Under a contingent bequest, a gift is made to the Parish only under certain circumstances. For example, the Parish may receive proceeds from an estate if there are no surviving close family members named in the Estate Plan.
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Epiphany could be named as a beneficiary of funds held in an IRA or employer-sponsored retirement plan. Such a gift can have tax saving advantages to the estate and would not be taxable by Epiphany.
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Epiphany could be named as one of the beneficiaries of an existing policy or a new policy could be purchased with the Church named as owner and beneficiary. Under the later, the donor pays the premiums on the policy, but they are deductible for income tax. Another use of life insurance relates to the donor replacing value in a highly appreciated asset gifted with a newly purchased life insurance policy. There are several tax implications that should be evaluated in connection with this option.
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Financial accounts can be a simple way of designating a specific gift amount to the Parish.
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Real estate may be left by bequest.
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For more information, please contact: Bob Morgan at [email protected] or Fr. Tom at the Parish Offices.
Please be advised that the options listed above are not all-inclusive and should not be intended as tax or legal advice. Changing legislation could have a significant impact on estate and gifting options. You should always consult your tax, legal and financial advisor to find out about any of the options listed above. Your advisors can help you choose the most beneficial plan that matches your goals and values.
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