Episcopal Diocese of Virginia
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St. Thomas's Episcopal Church

Have You considered Planned Giving to St. Thomas?

PLANNED GIVING AT ST THOMAS CHURCH:  “IMPACT OUR FUTURE”

How would you like to:  

  • Touch the lives of others while creating a lasting legacy?
  • Find peace of mind through a wide variety of tax benefits? 
  • Help impact ministries for current and future generations? 

Consider one of the three following Planned Giving Options:

  1. Beneficiary Designation Gifts

A beneficiary designation gift is a simple and affordable way to make a gift to support St Thomas Episcopal Church in Orange, Virginia.  You can designate St. Thomas Church as a beneficiary of a retirement, investment or bank account or your life insurance policy.

Benefits of a beneficiary designation gift

  • Support the causes that you care about
  • Continue to use your account as long as you need to
  • Simplify your planning and avoid expensive legal fees
  • Reduce the burden of taxes on your family
  • Receive an estate tax charitable deduction

 How a beneficiary designation gift works

  1. To make your gift, contact the person who helps you with your account or insurance policy, such as your financial planner, broker, banker, insurance agent or attorney.
  2. Ask them to send you a new beneficiary designation form.
  3. Complete the form, sign it and mail it back to your broker, banker or agent.
  4. When you pass away, your account or insurance policy will be paid or transferred to the designated recipient such as St Thomas Episcopal Church, consistent with the beneficiary designation.

        ***Send a copy to the St Thomas Churchoffice.

Important considerations for your future

If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts.  Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account.  You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.

If you have any questions about leaving a beneficiary designation gift to us, please contact the person who helps you with your account or insurance policy, such as your financial planner, broker, banker, insurance agent or attorney.  If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to recognize you and your family privately for your gift.

 

Learn About Wills and Bequests


What are the benefits of making a bequest?

A bequest is generally a revocable gift, which means it can be changed or modified at any time.  You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended.  Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

How can I learn more? 

To make your gift, contact the person who helps you with your accounts, insurance policy or legal matters, such as your financial planner, broker, banker, insurance agent or attorney. 

 Review information from the Diocese of Virginia’s website:

  1. Giving Options: http://dvagiving.org/?pageID=1
  2. Videos: Creating a Will or Living Trust (several) http://dvagiving.org/?pageID=18#

 

How do I make a bequest?

A bequest is one of the easiest gifts to make.  With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends or St Thomas Episcopal Church in Orange, Virginia as part of your estate plan. 

What are my options?

An excellent way for you to support St Thomas Episcopal Church’s mission is to leave us a bequest in your will, living trust or with a codicil.  One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to St Thomas Church during your life. Another benefit is that you are able to leave a lasting legacy.

Types of Bequests


There are a number of ways you can make a bequest to St Thomas Church in Orange, Virginia. 

Specific Bequest.  A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount.  For example, you may wish to leave your home or $10,000 to: St. Thomas Episcopal Church in Orange, Virginia.

Percentage Bequest.  Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity.  For example, you may wish to leave 10% of your estate to St. Thomas Episcopal Church in Orange, Virginia. 

Residual Bequest.  A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests.  A common residual bequest involves leaving a percentage of the residue of the estate to charity.  For example, you may wish to leave 30% of the residue of your estate to St. Thomas Episcopal Church in Orange, Virginia.

Contingent Bequest.  A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met.  For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to St. Thomas Episcopal Church in Orange, Virginia.

How do I get started?

To make your gift, contact the person who helps you with your account or insurance policy, such as your financial planner, broker, banker, insurance agent or attorney.

 

IRA Charitable Rollover

You may be looking for a way to make a big difference to help further our mission.  If you are 70½ or olderyou may also be interested in a way to lower the income and taxes from your IRA withdrawals.  An IRA charitable rollover is a way you can help continue the missions at St. Thomas Church and possibly benefit this tax year.

Benefits of an IRA charitable rollover:
  • Avoid taxes on transfers of up to $100,000 from your IRA to our church
  • Satisfy your Required Minimum Distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the work and mission of our church.

 

How an IRA charitable rollover gift works:
  1. Contact your IRA plan administrator to make a gift from your IRA to St. Thomas Church.
  2. Your IRA funds will be directly transferred to St. Thomas Church to help continue our important work.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction, however, it does reduce your personal taxable income.
  4. Merely contact the person who helps you with your account or insurance policy, such as your financial planner, financial planner, broker, banker, insurance agent or attorney.

       ***Send a copy to the St Thomas Church office.