Planned giving is a generous and effective way of ensuring St. Margaret’s future growth. You can make a planned gift to St. Margaret’s in a number of tax-beneficial ways. When you make a bequest or contribution of any size to St. Margaret’s Episcopal Church either in your will or through a trust arrangement, you become a member of St. Margaret’s Legacy Society. St. Margaret’s Legacy Society recognizes all parishioners who have made a provision for the church as part of their estate plan. The amount is always confidential.While you should consult with your attorney or financial advisor for guidance in determining the planned gift approach that is right for you and your family, we suggest the following options:
Gifts by Will
Bequests by will to the church are exempt from federal and most state inheritance taxes. With a gift by will, your total estate value is reduced by the amount of your planned gift, reducing your overall estate tax.
By your will (which you may amend by a codicil) or your revocable trust, you can make St. Margaret’s Episcopal Church the beneficiary of cash, securities, and/or other property. You may designate specific amounts or a percentage of your estate, or you may make St. Margaret’s a residual beneficiary of your estate, that is, a recipient of some part of the balance after payment of specific bequests, expenses, and taxes.
As you review your testamentary plans, here are three language samples for your use.
Specific Amount for General Purposes
Percentage Amount for a Specific Purpose
Unrestricted Bequest to St. Margaret’s Endowment
These are only samples for your consideration. Your legal counsel can help you to refine the bequest language to suit your specific wishes for St. Margaret’s. If you do decide to include St. Margaret’s in your will, we would find it very helpful to have a copy of that portion of your will for our records.