Archdiocesan Parishes Embrace Planned Giving

kobexielite 𝕯𝖎𝖌𝖎𝖙𝖆𝖑 𝕸𝖊𝖉𝖎𝖆

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Post on Jan 31, 2025

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Archdiocesan Parishes Embrace Planned Giving: A Growing Trend in Stewardship

Planned giving is rapidly gaining traction within the Archdiocese, offering a powerful way for parishioners to support their faith and leave a lasting legacy. This isn't just about writing a check; it's about strategically incorporating charitable giving into long-term financial planning. This article explores the various methods of planned giving and the benefits they offer both the donor and the Archdiocese.

What is Planned Giving?

Planned giving encompasses a range of charitable giving strategies that allow individuals to support the Archdiocese through their estate plans. These methods often provide significant tax advantages while ensuring a lasting contribution to the church's mission. It's a powerful tool for those who wish to make a substantial difference long after they're gone. Unlike traditional donations, planned giving involves integrating charitable contributions into one's overall financial strategy.

Methods of Planned Giving: A Diverse Range of Options

The Archdiocese offers a variety of planned giving options to suit diverse financial situations and individual preferences. These include:

• Bequests: Leaving a portion of your estate to the Archdiocese in your will is a straightforward and popular method. This can be a specific amount or a percentage of your assets.

• Charitable Gift Annuities: These offer a fixed annual income payment for life, with a portion going to the Archdiocese upon your death. This provides both financial security and charitable contribution.

• Charitable Remainder Trusts (CRTs): CRTs provide income for the donor during their lifetime, with the remaining assets going to the Archdiocese upon their death. There are various types of CRTs to consider, each with its own tax implications.

• Life Insurance Policies: Naming the Archdiocese as a beneficiary of a life insurance policy is a significant way to contribute.

• Retirement Plan Designations: Designating the Archdiocese as a beneficiary of a retirement plan, such as a 401(k) or IRA, can provide tax advantages while supporting the Church.

• Real Estate Donations: Donating property to the Archdiocese can offer tax benefits and assist in fulfilling the Church's mission.

Why Embrace Planned Giving? Mutual Benefits for Parishioners and the Church

Planned giving offers a win-win scenario. For parishioners, it allows for:

• Tax Advantages: Many planned giving methods offer significant tax deductions, reducing your tax burden. Consult with a tax advisor for personalized advice.

• Financial Security: Some methods, like charitable gift annuities, provide a guaranteed income stream.

• Legacy Creation: Planned giving ensures your legacy extends beyond your lifetime, supporting the Church's vital work for generations to come.

• Peace of Mind: Knowing you've made a lasting contribution to the Archdiocese can provide great peace of mind.

For the Archdiocese, planned giving:

• Provides Long-Term Financial Stability: Planned gifts ensure a sustainable income stream, supporting ongoing ministry and operations.

• Facilitates Major Projects: Planned gifts can help fund significant capital improvements and initiatives.

• Strengthens Community: Planned giving fosters a deeper connection between parishioners and the Archdiocese.

Taking the Next Steps: Resources and Guidance

The Archdiocese offers resources and guidance to help you explore planned giving options. Contact the Archdiocesan Development Office to learn more about the different methods available and receive personalized guidance. They can help you determine the best strategy for your individual circumstances and financial goals. It’s important to consult with your financial advisor and tax professional to ensure the chosen method aligns with your overall financial plan.

Remember, planned giving is a powerful way to leave a lasting legacy of faith and generosity. It's an opportunity to actively participate in the future of the Archdiocese and strengthen the community of believers. Take the time to explore the possibilities and discover how you can make a lasting difference.