A Gift of Gratitude… A Legacy of Faith
What is Legacy Giving:
A statement that is a powerful witness of one’s faith, love, and gratitude.
An expression of what was meaningful in one’s life.
Provides a bridge into the future for the next generation.
Ensures that the parish remains vital into the future.
Legacy programs raise awareness for church members to make plans for distribution of their worldly possessions.
A Legacy Gift is a planned gift made during one’s lifetime as an expression of gratefulness towards a parish that built on and strengthened one’s faith during their lifetime. Gifts can be made under a Will or Trust from assets accumulated during one’s lifetime. Given funds contribute to the ongoing operating needs of one’s faith home.
The Book of Common Prayer (1979 edition, page 445) directs church leadership to periodically instruct congregants to “make prudent provision for the well-being of their families,” and to “arrange for the disposal of “temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses.”
BENEFIT FOR PARISHES:
Legacy giving enables the faithful to make a final witness in their life of stewardship.
It is an emotional bond that reinforces their desire to see the ministries of their parish continue.
Provides a bridge of support for the parish into the future.
BENEFITS TO PARISHIONERS:
Reflects their values and the importance of their parish during their lifetime.
It is a spiritual legacy that gives meaning to life, and it is an inclusive strategy to support one’s parish.
HOW TO MAKE A LEGACY GIFT:
Make a bequest in one’s Will or Trust.
Name the parish as a beneficiary of a life insurance policy.
Name the parish as a beneficiary of a retirement account (IRA, 401k or 403b).
Make a charitable gift annuity (fixed sum paid to someone or an organization on an annual basis) or charitable remainder trust. These gifts may offer the donor guaranteed lifetime fixed payments and may offer significant tax savings.
Cash gifts – a gift that provides a tax deduction and are easy to make if one has liquid assets that are not currently needed.
Appreciated stock, securities, real-estate and tangible personal property gifts – which may also offer significant tax benefits.
END OF LIFE PLANNING:
Ensure one has a created and notarized, updated Will, Medical Power of Attorney, or a general Power of Attorney to ensure designated end-of-life bequests are completed according to one’s wishes.
All have a choice on how their possessions and assets are distributed upon their deaths. Members find legacy gifts make a difference to the ongoing ministries of the parish.
It only takes a commitment to start the process, and the Colorado Episcopal Foundation is available as a guide. They can be reached at www.coef.org or via telephone at 303.534.6778.
St. Paul’s Episcopal Church, Lakewood, Colorado.
Legacy Committee: Bill Schmitz – Chair, Kristin Sesko, Tara Tippett, Davis Whitley