Planned Giving – Creating Your Legacy
Planned giving provides donors with a variety of methods to make a lifetime or estate gift to their parish, parish school, regional school, archdiocesan ministry, or the Archdiocese. Planned Giving has been referred to as an ultimate act of stewardship and a means to establish your legacy by ensuring that your accumulated assets and blessings are distributed to those causes that are important to you.
Planned Gifts can be made during one’s lifetime or as part of an estate plan. Due to the complex and legal nature of many planned giving options, donors are encouraged to always seek legal and professional counsel. The Office of Mission Advancement is available to assist you, your attorney and/or financial advisor in preparing a planned gift.
Bequests. Bequests are one of the most common forms of planned giving. Bequests are provisions in a will for the distribution or transfer of one’s cash or other assets upon death. Bequest gifts may take the form of a specific dollar amount, a gift of stocks or securities, real estate or property, or a percentage of the residue of the estate.
Bequests offer the advantage of making a future gift without affecting your current cash or asset portfolio. When having your attorney draft your bequest, he or she should utilize the following language:
“I give, devise, and bequeath to the Roman Catholic Bishop of Louisville,
a corporation sole with principal offices at 212 E. College Street, Louisville,
KY. << insert gift>> for the use and benefit of << name, parish school name,
or regional school name>>.”
Gifts of Life Insurance Policies. You can make a gift of a life insurance policy by naming a parish, parish school, regional school, or the Archdiocese as the beneficiary or co-beneficiary on the policy. This type of gift may be especially attractive since it provides you with the means to make a substantial gift without interrupting your income or disturbing other assets.
Charitable Remainder Trust. With growing concerns over retirement funding, certain types of gifts can provide a source of income during your retirement years. One of the more common forms involves the establishment of a charitable trust. A Charitable Remainder Trust involves transferring a portion of one’s assets into the care of a trustee. The trustee is responsible for managing the trust, making income payments as directed by the donor, and final distribution of the trust’s remaining assets upon termination of the trust.
Donor Benefits: In addition to providing a source of income during one’s lifetime, a Charitable Remainder Trust can help one to minimize the impact of estate taxes and maximize the amount of assets that can be passed along to heirs and charitable causes.
Due to complex legal requirements involving the establishment of a Charitable Remainder Trust, you will need to consult with an attorney and a qualified financial advisor to establish a Charitable Remainder Trust.
For assistance in making a planned gift, please contact the Office of Mission Advancement as follows:
Archdiocese of Louisville
Office of Mission Advancement
P.O. Box 1073
Louisville, KY 40201-1073
Phone: (502) 585-3291