If you could make a difference in the lives the follow you at St. Mary’s would you? Former St. Marian’s 
did just that. In the last fifteen years St. Mary’s has received nearly $400,000 from different estates. Each of these gifts came from individuals of whom only a few of us knew. The planned gifts or charitable bequests has provided St. Mary’s with financial resources which have made a difference and will continue to for generations to come.
Planned giving is a term commonly used to describe a wide variety of giving vehicles that enable you to give to a charity during your lifetime and or after your death. Planned giving also allows you to meet your current income needs and provide for your heirs.
Planned giving is typically done in conjunction with estate planning, and is a viable option for donors of all income levels. From a donor’s perspective, planned giving is attractive for many reasons. It may enable you to make larger gifts than you otherwise could out of your current assets. Depending on how a planned gift is set up, it may also provide you with income for life, earn higher investment yield, or reduce your capital gains or estate taxes.
Planned gifts often appeal to people who want to benefit a charitable organization but are not certain how much of their assets they will need for themselves during their lifetimes.
The most common types of planned giving vehicles are:
Beneficiary Designations
Charitable Bequests
Charitable Gift Annuities
Charitable Lead Trusts
Charitable Remainder Trusts
Beneficiary Designation
By designating a charity as the beneficiary of your life insurance or retirement assets, you can enjoy some flexibility in your charitable giving as well as certain tax advantages. The designated charity will receive the specified assets upon your death, and you have the option of changing the eventual recipient throughout your life. You can also name the your charity as the secondary or contingency beneficiary in the event your primary or named beneficiary passes before you.
Charitable Bequests
The term “charitable bequest” is used to describe anything you give or leave to charity from your estate through a will or a revocable inter vivos (“living”) trust. An “estate” is any property, money, or personal 
belongings that you may have at the time of your death. Most people leave an estate when they die, even though they may not have a great deal of wealth. Even an individual with a small estate can arrange to leave a charitable bequest.
You can arrange to bequeath a gift from your estate in several different ways. You can set aside a specific dollar amount, leave a percentage of your estate, or leave any assets left over after your family has been provided for. Some people use a bequest to give a charity something they own, such as a car, home, art, or jewelry. Others leave a paid life insurance policy or other financial investments, such as stocks, bonds, or certificates of deposit (CDs). These gifts may provide tax savings.
Charitable Gift Annuities
A charitable gift annuity provides you with lifetime income. To establish a gift annuity, you contribute funds or assets to a nonprofit organization, and that nonprofit in turn makes fixed annuity payments to you from its general assets for the rest of your life.
You receive an immediate income tax deduction for a portion of the gift, and a portion of each annuity payment is treated as a tax-free return of the investment.
Charitable Remainder Trusts
A charitable remainder trust allows you and/or other designated beneficiaries to receive income from a trust for your lifetime(s), or for a period of not more than 20 years. At the end of that time, the balance of the trust is transferred to a charity that you have selected.
You can take a charitable deduction for a portion of the gift you make to the trust in the year the trust is formed. (In some cases, additional funds may be added in later years.)
Charitable Lead Trusts
A charitable lead trust allows you to designate a charity to receive a regular, fixed amount from a trust for a 
specified time period or the lifetime of a designated person. At the end of that time period, the remainder of the trust passes to your designated heirs or other non-charitable beneficiaries
Each of these planned giving options can be tailored to meet your specific goals and objectives and would involve consultation with your legal or financial advisor.
What’s important to know is that your gifts regardless of size can be directed during your lifetime. It can be as simple as naming St. Mary’s as your primary or secondary beneficiary on your IRA or 401(k) plan, and can be a predetermined percentage.
As you consider your legacy, and the role that St. Mary’s has played in your life, would you make a bequest that could make a difference in the lives that follow you?