Create a Legacy Supporting the future of our faith through your will or estate

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Howard Thornton
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1 Create a Legacy Supporting the future of our faith through your will or estate Moreover, God is able to make every grace abundant for you, so that in all things, always having all you need, you may have an abundance for every good work. 2 Corinthians 9:8

2 The benefits of Catholic stewardship Personally Leave a legacy of what matters most to you. Thoughtfully planning your will and special gifts can address your personal goals to: Secure an inheritance for your loved ones and leave a legacy of your faith to pass along your values. Bless future generations of Catholics just as you have been blessed by the generosity of those who came before you. Experience the joy of giving that comes from directing funds to the causes that matter to you most. Financially Wisely manage the treasure that God has entrusted to you. Take advantage of financial benefits that: Ease the distribution of your assets and minimize taxes. Plan special gifts with tax advantages you may not be able to create on your own. Identify your charitable goals and simplify for your gift options Assure morally responsible management of assets, in full compliance with the doctrine of the Catholic Church. Spiritually Strengthen our parishes and our Catholic community through your charitable giving. Spiritually you have the opportunity to: Ensure the enduring ministry of your Parish. Support Catholic ministries that give everyday witness to the hope of Heaven and the Gospel of Jesus Christ. Help answer the prayer of someone who is asking the Lord to meet their needs. Provide an outward expression of our faith through your thoughtful gifts. There are considerable tax advantages in making a legacy gift to St. Helena Parish. We encourage you to explore the various gift options with your financial planning or legal counsel. Give alms from your possessions. Do not turn your face away from any of the poor, so that God s face will not be turned away from you TOBIT 4:7

3 Bequests The lasting impact of bequests has helped shape St. Helena Parish today. For many parishioners and friends of St. Helena, a charitable bequest is the easiest and best way to make a gift to the church. By means of your will or other estate plan, you can name St. Helena Parish or School as the beneficiary of a portion of your estate, or of particular assets in your estate. There are many reasons to make a bequest. A bequest allows you to honor a loved one, while providing critical support to the church. Giving by bequest costs nothing now, yet it may give you a great deal of satisfaction to know that your future gift Types of Bequests Specific Amount or Percentage Bequest A specific amount or percentage of your estate bequest is one of the most popular types of charitable bequests. With such a bequest, you designate that St. Helena receives a specific dollar amount, percentage of the estate or a specific piece of property. Residuary Bequest A residuary bequest is used to give St. Helena all or a portion of property after all debts, taxes, expenses and other beneficiaries have been paid. Contingent Bequest In anticipation of an unexpected occurrence, or if there should be certain other specific conditions that apply, a contingent bequest will ensure that property will pass to your school rather than to unintended beneficiaries. Sample provisions: Specific Amount or Percentage Bequest I give and devise to St. Helena Parish Fund at The Catholic Foundation of Greater Philadelphia, 100 N. 20th St., Philadelphia PA, the sum of $ dollars (or state percentage of estate) to be used for (designated purpose, if any.) I instruct that all of my charitable gifts shall be made, to the extent possible, from property that constitutes income in respect of a decedent as that term is defined in the Internal Revenue Code. Residuary Bequest I give and devise to St. Helena Parish Fund at The Catholic Foundation of Greater Philadelphia, 100 N. 20th St., Philadelphia PA, all (or state percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for (designated purpose, if any.) Contingent Bequest If (insert name or names) does not survive me, I give and devise to St. Helena Parish Fund at The Catholic Foundation of Greater Philadelphia, 100 N. 20th St., Philadelphia PA, all the rest, residue, and remainder of my estate, both real and personal, to be used for (designated purpose, if any.) 3

4 Sample Codicil If you already have a will, they may add a codicil, or amendment, to the current will. Below is a sample template: [date] I, [name], a resident of the County of [county], State of [state], declare that this is the codicil to my last will and testament, which is dated [date original signed]. I add or change said last will in the following manner: [List all specific changes or additions to the original will. Reference each section number of the will and the specific language you will be affecting. This is where you could include a bequest to our mission. See our suggested bequest language that can assist you.] Otherwise, I hereby confirm and republish my will dated, [date original signed], in all respects other than those herein mentioned. I subscribe my name to this codicil this [day, e.g. 1st] day of [month], [year], at [full address where signed], in the presence of [full name of first witness to codicil], [full name of second witness to codicil], and [full name of third witness to codicil], attesting witnesses, who subscribe their names here in my presence. Maker ATTEST On the date last above written, [name], known by us to be the person whose signature appears at the end of this codicil, declared to us, [full name of first witness to codicil], [full name of second witness to codicil] and [full name of third witness to codicil], the undersigned, that the foregoing instrument, consisting, of [number of pages to codicil] page(s) was the codicil to the will dated, [date original signed]; who then signed the codicil in our presence, and now in the presence of each other, we now sign our names as witnesses. Witness Witness Address: Address: Entrust your works to the LORD, and your plans will succeed. PROVERBS 16:3

5 Appreciated Securities Giving appreciated securities is a tax-wise way for you to support your parish. For securities held longer than one year, you may deduct the full fair market value, regardless of what was originally paid for them. You also avoid paying capital gains tax. How It Works Transfer appreciated stocks, bonds or mutual fund shares owned for one year or more years We sell the securities and use the proceeds to support our ministry, or to support a designated program You receive an immediate income-tax deduction for the fair market value of the securities on the date of transfer, no matter what was originally paid for them. You paysno capital gains tax on the transfer. Example: Donation of Cash vs. Stock* Type of Gift Cash Stocks Value of Gift $50,000 $50,000 Income tax savings (33% tax bracket) Capital gains tax savings (15% x $40,000 gain) ($16,500) ($16,500) $0 ($6,000) Net cost of Gift $33,500 $27,500 *The information provided here is for illustrative purposes only and should not be considered investment, legal, accounting, tax or other professional advice.

heirs How It Works Name St. Helena Parish as a beneficiary of your IRA, 401(k) or other qualified plan.

6 Retirement Plans By naming the St. Helena parish as the beneficiary of their IRA or other qualified retirement plan, you can balance your estate by leaving the most-taxed asset to charity and the more favorably taxed property to your heirs How It Works Name St. Helena Parish as a beneficiary of your IRA, 401(k) or other qualified plan. You may designate the parish to receive all or a portion of the balance of your plan through plan administrator. Avoid the double taxation retirement savings would incur if designated to heir(s) as beneficiary(ies). Continue to take regular lifetime withdrawals. You may revoke beneficiary if needs change. Life Insurance By donating a life insurance policy or naming the school as the beneficiary of a policy, donors can create a large gift through the comparatively small annual cost of the policy premium How it works: Receive an immediate income tax deduction for the cash surrender value of the policy. Gain the satisfaction of making a significant gift to the parish without adversely affecting your cash flow. Your gifts offsetting premium payments are fully deductible. New Policy Provide now for a future gift by naming St. Helena as owner and beneficiary of a life insurance policy. When the policy matures the proceeds are paid to the parish. Paid-Up Policy Transfer ownership of a paid-up life insurance policy to St. Helena parish. The parish will either cash in the policy now or maintain it and receive the full benefit later.

7 Charitable Gift Annuities Make a gift to your parish in return for a lifetime of fixed income payments. Your payments will be calculated based on the value of the gift and your age at the time you enter into the agreement. The balance of the gift annuity will provide funding for St. Helena parish. Cash, Securities, and Real property may all be used to fund gift annuities. Please contact The Catholic Foundation of Greater Philadelphia for more information or to set up a charitable gift annuity. Sample Rate Chart for a $25,000 Single Life Annuity* Age at gift Annuity Rate Charitable Deduction Annual Payment 5.1% 5.8% 6.8% 7.8% $9,494 $10,870 $12,126 $13,856 $1,275 $1,450 $1,700 $1,950 How it Works You transfer cash or securities to CFGP. CFGP pays you or you and one other beneficiary fixed income for life. The remaining balance passes to your parish when the contract ends at the death of the last beneficiary. You receive dependable, fixed income for life in return for gift. In many cases, you may increase the yield currently received from stocks or CDs. Receive an immediate income tax deduction for a portion of gift. A portion of each annuity payment will be tax-free. Tax-free income (cash gift) $975 $1,139 $1,369 $1,638 *This calculation is provided for educational purposes only. Deduction will vary with changes in monthly IRS Discount Rate. The assumed Rate is 2%. The type of assets transferred, the actual date of the gift, and other factors may have a material effect on the amount or use of deduction. For a custom annuity illustration, or more information, please call The Catholic Foundation of Greater Philadelphia at (215)

Charitable Trusts Trusts are particularly flexible tools used in charitable planning and may be funded with many types of assets Charitable Remainder Trust How it Works Transfer cash, securities or

8 Charitable Trusts Trusts are particularly flexible tools used in charitable planning and may be funded with many types of assets Charitable Remainder Trust How it Works Transfer cash, securities or other appreciated property into a trust. The trust pays a percentage of the value of its principal, which is valued annually, to you or your named beneficiary(ies). When the trust terminates, the remainder passes to your St. Helena Parish. You receive income for life or a term of years in return for the gift. You receive an immediate income tax deduction for a portion of the contribution. You pay no upfront capital gains tax on appreciated assets contributed. You can make additional gifts as circumstances allow for additional income and tax benefits. Charitable Lead Trust How it Works Contribute securities or other appreciated assets to a charitable lead trust. The trust makes fixed annual payments St. Helena Parish for a period of time. When the trust terminates, the remaining principal is paid to your heirs. Income payments to your parish for a term reduce the ultimate tax cost of transferring an assets to heirs. The amount and term of the payments can be set so as to reduce or even eliminate transfer taxes due when the principal reverts to heirs. All appreciation that takes place in the trust goes tax-free to the individuals named in trust.

$Real Property You can may contribute an entire property or a fractional interest in real estate to your parish. Gifts of real estate are subject to a review and approval prior to acceptance.$ Outright Gifts A gift of an appreciated piece of real estate can be used to benefit your parish while offsetting other taxes.

Outright Gifts A gift of an appreciated piece of real estate can be used to benefit your parish while offsetting other taxes.

9 Real Property You can may contribute an entire property or a fractional interest in real estate to your parish. Gifts of real estate are subject to a review and approval prior to acceptance. If your are contemplating a real estate gift, you may consider the following possibilities. Outright Gifts A gift of an appreciated piece of real estate can be used to benefit your parish while offsetting other taxes. How It Works You may deed a home, vacation house, undeveloped property or commercial building to your parish. St. Helena parish may use the property for its own purposes or may sell it and use the proceeds You receive an income tax deduction for the fair market value of the real estate at the time of the transfer. You pay no capital gains tax on the transfer. Retained Life Estate You may also make a gift of property to your parish and retain the right to use the property for life. How it Works Transfer a residence, farm, or vacation home to your parish subject to a life estate agreement. Continue to live in the property for life or a specified term of years The property passes St. Helena parish when life estate ends. You can donate a significant asset, but retain the security of using it for the rest of your life. You receive an immediate income tax deduction for a portion of the appraised value of the property. You may terminate Life Estate at any time 9

10 Other information Some of the greatest opportunities to make significant charitable contributions occur as you are making other major business, personal, and financial decisions. In each of these situations, planned giving represents an opportunity to include the act of helping or giving back to the community in the overall plan for achieving important business and personal goals. Please contact us if you are interested in discussing charitable planning options to support St. Helena parish. With a legacy gift from your estate, you make a promise to future generations that St. Helena Parish will always be there for them. Your gift will live on and enrich the lives of generations to come. Thank you for considering an enduring gift to St. Helena Parish. This information may be used for educational purposes only. These materials do not constitute legal or tax advice. We strongly suggests that you consult with a tax professional concerning any tax matter. For additional information please contact: Kelly L. Diaz-Albertini, Esq. Planned Giving and Development Officer The Catholic Foundation of Greater Philadelphia 100 North 20th Street, Suite 301 Philadelphia, PA O: (267) Kalbertini@catholicfoundationphila.org

Charitable Gift Annuities

Charitable Gift Annuities What is a Charitable Gift Annuity? A charitable gift annuity is a planned giving tool that allows the donor to make a gift while at the same time receiving a constant stream of