PLANNED GIVING
Answers to 12 Key Questions That Help Faithful Stewards Use God's Gifts Wisely
Questions 4 through 6
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Our Catholic faith calls us to be good stewards of the blessings entrusted to us. Thoughtful charitable planning can strengthen our parish, care for our families, and often create financial or tax advantages as well. These opportunities are more practical, more flexible, and easier to begin than many parishioners realize. |
QUESTION 4
Can the Parish Benefit While I'm Still Living?
Yes. Planned giving does not always require the parish to wait until death.
A qualified charitable distribution can provide current support from eligible retirement assets. A parish-owned insurance policy may also build value that could be available during the donor's lifetime. Other arrangements can provide income to the parish for a period of years.
A gift can help meet today's needs while also strengthening the parish for the future. The best time to begin is while there is time to choose among the available options.
Take the next step. Please contact the parish office at 631-585-8760 to begin a confidential conversation about what may be possible for you, your family, and our parish.
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QUESTION 5
Can I Use a Life Insurance Policy I Already Own?
Possibly. A policy that no longer serves its original purpose may become a valuable gift.
A donor may be able to transfer ownership of an existing policy to the parish or keep ownership and name the parish as beneficiary. The two approaches have different consequences, including who controls the policy, whether a deduction may be available, and whether the beneficiary can later be changed.
Before allowing an unneeded policy to lapse or surrendering it, ask whether it could instead become a lasting gift to the parish.
Take the next step. Please contact the parish office at 631-585-8760 to begin a confidential conversation about what may be possible for you, your family, and our parish.
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QUESTION 6
Do I Have to Be Insurable?
No. Insurability can create additional choices, but it is not required to make an effective planned gift.
Life insurance is popular because it can create a large future benefit, may avoid probate, and can help preserve other assets for family members. But the presentation also includes bequests, beneficiary designations, qualified charitable distributions, charitable trusts, and charitable gift annuities.
If insurance is available, it may be an excellent tool. If it is not, there are still creative and effective ways to accomplish the same larger purpose.
Take the next step. Please contact the parish office at 631-585-8760 to begin a confidential conversation about what may be possible for you, your family, and our parish.
