Gifts that Last

Ways of Providing for a Legacy

St. Augustine's Church welcomes gifts of many different kinds, including those given by parishioners at Sunday Offertory. In considering a legacy the following information may be of use.

Gifts for the present: Typically these gifts include property as well as cash and generate a tax credit to be utilized when filing your income tax.

For a limited time you are able to donate appreciate, publicly traded stocks, bonds and mutual fund shares and pay half the capital gains tax that would otherwise apply.

Gifts for the Future: You may make provision for a gift today and defer the transfer of the cash or property until some time in the future.

Charitable Bequest: Provision for this type of gift is made in a will or in a codicil appended to it. The tax credit you can claim in your final income tax filing is more generous than during your life and can increase the funds available to your other beneficiaries.
Life Insurance: The donation of a life insurance policy can be done at any time or through your estate. Providing the charity is both owner and beneficiary of the policy, premium payments are considered a charitable gift.
Stripped Bond or Zero Coupon Bond: A bond purchased now and payable in twenty years could result in a legacy that is double or triple the value at the time of purchase.

Gifts that give Back: All gifts properly executed give back some tax benefit. Some types of gifts offer additional benefits.

Gift Annuity: A charitable gift annuity provides tax free income to donors of a certain age but donors also relinquish any claim on the residue.
Charitable Remainder Trust: By placing assets such as stocks, bonds or other investments in a trust you can receive a tax credit on the principal while continuing to benefit personally from the earned income.
Residual Interest: A donation made now can generate a charitable receipt while allowing you to continue enjoying the property such as a house, farm, or piece of art.