Bequests

One of the most simple and cash friendly giving options is including Catholic Charities as a beneficiary in your will. Designating a specific dollar amount, a percentage of your estate, a residual of your estate or a contingency amount allows you to make a high impact, legacy gift to Catholic Charities.  It is recommended that a copy of the provision in your will that specifies your bequest to Catholic Charities be forwarded to the Development Office in order to ensure that your bequest is carried out as you intended.

Trusts

 Charitable Remainder Trust:   A charitable remainder trust is an irrevocable trust which pays income to the beneficiaries designated by the donor.  At the end of a specified term the remainder in the trust goes to Catholic Charities. The donor may act as trustee and make investment decisions with regard to the trust, and may increase the value of the trust at any time.  The creation of a charitable remainder trust provides the donor with a charitable deduction in any year in which a transfer of property is made to the trust.

Charitable Lead Trust:  If you have a large estate and are looking for ways to pass more on to your heirs, a Charitable Lead Trust may be an excellent plan for you. A Charitable Lead Trust is a gift plan that allows you to transfer assets to future generations at a significantly reduced gift or estate tax cost, while providing a stream of income to Prep for a term of years.

The main advantage of a Charitable Lead trust is that the term and payout rate of the trust can be adjusted to reduce or even “zero out” the gift tax you owe on the asset transfer to your heirs. In other words, it is possible to make a large asset transfer to your heirs tax-free, while also benefiting Catholic Charities. In addition, any appreciation that takes place inside of the trust goes tax-free to your heirs. This makes a Charitable Lead Trust a powerful wealth transfer tool.

For more information contact Bob Donahue at [email protected] or (203) 416-1313

Corporate Offices: 238 Jewett Ave Bridgeport, CT 06606
Phone: 203.416.1503
Fax: 203.372.5045

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