Planned Giving for our Future
A lifetime of work and accumulated assets can do good for an eternity -- if you take some time to plan!
Gifts planned now that will be made later through your Will or Estate Plan can create a legacy, support your values, protect your family and other heirs from taxes, and insure the future of organizations you care about -- like St. Thomas Aquinas Church and Catholic Student Center.
REMEMBER – You CAN’T take it with you!
Did you know that more than 64% of American’s don’t have a will? Don’t be one of them – ensure that the things you value are passed on and your family is taken care of by creating a will. In Iowa a will can help you:
· leave your property to people or organizations
· name a personal guardian to care for your minor children
· name a trusted person to manage property you leave to minor children, and
· name an executor, the person who makes sure that the terms of your will are carried out.
If you die without a will don't worry -- the State Legislature, Congress and the IRS have plans for you! In Iowa your property will be distributed according to state "intestacy" laws. Iowa's intestacy law gives your property to your closest relatives, beginning with your spouse and children, grandchildren, parents, or others, as determined by the court. If the court exhausts this list to find that you have no living relatives by blood or marriage, the state will take your property.
A charitable gift included in your will can help you LEAVE A LEGACY and provide tax benefits for your family or other heirs. Please remember St. Thomas Aquinas in your Will or Estate Plan.
The Benefits of a LIVING TRUST:
Did you know that a Living Trust can help protect your loved ones and the things you care about during your lifetime – and beyond? A Living Trust can guide your family and friends if you are incapacitated to fulfill your final wishes and help you Leave a Legacy. It can also help provide for the people and things you care about when you have moved on, and – done properly – can help your heirs avoid a public and costly probate process. To learn more about the Benefits of Living Trusts, or about how your plans can help St. Thomas Aquinas, contact Joe Leisz (firstname.lastname@example.org or 515-292-3810x23).
Planning to Minimize Taxes on YOUR 401(k):
Did you know that if you die with retirement plan assets in your estate, those retirement plan assets are subject to income taxes? These taxes can reduce the amount that your heirs would normally receive by up to 39.6%!
Designating St. Thomas Aquinas as a beneficiary of all (or a part of) the remainder of your retirement plan – like a 401(k) or 403(b) – can help protect your heirs from heavy taxes and help you Leave A Legacy supporting our mission in Ames, at ISU and the world!
To learn more about avoiding taxes on your 401(k), or about how your plans can help St. Thomas Aquinas, contact Joe Leisz (email@example.com or 515-292-3810x23).
Tax Advantages of CHARITABLE REMAINDER TRUSTS:
Charitable Remainder Trusts can help Receive a Lifetime Income, Save Taxes and Benefit St. Thomas Aquinas.
Charitable Remainder Trust let you convert a highly appreciated asset (like stock or real estate) into lifetime income. It reduces your income taxes now and estate taxes when you pass on. You pay no capital gains tax when the asset is sold. And it lets you help St. Thomas Aquinas (or other charities) now, and in the future!
Charitable Remainder Trusts work when you transfer an appreciated asset into an irrevocable trust. The trust assets are then sold at full market value, paying no capital gains tax, and re-invested in income-producing assets to provide for the trust payments. You can choose to receive a lifetime income either as a fixed dollar amount (or annuity, creating a Charitable Remainder Annuity Trust) or a percentage of the value of the trust (creating a Charitable Remainder Uni-Trust). This income can be for yourself, you and your spouse, your children, or other designated individuals. The income can be for their lifetime(s), or for up to 20 years.
Your gift removes the asset(s) of the trust from your estate, so no estate taxes will be due on it when you die. You also receive an immediate charitable income tax deduction. Your actual tax deduction may vary depending on the income you expect to receive from the trust.
When you pass on, the remaining trust assets go to benefit St. Thomas Aquinas (or other charities you have chosen). This is why it’s called a Charitable Remainder Trust…
The Remainder of the trust then helps support our mission – either directly through annual programs and parish needs, or in perpetuity as part of an endowment – like the Supple Endowment Fund supporting STA’s Campus Ministry.
LEAVE A LEGACY with LIFE INSURANCE:
You can designate St. Thomas Aquinas as a beneficiary of your term, variable, universal or whole life insurance policy at any time to help support our faith community after you are with us, providing a legacy gift to help further our mission to be the presence of God in Ames, Iowa State University, and the World.
You can also make St. Thomas Aquinas the owner and beneficiary of a current or new insurance policy, and receive current TAX BENEFITS by doing so. The current value of the policy counts as a gift, and you can make gifts to STA to pay the policy premiums to keep it in-force and growing in value to make a greater impact in the future.
FOR MORE INFORMATION:
To learn more about gift planning options, or about how your plans can help St. Thomas Aquinas, contact Joe Leisz, Development Director, firstname.lastname@example.org or 515-292-3810.