At Episcopal Church of the Advent, we believe that legacy giving provides an enduring opportunity to ensure that Christ's mission continues for generations to come. Your planned gift can make a lasting impact on the church and its ministry, helping sustain the values of faith, love, and service that have guided our congregation throughout its history.
Legacy gifts are one of the most impactful ways you can contribute to the church's future. Here are a few reasons to consider leaving a legacy gift to Episcopal Church of the Advent:
Your gift supports the church’s ministries, outreach programs, and educational initiatives, ensuring that future generations will experience the same love and guidance that you have received. Legacy gifts strengthen the church’s capacity to serve its members and reach those in need, both now and in the future.
A planned gift to the church can reduce the estate tax burden on your heirs. This allows you to benefit the church while minimizing taxes at the time of your passing, ensuring that your estate is distributed in accordance with your wishes.
Many legacy giving options offer immediate tax deductions or other tax benefits. By contributing during your lifetime, you can reduce your taxable income while advancing the church’s mission.
Charitable gift annuities and other planned giving vehicles provide the opportunity for you to receive fixed payments during your lifetime. These options not only benefit the church but also ensure that you have a steady income stream.
A legacy gift is a powerful way to show your loved ones the importance of faith, stewardship, and commitment to Christ. It allows you to demonstrate to your family that the work of the church is central to your life and your values.
Legacy gifts can be designated for specific purposes or left unrestricted, depending on your preferences:
These gifts allow the church to allocate funds to where they are most needed at the time, such as supporting general church operations or expanding outreach ministries. Unrestricted gifts provide the church with the flexibility to address pressing needs and seize new opportunities.
These gifts are designated for a specific purpose or ministry within the church. For example, you may choose to contribute to the church’s Endowment Fund, which provides long-term sustainability by ensuring that only the earnings from the fund are used each year. Other restricted gifts can be directed to specific projects, such as the music ministry, youth programs, or capital improvements.
The Endowment Fund is one of the most common forms of a restricted gift. Contributions to the Endowment Fund are invested, and only the income generated from the fund is spent, ensuring that your gift provides support for the church in perpetuity.
The bequest is by far the most common form of planned giving, accounting for 85% of all planned gifts. A bequest is a simple and effective way to include the church in your estate plans. You can specify a fixed amount, a percentage of your estate, or a specific asset to be left to the church through your will or trust. For those with an existing will, adding a bequest is a simple process that can be done through a codicil.
Bequests are flexible, allowing you to designate a portion of your estate to the church without affecting your current finances. It’s a meaningful way to leave a legacy that reflects your values and commitment to Christ.
While bequests are the most common planned gift, there are many other ways you can contribute to the church:
You can name the church as a beneficiary of your retirement accounts (e.g., IRA, 401(k)), which may help reduce the tax burden on your estate. This is a simple and effective way to make a legacy gift without impacting your current financial situation.
You can designate the church as a beneficiary of your life insurance policy. This provides a significant gift to the church at little or no cost during your lifetime.
A charitable gift annuity allows you to make a gift to the church while receiving fixed payments for the rest of your life. This option provides income during your lifetime while also supporting the church's mission.
Donor-advised funds (DAFs) allow you to make a charitable contribution, receive an immediate tax deduction, and recommend grants to the church over time. This type of fund can be an effective way to support the church’s future while receiving ongoing tax benefits.
Making a legacy gift is simple and straightforward. Here’s how to get started:
It’s important to consult with an estate planning attorney or financial advisor to ensure your planned gift aligns with your wishes and goals. They can help you structure your gift in a way that maximizes its impact while minimizing taxes.
Consider the various types of planned gifts available, from bequests to charitable gift annuities, and decide which option works best for your situation.
Once you’ve made your decision, please let us know! By informing the church of your planned gift, we can thank you for your generosity and acknowledge your commitment to the church’s future.
Your legacy gift is a powerful statement of your faith and commitment to Christ’s mission. We are deeply grateful for your consideration of a planned gift to Episcopal Church of the Advent. Together, we can ensure that the work of the church continues to flourish for years to come.
For more information about legacy giving or to discuss your options, please contact Mother Tina today.