A Living Legacy
“I feel called to tithe during my lifetime and after. Therefore, I have committed a gift of 10% of my remaining assets to Church of Our Savior through my will”
A health issue prompted us to update our estate plan. We realized the impact Church of Our Savior had on our family and chose to make a gift to the church with a simple account beneficiary designation.
Introduction
Creating A Living Legacy
Your ongoing support of Church of Our Savior has tremendous impact as we worship God, love one another, and share Christ in the world. What could it look like to create further kingdom impact that lives beyond your lifetime and for many generations to come?
Creating A Living Legacy
Just as our annual stewardship gives life to our church programs each year, the “Living Legacy” giving program at Church of Our Savior provides long-term support for our church that lives on past our lifetimes.
Legacy Giving is a planned, future donation given through a will or other designation and can take a variety of forms ranging from very simple to more complex.
There is a legacy gift option for everyone.
Why Consider a Legacy Gift to Church of Our Savior
We are a church on mission to pursue God’s work. Your legacy gift will enable us to expand vital ministries and critical campus infrastructure.
A gift to Church of Our Savior is a meaningful way to express your gratitude and values by further supporting the mission of the church. Consider the influence Church of Our Savior has made on your life and the lives of others.
A legacy gift can be a powerful way to influence and dramatically change lives for many years to come.
Many options exist to designate a legacy gift to Church of Our Savior. Before deciding, each person should evaluate their unique financial needs. It may be appropriate to consult a trusted legal or tax advisor*.
* If you need legal and tax advisor references, contact our front office – we have collected a list of tax and accounting professionals used by others in the congregation.
If you prefer a simpler and inexpensive option, then consider using a beneficiary designation. This option allows one to name a person or organization to receive proceeds from bank accounts, brokerage accounts, retirement plan assets, or life insurance policies after your lifetime.
A beneficiary designation simplifies estate planning and administration since your account will easily transfer to whomever you designate. You also have the flexibility of designating all or a portion of your account.
There are advantages to using IRA or 401K accounts. Beneficiaries of an IRA or 401K account typically must pay income tax on any withdrawals. Since Church of Our Savior is a charity, proceeds would not be taxed.
Contact your account administrator or visit your bank
Ask them to establish Church of Our Savior as a beneficiary for your account. Provide them with our:
Legal Name: Church of Our Savior Anglican, Inc.
Tax identification number: “20-2744535”
Sign your administrator’s beneficiary form
You may want to maximize the power of your gift by letting people know that you made a gift – and why.
Sharing the news of your gift with others may encourage them to consider a gift of their own.
Other Legacy Giving Options
There are many ways to create a legacy gift.
Life Insurance Policy – Donate a policy that is no longer needed or name our church as a beneficiary.
Will – Make a charitable bequest in your will for a specific dollar amount, asset, or a percentage of what remains after other bequests. You can even make a contingent bequest that takes effect only if a primary beneficiary passes away before you.
Trust –Tailor your legacy gift as a percentage of your trust, a specific dollar amount, or asset.
Other Options to Consider –
- Retained Life Estate.
- Charitable Gift Annuity.
- Charitable Remainder Trust
- Charitable Lead Trust.
Some of these options may require the help of an attorney or tax advisor depending on your tax situation and complexity of your estate.
While more complex, these options often provide tax benefits to the donor during their lifetime.
Benefits of Legacy Giving
Customize a legacy gift to meet your personal desires and estate needs. A legacy gift provides an opportunity to have full use of your assets now, while leaving a lasting-legacy for the future, with the flexibility of making future adjustments to your legacy giving plan.
A legacy gift to our church leaves a lasting remembrance of how you lived and your love for the Lord and his church. Please prayerfully consider a legacy gift to Church of Our Savior as a meaningful way to make a lasting impact for eternity.
We encourage you to consult a trusted tax advisor* regarding tax laws and your situation.
* If you need legal and tax advisor references, contact our front office – we have collected a list of tax and accounting professionals used by others in the congregation.
For more information see our frequently asked questions page:
www.church-savior.org/LivingLegacyQA.