Skip to main content
Text Resize
Print This
Email This
Calculate Plan
eBrochure
Contact Us
View Video
Indoor photo of two priests, a nurse, and a senior patient
Make a Future Gift of Retirement Assets

Search For My Custodian:

Your Name
Your Address (Street or P.O. Box)
Your ZIP
 Notify us of your IRA gift
Your Email
Comments
Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

Beneficiary Designation Gifts

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension, or other tax-deferred plan, is an excellent way to make a gift to Priests of the Sacred Heart.

If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.

Flowchart: Donor executes designation form with account custodian to designate POSH as beneficiary of a retirement, investment or bank account.

Beneficiary designation:

When considering a legacy gift for the Priests of the Sacred Heart, there are several creative options to explore that you may not have considered before.

Naming the Priests of the Sacred Heart as a Beneficiary: You can designate the Priests of the Sacred Heart as a beneficiary of various assets, such as life insurance policies, investment accounts, or bank accounts. This straightforward approach provides vital support for our ministry's mission of nurturing the future of the Catholic Church and aiding those in need.

Life Insurance Policies:

While life insurance was historically viewed as protection against unforeseen circumstances, today it can also serve as a strategic tool for charitable giving. You can transfer a paid-up life insurance policy to the Priests of the Sacred Heart, or designate us as the beneficiary for a policy that remains in your name. Additionally, a partially paid-up policy can be transferred, providing you with an immediate tax deduction.

Retirement Accounts (IRAs) and Bank Accounts:

Many individuals are concerned about the potential tax burden that their family members may face upon inheriting retirement accounts or bank accounts. By naming the Priests of the Sacred Heart as beneficiaries of these accounts, you can alleviate this concern and ensure that your assets support our ministry. This can typically be accomplished with a simple beneficiary designation form provided by the company, bank, or trust managing your account.

Benefits of gifts of retirement assets

  • Simplify your planning
  • Support the causes that you care about
  • Continue to use your account as long as you need to
  • Heirs can instead receive tax-advantaged assets from the estate
  • Receive potential estate tax savings from an estate tax deduction

How to make a gift of retirement assets

To leave your retirement assets to Priests of the Sacred Heart, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Priests of the Sacred Heart as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

Future gifts from your retirement assets

Did you know that 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Priests of the Sacred Heart. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets. You can use the "Make a Future Gift of Retirement Assets" tool to contact your retirement plan custodian and designate a future gift to Priests of the Sacred Heart.

Contact us

These options offer convenient and tax-efficient ways to leave a lasting legacy of support for the Priests of the Sacred Heart. We are deeply grateful for your consideration and support, which enables us to continue our vital work in service to the Church and those in need.

If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.

Thank You

Your message has been sent.

scriptsknown