Charitable Bequest
A charitable bequest stands as one of the simplest and most adaptable methods to leave a lasting impact with a gift to the Priests of the Sacred Heart.
Benefits of Making a Bequest:
- Create a significant and enduring charitable legacy.
- Alleviate tax responsibilities for your family.
- Potentially receive estate tax savings.
How a Bequest Functions:
Crafting a bequest is straightforward. With legal counsel, you can include provisions in your will or trust designating a gift to family, friends, or the Priests of the Sacred Heart as part of your estate plan. Alternatively, you can utilize a beneficiary designation form to make a bequest.
Ways to Leave a Bequest to the Priests of the Sacred Heart:
- Incorporate a bequest in your will or revocable trust.
- Nominate the Priests of the Sacred Heart as a beneficiary (full, partial, or contingent) of your retirement account (e.g., IRA, 401(k), 403(b), or pension).
- Designate the Priests of the Sacred Heart as a beneficiary an asset like retirement accounts, insurance policies, bank accounts, and securities and are usually designated through beneficiary forms.
Types of Bequests:
- Percentage bequest: Gift a percentage of your estate.
- Specific bequest: Bestow a specific dollar amount or asset.
- Residual bequest: Grant a gift from the remaining balance of your estate.
When deciding on how to have your estate distributed, be certain to consider the needs of family members or loved ones who may need your support. While we hope you will provide assistance for our work, we do not wish your bequest to leave dependents in a state of need.
If you have inquiries regarding leaving a bequest, please reach out to us. We're here to support you. If you've generously included a bequest to the Priests of the Sacred Heart in your estate plan, please inform us. We'd like to acknowledge you and your family for your kindness by inviting you to the Good Steward Society.