An Introduction to Planned Giving

 

What is Planned Giving?

 

“Planned Giving” is a method of charitable giving that involves people’s estate and financial planning. Planned Giving allows people to give from their assets, not just from their income. Therefore, Planned Giving allows people to make larger gifts than they may have ever thought possible, and in ways they may have never considered. Ninety percent of planned gifts are simple bequests that people leave in their wills – and that’s what you might wish to consider. A bequest is a gift of assets (money and/or other property) that is made through your will, living trust, or other testamentary arrangement. No funds are transmitted or irrevocably transferred to Saint Patrick’s until after your death. No estate tax will be owed on the amount of the charitable bequest.

                                                                                                           

I am not an expert in things like this, and I don’t know whom to ask for help. What can I do?

 

We have a number of faithful, trusted members of Saint Patrick Parish who are well-established estate planning professionals. They have volunteered their time to help you with the first steps in learning about Planned Giving. We are happy to put you in touch with one of these parishioners for an informational conversation. Then you choose what you would like to do next.

 

I’m not rich. With limited assets, could I actually do something that would make a difference for the future of Saint Patrick’s?

 

The wonderful thing about Planned Giving is that everyone can participate, at whatever level is comfortable for them.

 

What if I want to split a bequest between Saint Patrick’s and other causes?

 

That’s also perfectly fine. Many people do.

 

I have family members whom I want/need to help by leaving them money in my will. Will this take away from my helping them?

 

You of course should do whatever you need to assist your family and loved ones. But since your Catholic faith and Saint Patrick Parish have been very important to you, we invite you to consider making a bequest that would constitute some percentage of your estate.

 

Is there preferred language for including Saint Patrick’s in my will?

 

Yes, and we have that available for you to give to your attorney.

 

Do I need to tell you that I’ve included Saint Patrick’s in my will?

 

No, you do not, but we very much appreciate your letting us know. You need not share a dollar amount or percentage, just share that you’ve made a commitment to include Saint Patrick’s in your will. Why? You will be able to enjoy the act of giving and the recognition of your gift. You will also become a member of Saint Patrick Parish Legacy Society, and will benefit from the prayers offered regularly for Legacy Society members.

 

How can I be sure my bequest will be used as I direct?


You specify your bequest, whether it is for a particular purpose or unrestricted. By the Canon Law of the Church, we must ensure that your bequest is fulfilled in all respects.

 

Are there other ways to give through Planned Giving?


There are many different ways to give through Planned Giving. To read some examples, see our Ways to Give page. When you meet with a professional financial planner (a trusted parishioner whom we can recommend to you), you can explore what options are best for you.

 

For more information, what is my next step?


To arrange to speak with a leader of the Saint Patrick Parish Legacy Society, call 978-683-9416 or leave an online message by clicking here: