Bequest in a Will

A will is the most straight forward and common of planned gifts. Several options are listed below.

*       Make an outright bequest of a specified dollar amount, a specified percentage of the estate, or a specific asset.

*       Name Saint Boniface Church as a remainder beneficiary to receive remaining funds once previously named bequests/beneficiaries, expenses and taxes have been covered.

*       Name Saint Boniface Church as a contingent beneficiary to receive funds if other named beneficiaries are no longer living;

*       Add a codicil to an existing will, to avoid rewriting the entirety of the will.

Sample language: “I bequeath to St Boniface Episcopal Church, 518 Western Avenue, Guilderland, New York, ____% of my estate [or the sum of $_______; or _____ asset] to assist in the ministries of the church at the discretion of the Rector and the members of the Vestry.”

Real Estate and other Appreciated Property

You can benefit Saint Boniface Church using real estate or other real property by:

*       Giving the property outright.

*       Selling the property and donating the proceeds to Saint Boniface Church.

*       Transferring the title or deed to Saint Boniface Church while you continue to use and benefit from the property and any proceeds during your lifetime.

*       Using appreciated property to establish a deferred Gift.

Gifts that also Provide Lifetime Income to the Donor

Establishing instruments such as a Charitable Gift Annuity, or a Charitable Remainder Trust, or a Pooled Income Fund allows you to convert an asset that has appreciated, yet that has a low yield, into a gift to Saint Boniface Church. This gift can, at the same time, provide a steady income stream to you or your named beneficiary. In addition, these planned giving tools may also provide deductions in income tax, capital gains tax and/or estate tax.

Life Insurance

Naming Saint Boniface Church as a beneficiary of a new or existing life insurance policy is one of the easiest, most affordable ways to provide for the future ministries of Saint Boniface Church. In some cases you may receive a tax deduction, and future premiums may be tax deductible.

A financial planner, attorney or other such professional can further explain the details of each of the above, and help determine which would be right for you.