“We have different gifts, according to the grace given us.” (NIV, Romans 12:6-10)

In many cases, a planned gift can cost the donor very little.   Gifts made during a lifetime can generate an income tax deduction.  Capital gains on appreciated stock can be eliminated.  Property can be removed from a taxable estate.  Making a gift that is deferred until after passing will not only allow one to leave a legacy, but will help you continue to live in the manner you so desire while you are still enjoying your current lifestyle.

Your generosity and support will help protect and sustain the life of the Church.  In the immortal words of Mother Teresa, “We ourselves feel that what we are doing is just a drop in the ocean.  But the ocean would be less because of that missing drop.”

The end of the year is a great time to plan making a gift to Saint Mary Parish through a planned giving program.  Planned giving combines the ability to give, the desire to give and well thought plan of action.  If you would like to explore some tax saving options regarding your charitable gift to Saint Mary, contact the Chairperson of the Finance Committee, Tom Belzek, or the Parish Office at (860) 342-2328.  You can take advantage of tax saving option now for capital gains on company stock given to you maturing during your high income earning years.  This is a simple and cost effective way of making an annual contribution to Saint Mary.


Our legacy to Saint Mary Parish

Here is how you can leave your legacy to Saint Mary.  Planning your will now allows you, not the state, to control your assets upon your passing. 

1. Prepare or update your will.
2. Set aside a gift in your will for our parish.
3. Name Saint Mary as the beneficiary of an existing life insurance policy, or purchase a new policy and name Saint Mary your selected charity as the beneficiary.
4. Remember your loved ones with a charitable bequest in their honor.
5. Discuss with your financial advisors the tax advantages you can enjoy now by leaving a gift to Saint Mary.
6. Spread the word!  Let your family, friends, fellow parishioners and advisors know that you have taken responsibility for your legacy and for the well-being of the Church.

 
Here are a few examples of planned giving options:

• Charitable Bequest

A charitable bequest involves leaving a gift through one’s last will and testament.  This gift can be a specific amount of money, real estate, stocks, or personal property to Saint Mary.  One can also designate our parish as a beneficiary of a portion of their IRA. 

• Life Insurance

Saint Mary can be named the beneficiary of one’s life insurance policy.  This is an especially appealing option to those potential donors who may own a policy that is no longer needed.  In most cases, this provides one with an immediate tax deduction for the accumulated cash value of the policy and this offers future deductions for any subsequent premiums paid.

• Charity Gift Annuity

A charitable gift annuity is a life income agreement between the donor and Saint Mary.  The donor makes a gift to the parish, and in turn, receives a fixed payment.  The annuity can be deferred, immediate, or the donor can select another person to receive the payments.  The donor is entitled to a significant tax deduction the year the gift is made, while a portion of the payments is not taxed.