Legacy Stewardship

General Information & Definitions

Planned giving is a wonderful way to create a "win-win" situation for your donor and your church. A planned gift is a gift, which is planned in advance by you and your donor. The gift is generally one of several financial vehicles that are very advantageous to you and offer your donor a benefit such as income or tax savings. From your donor's point of view, there are the following advantages to a planned gift in certain circumstances:

Large sums of money can be preserved.
Estate taxes can be reduced.
Income streams can be maintained or developed.
In most cases, the donor can have a level of control over monies given to charities.

Following are the most common planned-giving vehicles, and a brief description of each. If you are interested in more complex financial vehicles, contact the Diocese:

Bequest
By far the most common form of planned giving, many choose to name a charitable beneficiary in their will. Anyone can add a bequest to their existing will by having a codicil attached.

Life Insurance
This is also a very simple way to make a gift. Transferring existing life insurance can provide tax advantages with little or no financial burden. You would receive a tax deduction for the replacement cost of the paid-up policy at the time of your donation, not the face value of the life insurance.

Charitable Gift Annuity
This allows you to make a gift and then in turn receive a fixed payment from the beneficiary over a period of time. This is an excellent option for older donors who would like a fixed supplement to your current retirement.

Charitable Remainder Trust
This trust allows a donor to create a trust, which will generate income to the donor or another beneficiary. When the donor dies, the trust will go the beneficiary, saving heirs the estate taxes.

Charitable Lead Trust
This trust establishes an income stream that is available to the charitable beneficiary. The trust itself eventually returns to the donor or his or her family. A lead trust can save donors' families future estate taxes or give the donors charitable deductions on income over a given period of time.

Pooled Income Fund
This technique allows donors with a small amount to donate to "pool" their resources. They are then able to receive an income over a period of time, much in the way a mutual fund might pay a dividend to its investors. Such donations can escape capital gains taken on appreciated stock.

Life Estate
This tool is great for older homeowners. They can deed the home to the beneficiary, but retain the right to live in it for life. They will receive a tax deduction for the present value of the gift.

Educational Materials

The following resources are available to you at the Diocesan Library.

Articles and Guides
	Life Planning Handbook Christ Church Cranbrook 470 Church Road Bloomfield Hills, MI 48304 248.644.5210
	The Complete Planned Giving Guide for Congregations Morehouse Publishing 1.800.877.0012	Video, manual, brochures and articles Planned giving brochures and flyers How to get started Guidelines for a congregation
	The Episcopal Church Foundation 815 Second Avenue New York, NY 10017-4564 1.800.697.2858 1.212.697.2858 http://www.episcopalfoundation.org/	Sample planned giving policy & procedure manual Articles for newsletters & bulletins
Planned Giving Software
	PlannedGiving.Com 1.800.563.6252 http://www.plannedgiving.com/	Sample planned-giving policy & procedures manual Offers a comprehensive planned-giving policy & procedures manual for promoting and accepting non-cash gifts. Sample available to review on-line or at the Diocese.
	PhilanthroTec http://www.ptec.com/	Planned-giving software. Visit the web page for more information.

Additional Resource List

Life Planning Handbook Christ Church Cranbrook 470 Church Road Bloomfield Hills, MI 48304 248.644.5210	The Episcopal Network for Stewardship TENSteward@aol.com 1.800.699.2669 3750 East Douglas Avenue Wichita, KS 67208
Robert F. Sharpe and Co . 5050 Poplar Avenue Memphis, Tennessee 1.800.238.3253 www.rfsco.com	The Complete Planned Giving Guide for Congregations (Video, Manual, Brochures, Articles) Morehouse Publishing 1.800.877.0012
The Episcopal Church Foundation 815 Second Avenue New York, New York 10017-4564 800.697.2858 212.697.2858 http://www.episcopalfoundation.org/

Articles

The following articles can be reviewed and downloaded from this site. They are suitable for newsletters and bulletins.

	Planned Giving - Using Bequests
	How to Protect a Child's Inheritance
	Giving Wisely and Well - Enlightened Philanthropy
	Creating a Win-Win Donation - Planned Giving Benefits Our Church and You
	Starting a Heritage Society

One Liners

Following are suggestions for "one liners" that can be placed in your newsletters to create interest in Legacy Stewardship. Set aside the same place in your newsletter every week. Begin the sentence DID YOU KNOW and fill in a few "factoids" about Legacy Stewardship and your church. Following are a few examples:

- Did you know that approximately ten trillion dollars will pass from one generation to the next in the next two decades? For ways that you can provide for your family or generate retirement income, make a charitable contribution to your church, and get a charitable deduction, call ...

- Did you know that there is a way of creating a trust so that grandparents can pay for their grandchildren's college education, and give to the church at the same time ? For more on how you can provide for your family in this way, call ...

Web Sites

Following are web sites which also offer articles that can be downloaded for use in your bulletins.

Planned Giving Today
http://www.pgtoday.com/

Planned Giving Design Center
http://www.pgdc.net/

Chronicle of Philanthropy
http://www.philanthropy.com/