What is Legacy Giving (Planned Giving)?
In short, legacy giving or planned giving is a deferred form of individual giving which may allow you to make a more significant contribution to Catholic Charities than you thought possible.
Legacy giving is a philanthropic approach to supporting Catholic Charities of Southern Minnesota as part of an estate plan or bequeathed through a will. These assets can include cash assets, real estate, stock, and life insurance. This forward-thinking approach to giving is “planned” because a donor’s assets are often not liquid, being used to generate income, wrapped up in a business, and/or have current tax limitations or consequences, if accessed. Legacy giving may provide tax benefits for you and your family that can help you now or in your future estate planning.
Legacy Giving Options:
A bequest through your will or trust is one of the most popular and flexible ways that you can support Catholic Charities. You can also make a lasting gift by designating Catholic Charities of Southern Minnesota the beneficiary of a retirement plan, investment or bank account, or your life insurance policy.
Other ways a person can give in their legacy planning include:
- Real estate
- Stocks
- Charitable IRA rollover
- Charitable gift annuity
- Personal property
Each one has specific and significant tax benefits, some present and some future.
Who should I contact to make a Planned Gift?
Anyone considering a planned gift should consult a tax and/or legal advisor to determine the consequences or benefits of making a gift.
Then, contact John Meyers, Interim Executive Director, or Sheila Collom, Operations Director, at 507-454-2270 for confidential help.
You can also email info@ccsomn.org with your questions.