Giving as Part of Your Estate Plan
Bequest in Your Will or Trust
The most common, and simplest, way to support Saint Meinrad
through a planned gift is by naming Saint Meinrad Archabbey as a
beneficiary in your will or other estate planning documents.
Bequests can be specified amounts, or part or all of your estate
after settlement of any obligations. Bequests to Saint Meinrad
generally are deductible for estate and gift tax purposes.
Life Insurance Policies
Sometimes people give Saint Meinrad life insurance policies that
are no longer needed for the objective the policy was initially
purchased to secure. Giving insurance policies often creates
current income tax benefits for the donor and produces a very
significant gift to Saint Meinrad. Giving a life insurance policy
often is as easy as changing the owner and/or beneficiary
designations through your insurance company.
Retirement Plans
Similar to life insurance, retirement plan assets sometimes are
not needed for retirement and can be used to make significant,
tax-efficient gifts to Saint Meinrad. In fact, with proper
planning, retirement plan asset gifts can yield substantial tax
savings for you and your heirs. As with insurance policies, giving
retirement plan assets is often as easy as making the appropriate
beneficiary designation through the plan administrator.
Life Estate Agreement
With this agreement, a donor transfers the title to a residence
or farm to Saint Meinrad while retaining the right to live there
and use the property for life. The donor may be entitled to a
current tax deduction equal to the value of the remainder
interest.
Revocable Living Trust Agreement
With a revocable living trust, a donor can provide for gifts of
real estate, cash or other property to be made upon death or some
other event, knowing that the assets still are available to the
donor during the donor's lifetime. It allows a donor to arrange for
a charitable gift without risk to his or her financial future.
Giving that Generates Income for You
Gift Annuity Agreement
With a gift annuity, you make a charitable gift of cash or other
property. You, and/or others, then receive fixed payments for life,
with Saint Meinrad receiving the remaining assets. The frequency
and rate of payments are determined at the time the gift annuity is
funded. A gift annuity can offer generous tax benefits, as well as
the satisfaction of making a meaningful gift. A deferred gift
annuity generates an immediate tax deduction and higher lifetime
payments after the deferral period (e.g., a retirement income
supplement).
Please note: Due to varying state regulations, Saint Meinrad
does not offer charitable gift annuities to residents in certain
states, including California, Florida, New Jersey and New
York.
Charitable Remainder Annuity Trust
This is an irrevocable trust that pays a fixed income, for life
or a specified period of time, based on the value of assets at the
time the trust is created. The assets remaining in the trust are
given to Saint Meinrad. This planned gift has some generous tax
advantages, including avoiding or postponing capital gains tax on
appreciated property, and possible lower estate taxes.
Charitable Remainder Unitrust
Similar to the annuity trust described above, but the unitrust
provides a fluctuating income based on a fixed percentage of the
trust's annual value. Tax advantages include avoiding or postponing
capital gains tax and possible lower estate taxes.
As with any estate planning decision, consult your legal,
financial and tax advisors for advice and information on applicable
state and federal laws.
Single Life Gift Annuity
Rates PDF
Two
Life Gift Annuity Rates PDF
