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What is Planned Giving?

A planned gift is any charitable contribution made during your life or any bequest that takes effect upon your death.  While every type of planned gift benefits Saint Columbkille, some also benefit you and your estate through reduction of income and/or estate transfer taxes.

  • Remember Us in Your Will: You can remember the parish in your will by including the official bequest language: “I, (name) of (city, state, ZIP), give, devise, and bequeath to St. Columbkille Catholic Church of Papillion, Nebraska, (written amount or percentage of the estate or description of the property) for its use and purpose.”
  • Real Estate: An outright gift of debt-free real estate to Saint Columbkille will have tax benefits similar to a gift of appreciated securities.  Gifts of real estate (including farm land) require careful planning, but can be extremely beneficial to you.
  • Life Insurance & Annuities:You may own a paid-up life insurance policy or a deferred annuity (non-qualified) that no longer serves the purpose for which it was purchased.  Maybe your children are grown and your mortgage is paid off.  Consider making Saint Columbkille the primary beneficiary of the life insurance policy or annuity (or you can make it the contingent beneficiary after your spouse). This type of gift will remove the death benefit from your estate, avoiding federal estate taxes upon your death.  In the case of an annuity, it will also allow your estate to avoid paying income taxes on its appreciation.
  • Qualified Retirement Plans:At the time your start withdrawing funds from a qualified retirement plan such as an IRA or a 401(k), you will pay ordinary income tax on the withdrawn amount.  In addition, at the time of your death, the balance of the retirement funds will be included in your estate for federal estate tax purposes.  This double taxation can result in some estates losing over 40% of the plan benefits to taxes.  By making St. Columbkille the primary beneficiary of your retirement plan, all of these burdensome taxes can be avoided, allowing you to leave other assets to your heirs with less of a tax burden for them.
  • Required Minimum Distribution: You can transfer funds directly from your Required Minimum Distribution account to the church, which may offer you a tax break. 

 Contact Debbie Armentrout at 402-592-8494 for more information or to set up planned giving.

Contact

Debbie Armentrout
Business Manager
dkarmentrout@saintcolumbkille.org
402-592-8494