Estate planning can be more than transferring resources upon your passing. By clearly defining your objectives and good preparation you can leave a legacy that takes care of your loved ones and ensures the financial stability of our St. George Greek Orthodox Church.
The process of creating a planned gift involves good communication. Informing your family about your vision is key. Let your loved ones know why providing for the ministries of St. George is in your heart and why you want to leave behind a legacy of stewardship.
Ways to Leave a Legacy to St. George Greek Orthodox Church
- Bequest in a Will: While providing for your beneficiaries in your will, you can include a charitable gift for a specific amount, a percentage, or remainder of your estate.
- Life Insurance Policy: You can turn a life insurance policy into charitable support. By naming St. George Greek Orthodox Church as the owner or beneficiary of an existing or new life insurance policy, you can make a significant gift.
- Retirement Accounts: Naming St. George Greek Orthodox Church as a beneficiary of your IRA, 401(k), Keogh, 403(b) or other qualified retirement plan can provide greater tax benefits to your heirs while maximizing the impact to Orthodoxy.
- Savings and Investment Accounts: Naming St. George Greek Orthodox Church as a beneficiary of your savings and investment account is an easy way to leave a legacy.
- Gift in a Trust: St. George Greek Orthodox Church can be designated as a beneficiary of a revocable or irrevocable trust.
- Charitable Remainder Trust: Cash, marketable securities or real estate may be placed into a charitable remainder trust. A Charitable Remainder Trust is a way to make a gift that allows you to retain income from your property for life or for another period of time that you specify.
- Charitable Lead Trust: Provide a substantial gift over a period of years while ensuring that the property will ultimately return to the donor or to loved ones. The lead trust is one of the few ways to reduce or eliminate taxes that otherwise would be due on assets left to children or grandchildren.
- Real Estate: You may donate residential, commercial, or undeveloped property to St. George Greek Orthodox Church.
- Securities: Giving long term appreciated securities saves capital gains tax and may serve you better than giving cash. The donor of stock donation receives a tax deduction for the stock’s fair market value.
Please consult your professional legal or tax advisor when preparing estate plans. St. George Greek Orthodox Church cannot provide legal or tax advice. However, if you would like to speak to Father Andrew Eugenis about your options, please call the church office at (732) 775-2777 or contact us online.