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Examples of Planned Gifts
A bequest is a gift to St. Pius X by will. This is a simple and popular method for remembering the school in perpetuity. You may specify that St. Pius X is to receive a certain dollar amount, a specific percentage of the estate, or a certain asset. If you already have a valid, up-to-date will, your attorney can add St. Pius X as a beneficiary through a simple amendment to your will called a codicil. Bequests of all sizes are encouraged. Please use the following wording when naming St. Pius X Catholic High School in your will: "...Archbishop John Donoghue and his successors for the exclusive use of St. Pius X Catholic High School, Archdiocese of Atlanta. "
Life insurance is another way to make a planned gift to St. Pius X. You can purchase a new life insurance policy or contribute all or part of a current policy which you currently own, but no longer need. When St. Pius X Catholic High School is named as the owner and beneficiary of a policy your annual premium payments will be tax deductible. If you give an existing policy, you are generally able to deduct an amount approximately equal to the current cash value of the policy. The bottom line is that for a few hundred dollars of premiums a year, you can provide for a $25,000, $50,000 or $100,000 future endowment for St. Pius X.
Charitable Gift Annuity
A charitable gift annuity provides you with fixed income for life in exchange for your charitable gift to St. Pius X. If you are at least 40 years of age, a gift of $5,000 or more in cash, stock, or other liquid assets can be used to fund a gift annuity. The rates of return from St. Pius X's charitable gift annuity are generally higher than those available from CD's and passbook savings accounts depending upon your age at the time of your gift. The older you are, the higher the rate of return. Your income payments are distributed to you on a quarterly or other periodic basis. You can start receiving the income immediately or defer it until you retire. Through a charitable gift annuity you can: (1) receive fixed, regular payments; (2) increase your income; (3) take an immediate tax deduction; (4) save taxes on future income; and (5) avoid some capital gains taxes.
Charitable Remainder Trust
The "unitrust" and "annuity trust" generally work like this: you and your attorney create an irrevocable trust agreement, naming a bank or the Archdiocese to serve as trustee. You transfer cash, securities, or other property (generally valued at $100,000 or more) to the trustee. The trustee pays income to you and/or your other designated beneficiaries for life. Thereafter, the trust is distributed to St. Pius X for the particular purpose you originally specified. The income and estate tax advantages can be significant, and may include the avoidance of capital gains taxes. This trust is an especially good vehicle for those who own stock with a low cost basis.
Charitable Lead Trust
The charitable lead trust is a good vehicle for providing income to St. Pius X for a set number of years, with the assets in the trust ultimately passing on to your children or grandchildren. Primarily created by those in the higher estate tax brackets, the trust can pass its assets on to younger generations with little or no estate or gift tax payable.