Bequests

How Bequests work

• You can provide now for a future gift to The Church of the Atonement by including a bequest provision in your will or revocable trust.

• The Church of the Atonement receives the gift and uses it for the purpose(s) you designate.

 

Benefits

• Your assets remain in your control during your lifetime. 

• You can modify your bequest if circumstances change. 

• You can direct that your bequest is used for a particular purpose.

• There is no upper limit on the estate tax deductions that can be taken for charitable bequests. (CONFIRM)

• You know that your gift will benefit Atonement tomorrow just as you intend it to today.

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Charitable Gift Annuities and Charitable Remainder Trusts 

Because of the nature of these charitable donations and their financial requirements, The Church of the Atonement Endowment Guild encourages you to work with your legal and financial advisors to establish these arrangements. 

 

Other Types of Financial Arrangements

 

Stocks/Securities

 

Appreciated assets, such as stocks and securities, provide you with the ability to make a donation to The Church of the Atonement and to receive additional tax benefits. We recommend that you seek advice from a tax professional as to the potential tax benefits associated with the donation of appreciated assets.

 

How it works

• You transfer securities to the Church of the Atonement.

• The Church of the Atonement sells your securities and uses the proceeds for its programs.

 

Benefits

• You receive gift credit and an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.

• You pay no capital gains tax on the securities you donate. 

• You can direct your gift to a specific fund or purpose. 

• You have the satisfaction of making a significant gift now or funding a life-income gift that benefits The Church of the Atonement later.

 

Life Insurance

You can help ensure Atonement’s future with the gift of life insurance. 

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How it works

• You transfer ownership of a paid-up life insurance policy to The Church of the Atonement.

• The Church of the Atonement cashes the policy now or maintains it and receives the death benefit later.
   

Benefits

• You receive gift credit and an immediate income tax deduction for the cash surrender value of the policy.

• In some cases, you can use the cash value in your policy to fund a life-income gift, such as a deferred gift annuity. However, you will want to confirm this with a professional financial advisor. 

• You gain the satisfaction of making a significant gift to The Church of the Atonement, without adversely affecting your cash flow.

 

For more information or to support Atonement with one of these gifts (email)

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Retirement Benefit Plans

 

You can also help the Church of the Atonement by donating your retirement assets. This is one of the best ways to make a charitable gift because it avoids the double taxation of income and estate taxes that can diminish its value to your heirs. 

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How it works

• You name the Church of the Atonement as the beneficiary of your IRA, 401(k) or another qualified plan.

• After your lifetime, the residue of your plan passes to the Church of the Atonement tax-free.   

 

Benefits

• You can escape both income AND estate tax levied on the residue left in your retirement account by leaving it to the Church of the Atonement.

• Give the most-taxed asset in your estate to the Church of the Atonement and leave more favorably taxed property to your heirs. 

• You can continue to take withdrawals during your lifetime. 

• You can change the beneficiary if your circumstances change.

 

Estate Planning

This process enables you to consider alternatives for, to think through, and set up legally effective arrangements that meet your specific wishes for the family, friends and institutions you care about after your passing. 

You can help to ensure the Atonement’s future by making its mission an integral part of your estate plan. As you prepare for this important aspect of your financial planning, we encourage you to seek appropriate legal and financial counsel. The information we provide is meant to give you an overview.

 Estate planning typically minimizes potential taxes and fees and assures that your assets are distributed as you desire.  An effective estate plan provides details on what will happen with your home, your investments, your business, your life insurance, your employee benefits (such as a pension plan), and other personal property in the event that you become disabled or die. 

 

If you would like to discuss a gift to Atonement in your estate plan, please contact the Rector (email).

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NOTE: The examples and information provided are for illustrative and educational purposes only and should not be considered tax or legal advice. Please consult with your tax or legal advisor about proceeding with your gift plan.

 

Planning your Estate is a Spiritual Act…

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Getting Started

You can take steps to assure the future of the Church of the Atonement. Please fill out the form below to receive information about how to use your God-given resources to sustain our parish. ​

NOTE: Please consult your attorney or other advisor(s) before making a bequest or planned gift.