Planned Giving – It’s for All of Us

​The federal stimulus relief package (CARES Act) signed into law by the president on March 27, 2020, waived Required Minimum Distributions (RMDs) for 2020 to help individuals through the coronavirus pandemic.

Learn the basics of Planned Giving.  View the slide show below and hear remarks from our guest speaker, James Murphy, Managing Program Director, Episcopal Church Foundation.

View the Sunday Forum "What is the Best Gift for Me? To Benefit Yourself, Your Loved Ones, Causes You Care About," presented by James Murphy, Managing Program Director, Episcopal Church Foundation, below.

Please note: After this instructional forum was held, a change occurred in the Required Minimum Distribution age requirement, raising it from 70½ to 72. This only applies to individuals who turn 70½ on or after January 1, 2020. Please be sure to consult your tax advisor about the impact of this change. 

Planned Giving is for all of us, as stewards of God’s bounty. It’s not reserved for the wealthy. It’s a loving and responsible act of hope and an expression of faith in the future of Immanuel Church-on-the Hill.

Planned giving

• offers an opportunity to provide for ourselves and loved ones while also having a meaningful impact on Immanuel’s future 
• allows us to decide thoughtfully how we want our resources ultimately to be used 
• lets us continue supporting the causes and missions we care about beyond our lifetime 
• helps us make a difference – and do great things in the future

​Planned giving is like planting seeds in faith and hope for the future -- that small seeds will produce a great tree whose fruit will sustain future generations. 

​Planned Giving and Ways to Ensure Immanuel’s Strong Future

​Planned giving offers a variety of ways to leave a legacy, have a meaningful impact and help secure a strong future for Immanuel Church on-the-Hill.
           
Bequests

1. Bequests are the most common way to make a future gift. These gifts can be from a will or trust or designated allocations of financial accounts.
2. Gifts can be made with cash, securities, real estate or other assets.  
3. Bequests can be designated as a dollar amount, a specific asset, a percentage of your estate or the residual balance.
4. Bequests are flexible and revocable – changes can be made at any time and you control your assets during your lifetime.  

​Beneficiary Designations

1. Beneficiary designations are the simplest way to make a future gift. You can name Immanuel as the beneficiary of a retirement plan, life insurance policy or financial account.
2. Beneficiary designations are flexible and revocable – changes can be made at any time by filling out a “beneficiary designation form” obtained from the relevant contact, such as insurance agent, bank branch or financial advisor.
3. If you are married, you need a “spousal consent form” to name anyone other than your spouse as the death beneficiary of your tax deferred account or pension plan. 

​Special Asset Gifts 

1. Special Asset gifts can include life insurance or other appreciated property, such as real estate, artwork or automobiles.
2. If you decide to name Immanuel to receive these kinds of special asset gifts, be sure to discuss this in advance with the rector and members of the Gift Review Board, which includes the Rector, Wardens and the Treasurer, to ensure that the future gift can be accepted by the Vestry and together can determine how the gift would be used.  

​Life-Income Gifts/Charitable Gift Annuities

1. These future gifts fund an annuity or trust that can pay you, and/or someone you designate, income for life.
2. The remainder of the gift is given to Immanuel.
3. Life-income gifts and charitable gift annuities require making a gift that is irrevocable in exchange for a fixed or variable income for life or for a term of years.

​​Immanuel Church on-the-Hill created the Zabriskie Society to recognize parishioners who have made Immanuel, or one of its trust funds, a beneficiary of their will, or other planned giving program.
 
There is no minimum gift amount required for a gift from your estate to become a member of the Zabriskie Society.
 
For more information about making a future gift to Immanuel and becoming a member of the Zabriskie Society, contact the Vestry steward for Planned Giving.

Making Plans for Future Gifts

​Gift planning can be done at any time. It may often coincide with significant life events, such as:  marriage, divorce, birth of a child, death of a family member, retirement, moving out of state, or a large influx of taxable income, such as from the sale of a business, a bonus, inheritance, or successful investment.​

Consult Your Advisors Before Making a Planned Gift

1. ​Legal, tax and/or financial advisors can help you determine which planned giving tools are the best fit to help you meet your personal goals, your situation and circumstances.
2. Planned Giving usually involves creating an estate plan to ensure family members and other heirs are provided for while also remembering Immanuel Church on-the-Hill and other charities you are passionate about.
3. Be sure to seek advice first from your legal, tax and/or financial advisors to determine which, if any, planned giving tools might be appropriate for you.

Consider Telling Us about Your Planned Gift

​For those who designate a planned gift of life insurance to Immanuel, it is especially important to notify Immanuel of this future gift. That is because state laws do not require insurance companies to notify beneficiaries. That means your planned gift might go unclaimed.
 
If you wish to indicate that you have designated a planned gift for Immanuel, we will be delighted to thank you, acknowledge your generosity and recognize you as a member of the Zabriskie Society.