Planned giving is a generous and effective way of ensuring the future vibrancy of St. Luke's Church. There are many tax-beneficial ways you can make a planned gift to St. Luke's. Below are brief summaries:

Gifts by will

Bequests by will to the church are exempt from federal and most state inheritance taxes. Such a bequest will reduce your total estate value by the amount of your planned gift, reducing your overall estate tax. You can make St. Luke's Church the beneficiary of cash, securities, and/or other property. You may also designate specific amounts or a percentage of your estate to St. Luke's.

Current gifts with income retained

During your lifetime, you may make gifts of securities or other property and retain a stream of income for yourself or other designated beneficiaries. You will receive a charitable gift tax deduction for a portion of your gift. At the death of your surviving beneficiaries, the principal then goes to St. Luke's Church.

Charitable gift annuity

With a charitable gift annuity, you make a gift of cash or marketable securities (minimum $5,000) in return for guaranteed fixed income based on your age; it is not affected by market fluctuations. You receive an income tax and gift tax charitable deduction for your gift in the year that you establish the annuity.

Charitable remainder trust

Charitable remainder trusts enable you to make a significant gift of $100,000 or more and retain the right to receive income during your lifetime and/or the lifetime of your designated beneficiaries. The amount of payments received during the payout period depends on how you structure the trust. Your gift to a charitable remainder trust provides an immediate income tax and gift tax charitable deduction.

Please consult with your tax advisor to see how these options may affect your tax liabilities. 

For further information on planned giving, please contact us at 631 329 0990.