A bequest is the most common form of planned giving. The donor specifies in their will that a portion of their estate (money, property, or other assets) will go to the Diocese after their death.

• • Specific Bequest: A donor names a specific amount or asset to be given to the Diocese.
  • Residuary Bequest: After the donor’s other bequests are fulfilled, the remaining portion of the estate is given to the Diocese.
  • Percentage Bequest: A donor leaves a percentage of their estate, rather than a fixed amount, to the Diocese.

This type of trust allows the donor to place assets into a trust, which provides income to the donor (or their beneficiaries) for a set number of years. After that period, the remaining assets go to the church. A CRT can be a way to receive income while making a future gift to the Diocese.

A CLT works in the opposite direction from a CRT. The Diocese receives income from the trust for a number of years, and after that, the remaining assets go to the donor’s heirs. This option can help reduce estate taxes for the donor’s beneficiaries.

These are accounts set up by the donor where they can make contributions during their lifetime. The funds can be invested and grow, and the donor can then recommend grants to their chosen charity (such as the Diocese) over time.

A donor can name the church as a beneficiary of a life insurance policy, meaning the Diocese will receive the proceeds of the policy after the donor passes away.

The donor can designate the Diocese as a beneficiary of a portion or all of their retirement accounts, such as an IRA or 401(k). This can be a tax-efficient way to make a charitable gift, as retirement accounts are often taxed heavily when inherited by heirs.