HOW WILL WE BE REMEMBERED?

HOW MIGHT WE LEAVE OUR LEGACY TO “CONTINUING SERVICES AND BENEFITS

PROVIDED BY CHRIST’S LUTHERAN CHURCH” DURING AND AFTER OUR LIFETIME?

Only we, individually, can answer what is proper and possible for each of us.

Gifts during our lifetime:

• We can contribute gifts to our Church’s Endowment Fund while we are actively serving and personally benefiting.

• Gifts can be cash, appreciated assets*, or other personal property.

* Gifts of Appreciated Property

1. When stocks, bonds, mutual funds, real estate, and other appreciated assets are sold, tax is due on any capital gain.

2. One way to avoid the capital gains tax is to make a charitable gift of the assets.

3. When you give appreciated property that has been held more than one year, you may take a tax deduction based on the current value of the property rather than just its cost.

4. It is usually best to donate property that would be subject to the highest tax if sold.

5. The combined benefits of bypassing capital gains tax, receiving an income tax deduction, and making a charitable gift can be very gratifying.

Gifts after our lifetime:

• Do you have an executed will?

• Have you included your church in your will, as well as your family and other heirs?

• Gifts through a will have proven to be a convenient way for individuals to contribute assets to their church. The will makes it possible to maintain complete control over assets during one’s lifetime, and then provides assets specified by the will to the church after death.

• This can be in the form of a specific amount, a particular property, a percentage of the estate, all or a portion of the residue, or “what’s left” after providing for one’s heirs.

• There are also ways to make charitable gifts that will pass along to our church at the time of one’s death, while also receiving a welcome addition to one’s retirement plan.

• For example, if you have assets that are yielding little or no income, using these to fund a charitable gift plan will provide an income stream throughout your lifetime. In this way your assets do “double duty”, a gift to the church and income for you.

• The most common of these gift plans is a charitable gift annuity. (Look for more on this plan for giving in the next issue of The Link.)

What can you do?

• Take some time and personally consider the questions posed in this article.

• Hopefully you will conclude that you do wish to create some legacy for Christ’s Lutheran Church through its Endowment Fund, and then determine when and how is best for you.

If you have questions or need additional information, you can contact any of the members of the Endowment Task Force or a financial advisor or attorney.