Estate Giving

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Do you want to support the Abbey and make a difference now and in the future?

Donations through planned and estate giving can benefit the Abbey now or in the future. Create a lasting legacy to the values and ideals that are the tenets of your earthly life by remembering the monks of Saint Benedict Abbey through planned giving in a will, estate plan, charitable trust, or other type of deferred charitable gift. Your generosity means a great deal to us and will, over the years, provide a strong financial foundation to help us fulfill our mission in many ways.

Planned giving is not reserved only for those with great wealth. It is as simple as adding a bequest to the monks of Saint Benedict Abbey in your will. A planned gift or bequest, be it 2% or 20% of your total assets, will ensure that we will have the resources needed to continue our apostolic work for generations to come.

When you choose to make your gift, please contact us as we desire to recognize your contribution and express our gratitude to you personally for your generosity. May God reward you!

Charitable Bequest—We hope you will consider giving a gift to Saint Benedict Abbey in your will or living trust. Including a charitable bequest in your will is a simple way to make a lasting gift to your community.

Charitable Gift Annuity or Charitable Remainder Trust—Enables you to receive a fixed income stream throughout your lifetime and receive a partial tax-deduction while making a donation to the Abbey. Upon your death, the Abbey as one of the benefactors would receive the remainder of the annuity

Charitable Lead Trust—Enables you to help the Abbey for an established time period, during the trust’s term. When the trust terminates, the remaining assets are transferred to you or your heirs, often with significant transfer-tax savings. You receive a tax-deduction during your lifetime on the current value of the gift paid to charity.

Retirement Plan Assets—IRAs and other tax-deferred retirement plans, such as 401(k)s are simple ways to make a lasting gift to the Abbey. They may be subject to income, estate, inheritance, and other taxes. Many people may not realize that the combination of taxes on IRAs and retirement accounts can be over 70% for transfers to children and over 80% for transfers to grandchildren. Transferring these assets to a non-profit is a way of avoiding the tax consequences, provide you with a tax-deduction and a benefit to the Abbey.

Life insurance—Provides a simple way for you to give a significant gift to charity, with tax benefits that you can enjoy during your lifetime. When you assign ownership of your life insurance plan to the Abbey and also name the Abbey as the beneficiary, you will receive an income tax charitable deduction (available under most circumstances); you realize tax savings from use of the deduction, and these savings can be invested for future income; and you reduce your future estate tax liability.

Real Estate—Give your personal residence as a gift, occupy the residence and receive an income tax charitable deduction for the present value of the remainder interest during your lifetime. With a retained life estate, you deed a personal residence or other property to the Abbey now. You retain the right to occupy the home for life and continue to pay real estate taxes, maintenance fees and insurance on the property. In addition, you can later decide to rent your home or make improvements to it. After your lifetime – and the lifetime of your spouse or another person you choose to retain rights to live in the home – we take possession of the property. You qualify for a sizable income tax deduction in the year the gift is made. The amount of your tax deduction is based, in part, on your age and the value of the property. Other regulations apply.

The key to leaving a lasting personal legacy: By allowing your gift to grow and be invested over time, regardless of the amount, the original amount will be given away many more times than the original gift, and it will continue to be given for generations to come.

Permanent funds give donors the confidence to know that there is a long-term commitment to addressing the issue they care about.

With a permanent source of funding, combined with leadership that is focused on collaboration and partnerships, diverse and critical opportunities can be addressed with the perseverance and long-term view that is needed to build strong communities.

We thank you for your past support and continued dedication to Saint Benedict Abbey. We invite you to pray with us daily.