Leaving Your Legacy with Planned Giving
St. Pius X Legacy Society
The St. Pius X Legacy Society was established in 2005 to recognize the generosity of individuals and families who have included Pius X High School in their wills or other form of planned giving. Membership to the St. Pius X Legacy Society is available to anyone who informs the Pius X Foundation that they have included Pius X High School in their will or made our school the beneficiary of any other form of deferred gift. These gifts help ensure our future and can provide significant benefits to the donors. For more information, contact Courtney Johnson or call 402-488-1046.
About Planned Giving
Why should we be thinking and talking about Planned Giving?
This podcast is part of a series produced by the Pius X Foundation to help people know how to start talking about planned giving, and what they should consider when creating a plan.
Cash – Your gift by cash/check/credit card is an investment in our school and our ministry of Catholic education.
Stock, bonds, mutual funds – Stocks and securities provide an immediate gift to the Pius X Foundation and are a wonderful way to give, especially if they have appreciated in value. You receive two tax benefits, an income tax deduction for the fair market value of the stock (not just the original investment) and avoidance of any capital gains tax on the stock’s appreciated values. Donating stock removes it from your estate, saving you possible estate taxes.
Will Bequests – You can name the Pius X Foundation as a beneficiary in your will by leaving a gift of a percentage of your estate, a specific amount or a residuary amount.
Gift Annuities – You can make an irrevocable gift to the Pius X Foundation and it provides income to you for life.
- Gift annuity rates range from between 5 and 11 percent, depending on your age.
- If you have stock or another appreciated asset you can contribute it to a gift annuity and avoid capital gains.
- You receive annual payments.
- You fund it with cash, securities, tangible property or real estate.
- Your annual income depends on your age.
- You receive an income tax deduction for a portion of the value of your gift the year you make it.
- If you desire to make a gift but need stable annual income, a gift annuity is an option.
- The asset you use to fund your gift annuity is removed from your estate, saving you possible estate taxes
Life Income Agreements (trusts, charitable gift annuities) -You can make an irrevocable gift and receive income payments similar to a gift annuity. The difference is that a charitable trust is a larger gift ($100,000 or more) and offers you more options.
- You can receive quarterly, semi-annual or annual payments.
- You name a professional trustee to manage the trust or you can name yourself as trustee.
- You can create a trust that allows you to make additional payments when you desire or have the financial need.
- You can create the trust to last for a period of years.
- You receive an income tax deduction for a portion of the value you make the gift in the year you make it.
- The asset you use to fund the trust is removed from your estate, saving you possible estate taxes.
NOTE: This information is not intended as legal advice. It is essential for your will and any charitable bequests to be done professionally and legally. For questions specific in nature, it is important to always consult your attorney and professional advisor(s) before making a decision.
Beneficiary of Life Insurance – You can donate either a paid up policy, or start a new policy. In both cases, designate the Pius X Foundation as the owner and beneficiary of the policy, or the Foundation can be named as a secondary beneficiary, after your spouse or your children. A paid up policy gives you a tax deduction equal to the cash value of the policy. Donating a new policy allows you to deduct the full value of the annual premiums you pay. When you make the Pius X Foundation the owner and beneficiary of the policy, it removes the life insurance from your estate, saving you possible estate taxes.
Real Estate – Donating real estate gives you an income tax deduction for the fair market value of your property.
- If you own your home, you can create a life estate. You’ll live in your home and enjoy full use of it while you are alive. Upon your death the Pius X Foundation assumes ownership of your home. You can claim a tax deduction in the year you create the life estate.
- If you own a piece of property that currently provides little to no income for you, create a charitable trust with the real estate as the primary asset. You avoid any capital gains on the real estate when it is eventually sold. You receive a tax deduction in the year you make the gift. You turn a former, low-income producing asset into an asset that provides you with sufficient income.
- Donating real estate removes the asset from your estate, saving you possible estate taxes