Purpose
This
information has been prepared to assist you in making a planned or legacy
gift to St. James UMC. Presenting a gift to the church beyond regular
weekly giving, is one way each of us who love this church can make a
commitment to its future. We hope that you will take a few minutes to
read through this material and familiarize yourself with the types of
gifts that St. James encourages you to consider.
What
Is A “Planned Gift”?
Planned Gifts are generally made from accumulated assets in a carefully
considered manner and in an amount that expresses one’s commitment but
does not impair the family’s financial well-being. This means giving at
the appropriate time, considering personal and family requirements, the
ministry’s needs and tax considerations. Further, it involves deciding
on the best asset to give which can include securities, or cash.
These gifts can be made
in the form of
bequests, life insurance proceeds or
outright gifts.
Giving Through Your Will: Bequests
A Will
is one of the most important documents you will ever create. A will is
also the most commonly used method for making charitable planned gifts.
Wills give individuals the opportunity to:
-
Specify the distribution of property
-
Direct the timing of distributions
-
Choose the individual or institution to carry our
your wishes
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Preserve as much of the estate as possible through
tax strategies
-
Easily and proactively include your church or a
ministry as a bequest
St. James’ Trust Funds
The
church has established several types of Trust Funds for your
consideration. Each of these funds allows the church to address a
particular part of its mission and ministry, and to help assure the
long-term viability of the spiritual, outreach, and physical
aspects of the church.
The General Purpose Trust Fund
The
General Purpose Trust Fund is intended to provide a reservoir of
unrestricted and undesignated funds which may be used to defray any
legitimate expense of the Church. It may be used to support operating
costs, to defray all or portions of any major repair or construction
activity, to provide additional funds for memorial projects, or to fund
activities or projects not otherwise considered here. It is not
intended to be used for everyday operating costs or routine minor
maintenance, but if the need arises, the Church Council may elect to
expend these funds for routine expenses.
The Memorial Trust Fund
The
Memorial Trust Fund shall be used to provide esthetic, charitable, or
community enhancements for the Church.
By esthetic enhancements is meant projects
which are not repairs or other purely functional undertakings but
enhance the appearance and/or religious significance of St. James.
By charitable enhancements is meant support or
establishment of some larger mission-type activity.
By community enhancements is meant activities
that promote evangelism within the community.
The Facility Improvement Trust Fund
The
Facility Improvement Trust Fund is intended to provide a source of
funding which can be used for new minor construction or for major
repairs or reconstruction of the church or parsonage. It is not
intended for routine maintenance and repair activity.
The Ralph Somes Music Trust Fund
The
Ralph Somes Music Trust Fund is intended to provide a funding reservoir
for expenditures that support the music ministry of the Church.
Details of the St. James Legacy and Planned Giving Program are contained
in four basic documents that can be viewed and printed out by clicking
on them.
Anyone interested in planning a gift to St. James is encouraged to
discuss this with the Chairperson of Trustees. The Trustees are charged
with the responsibility of overseeing and managing all legacy gifts to
the church, and are in the best position to give you advice and
assistance with your planned gift.
There is also a great web-based resource available from the United
Methodist Foundation of New England to assist you in your gift
planning. Be sure to visit
http://www.giftlegacy.com/plgive_main.jsp?WebID=GL2007-0974 for
additional ideas and information.
Some important
things to remember
-
Preparing an estate plan is good Christian
stewardship - saying thanks to God, expressing our love and concern
for our family and showing charity toward others.
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If you have no will or trust, state laws will
determine who inherits your property. State laws do not include
churches or charities as beneficiaries.
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Did you know there is no limit to the size of a
charitable gift through your will? No matter what its size, the gift is
deductible for federal estate tax purposes.
-
Giving to your church through your will or trust is
the most common way to continue your support beyond your lifetime.
Please include your church in your estate plan.
-
Naming the church as a beneficiary on a life
insurance policy can lead to larger future gifts than you think you
can afford now.
What legacy will you leave?
Churches can not wait until people grow spiritually so they will give,
some people cannot grow spiritually until they decide to give. And
asking people to improve their treasure management is asking them to
grow spiritually - the two matters cannot be separated.
Eugene Grimm,
Generous People |
