A planned gift is one which is legally established during the donor’s lifetime with the principal benefits generally not accruing to the Catholic school until some future date. Planned gifts include bequests, life insurance, charitable gift annuities, pooled income funds, real property and charitable trusts.
If you have questions about any of the types of planned gifts noted below please contact the principal of St. Lawrence School.
A charitable bequest is established by an individual in his/her lifetime as part of this individual’s last will and testament. The bequest allows for a gift of a certain amount or percent of an estate, or all or part of the residue of an estate, to be given to a qualified, charitable institution at the death of the individual.
A gift of life insurance guarantees the payment of a fixed sum of money at a particular time. Gifts of life insurance can be made either with new policies or with presently owned policies which are no longer needed for a family’s protection. There are tax savings when a Catholic school is named as a beneficiary with either type policy.
The charitable gift annuity is a transfer of money or property to a Catholic school in return for the school’s agreeing to pay the donor or designated annuitant(s) a fixed income for life. In this case, the donor receives an immediate tax deduction.
A pooled income fund is established by a Catholic school as a fund to which donors may transfer money, securities or both. The funds are poled with the funds or other donors and then invested. The beneficiaries receive a proportionate share of the pooled income earnings during their lifetime; thereafter, payments terminate and the Catholic school may remove the donor’s gift from the pooled income fund and use it for its established purposes.
A charitable remainder trust is a life income trust established by the donor transferring property to a trust. The donor or other beneficiary receives annually, a fixed dollar amount. At the end of a specified period of time or upon the death of the donor or beneficiary, the Catholic school receives the "remainder" of the resources in the trust.
Charitable Lead Trusts
A charitable lead trust is established by a donor transferring property to a trust, specifying that a Catholic school will receive income for a period of years or for the life of the donor