INVESTING IN ETERNITY
"Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also." Matthew 6:19-21
When you take stock of your financial assets you may be surprised at how much you’ve accumulated. Once you added your home equity, retirement, bank and investment accounts together, it may be a number that surprises you, pleasantly!
Making a gift to the BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC at your passing will allow you to leave an eternal legacy and even reduce your taxes!
Our desire is for you to discover the joy of giving to those who need your help far into the future.
Retirement Accounts, Life Insurance & Annuities
Do you know who you’ve named as your primary beneficiary on your IRA or 401k?
How about your contingent (secondary) beneficiary? You should double check!
Retirement accounts are tax-deferred; you don’t pay the taxes until you withdraw the money.
Annuities work in a similar fashion.
Life Insurance is income tax free.
All of these may also be subject to estate taxes if your estate is large enough at your death.
None of these assets flow through your Will or Living Trust, they go directly to your beneficiary.
Please consider naming us, as your primary or contingent (secondary) beneficiary on your
retirement accounts, life insurance (even the group life insurance you get at work) and any
annuities you may have.
By naming THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC, as your beneficiary, you control and spend it through your lifetime. You can even name several beneficiaries by stating a percentage amount. Because these accounts each have separate beneficiary forms, you will need to use the form provided by that institution, many of which allow you to make these adjustments on-line, or through your HR Department.
When you pass away, we’ll receive the amount you’ve specified completely TAX FREE!
Here’s how:
Primary Beneficiary:
THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC(__%)
or
Contingent Beneficiary:
THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC(__%)
Life-Time Gifts from IRAs
If you are at the age where MUST take IRA distributions, you can give up to $100,000 per year to THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC TAX FREE. It is called a Qualified Charitable Distribution or QCD. Please contact THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC for more details on this popular technique!
Wills and Living Trusts
Whether you use an attorney or a computer generated service like Legal Zoom to prepare your Will or Living Trust, but naming THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC, your gift of any amount or percentage helps support our mission far into the future.
Charitable gifts must be made from your estate or living trust with specific language. Here is the suggested bequest language:
“I give and bequeath to THE BROTHERS AND SISTERS OF CHARITY AT LITTLE
PORTION, INC. ($ ____ or ___ %).”
Gifts of Stock
You can also give us stock directly. Your financial advisor can help you this, and you can avoid paying unnecessary taxes too.
Bank and Investment Accounts
You can also transfer your bank, credit union and regular (Non-IRA) accounts to us. You can do this by putting a POD (Payable on Death) or TOD (Transfer on Death) designation on those accounts to THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC. Ask your financial institution for the assistance with this. They will be happy to help, and we’ll be happy for the help!
Gift of Real Estate
With a gift of real estate to THE BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC, you can further our mission and lower taxes too!
Before you begin the process of donating real estate, please contact us to make sure we will be able to accept your generous gift.
Gift Annuities and Charitable Trusts
A Charitable Gift Annuity is a way to make a donation to BROTHERS AND SISTERS OF CHARITY AT LITTLE PORTION, INC at your death, receive a lifetime of income and get an income tax deduction.
There are also special trusts called a Charitable Remainder Trust which works much like a Gift Annuity but is more suitable for larger gifts.
There are other creative options available. Please let us know if you have any questions.
Our Tax ID Number is 35-151-7772
Thank you for considering us as a beneficiary at your passing.
You can trust that we will use your precious gift for the good of the Kingdom of God. You will be remembered by our entire community at Mass and daily prayer.
The Brothers and Sisters of Charity
at Little Portion Hermitage