Planned Giving

What is Planned Giving?
Planned giving, also known as gift planning or legacy giving, is a donor's intention to contribute a major gift beyond their lifetime in support of an organization. Donors make arrangements in the present but for the future. It is a powerful way to leave a legacy, and this gift costs donors nothing during their lifetimes.

Having a will, trust, or other estate plan in place not only avoids confusion but can also support your parish.

There are several options in Planned Giving- Bequests are the most popular
A bequest is a gift (typically cash; personal property; real estate; stocks; or bonds) left behind in a will or trust for a group, individual, or organization. Your options could include gifting:
• A percentage of one's estate
• A specific amount
• Specific property
• Part or all of the residue of one's estate - whatever is left after all beneficiaries have received their bequests
• A combination gift arrangement, such as a percentage plus the residue

*Bequests are not payable until death, so they do not affect your assets or cash flow during your lifetime. And you can change the provisions of your will or a revocable trust at any time.
*All bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes resulting in a larger inheritance for your heirs.
*Charitable bequests are private. Your will is not filed or made public until your death.
*Trusts are never made public unless you instruct otherwise.

It’s important to cite your beneficiary(ies) in the correct way

• To name our parish: Our Lady of Perpetual Help Roman Catholic Parish Glendale (Tax ID: 35-2350718), 5614 West Orangewood Avenue, Glendale, Arizona 85301

Wording bequests:
Please consult an attorney or other qualified professional to ensure accurate wording in your will or trust. Below is some basic bequest language to assist you and your attorney in preparing your estate plan.

A general bequest will be worded similarly to “I give, devise and bequeath to “Our Lady of Perpetual Help Roman Catholic Parish Glendale," 5614 West Orangewood Avenue, Glendale, Arizona 85301 (Tax ID 35-2350718), (dollar amount, percent, residue, securities or property as described) for its general use and purposes as directed by its pastor.”

When possible, we prefer that donors make general bequests, which provides the pastor the most discretion in determining how the gift may best be used for the benefit of the parish. However, if you would like your bequest to be used for a specific purpose, we recommend the language below, which identifies your specific goals but provides flexibility if it is no longer possible for us to use your gift as you originally intended:

A designated or restricted bequest will be worded similarly to “I give, devise and bequeath to “Our Lady of Perpetual Help Roman Catholic Parish Glendale," 5614 West Orangewood Avenue, Glendale, Arizona 85301 (Tax ID 35-2350718), (dollar amount, percent, residue, securities or property as described) for the specific purposes of (specific purpose); or, if in the judgment of the pastor it is not possible to use this bequest to accomplish this specific purpose, then this bequest may be used for such purpose or purposes as the pastor determines is most closely related to the specific purpose of my bequest.”

Frequently Asked Question:  
What if I already have written my will or trust?

You can amend a will or trust to make a new gift.  Your attorney can prepare a simple document, called a codicil or amendment that adds a new charitable bequest while reaffirming the other terms of your will or trust.

This information is not intended as tax, legal or financial advice. Gift results may vary. Please consult with your personal financial advisor or legal representation regarding your personal tax and financial situation.