Leave a legacy of charity to the Franciscans with the stroke of a pen.
You can support the Franciscans with a stroke of the pen by naming the Province of St. John the Baptist as a beneficiary of your IRA, 401(k), life insurance policy or donor advised fund. Beneficiary designations are simple to arrange, cost nothing to make now and remain under your control during your lifetime.
Here’s an example…
“Mary would like to make a gift to help the Province of St. John the Baptist continue its missionary work, but needs her income and savings for her living expenses. As she does not have children, Mary decides to leave her IRA to the Province. Mary requests a beneficiary designation form from her IRA custodian. She names the Province as the primary beneficiary. She is pleased to make this significant gift without having to dip into her savings or income - and to know her IRA gift will pass to the Province tax-free.”
As IRA’s and 401(k)’s are taxed differently than other assets, they may carry significant tax liability when passed to heirs. Leaving a percentage of your IRA or 401(k) to the Province of St. John the Baptist, and other, less tax-vulnerable, assets to loved ones can reduce this liability for your heirs. You can also name the Province of St. John the Baptist as the full or partial beneficiary of a life insurance policy you no longer need, or your donor advised fund.
To learn more, contact Colleen Cushard, Co-Director of Franciscan Ministry & Mission, at (513) 721-4700 or firstname.lastname@example.org
Posted in: Estate Planning