You can leave a lasting legacy to the Christian Century magazine by bequeathing a specific amount of money or a portion of your estate to the Christian Century. Here are some options to consider in estate planning:
Planned Giving with Lifetime Benefits for the Donor
A gift annuity is an arrangement whereby you, the donor, give a sum of money or property to the Christian Century and receive a fixed, lifetime income (or income that covers the lives of two people) from the gift. You receive an immediate income-tax deduction in the year of the gift.
Deferred Gift Annuity
Deferred annuities allow you to make a gift to the Christian Century and defer income to a later designated date, while still receiving an income-tax deduction. Annuity rates are much higher on deferred gift annuity agreements, making them an excellent retirement supplement.
Charitable Remainder Trust
A charitable remainder trust is an irrevocable trust set up by you to pay income to yourself and/or your beneficiaries. The amount paid is based on either the initial fair market value of the assets or on the annually revalued fair market value of the assets. A trust can be funded with cash, real estate, stocks, bonds, and certain other assets. You receive an immediate income-tax deduction upon the creation of the trust.
Since each charitable remainder trust is a separately managed trust, the charitable giving alternative can be customized in many ways to produce the particular benefits most attractive to you. A customized investment approach can be used to make a charitable remainder trust function as a retirement savings vehicle.
Planned Giving Following Death
Wills & Bequests
Remembering the Christian Century as a beneficiary in your will or trust offers the opportunity to make a more substantial gift than what might be possible during your lifetime. It allows for the preservation of capital during your lifetime. The amount can be amended as circumstances change. Postdeath income and/or estate tax benefits are often available in connection with such gifts. You may consider:
• Specific bequest by dollar amount
• Specific bequest by a percentage of your estate
• Bequest with the Christian Century as contingent beneficiary
Revocable Living Trust
Using a revocable living trust in your estate plan allows you to avoid probate. This type of agreement offers the following advantages:
• Reduces administrative costs
• Provides for prompt distribution of your estate
• Avoids interruption of income to heirs at grantor’s (estate owner’s) death
• Provides for the private distribution of estate
• Allows the estate owner to see how the trust will work
• Provides the capability to transfer management without court involvement
A revocable living trust does not reduce income or estate taxes. It can, however, provide for and fund gifts directly to a charity or a charitable remainder trust for the benefit of loved ones. It does not eliminate the need for a will.
A revocable living trust agreement is drafted by an attorney and signed by the principals involved. The trust is funded by transferring a title to the trust during one’s life. Probate is avoided only to the extent that nearly all assets are transferred to the trust.
Use of Retirement Benefits
You may have retirement benefits left at death that have not been used during retirement. The Christian Century can be named as a postdeath beneficiary. No income tax will be paid on the untaxed benefits passing to the Christian Century.
Life Insurance Gifts
Life insurance policies provide a unique way to make a charitable gift during life but effective at death. You may consider:
• A life insurance policy that is no longer needed for its originally intended purpose. The policy may have originally been purchased for people who no longer need support. This option may provide a very attractive charitable income tax deduction when assigning ownership to the Christian Century.
• A life insurance policy that designates a percentage of policy benefits to the Christian Century. Your estate may claim an estate tax deduction after death.
Other ways to give to the Christian century
Gifts come in many ways and sizes:
• Outright gifts, including cash (by mail and online)
• Appreciated securities such as stocks, bonds and mutual funds, real property, or collectibles
• Qualified retirement plans such as IRA, Keogh, 401k, and 403b
• A tithe from your estate
• Pledged donations
• Memorial gifts
Thank you for considering a gift to support the future of the Christian Century. All gifts are used to support and enhance the mission of the Christian Century.
For more information, call us at
(312) 263-7510 x228
or e-mail us at email@example.com