The Memorials and Bequests Committee will work with the Rector in streamlining an understanding of Future Gift Legacy which provides a way that members can make a significant contribution, often allowing for much larger gifts than can be made in one’s lifetime. (It is always recommended to seek experienced legal and financial counsel in planning such gifts.)

Memorials and bequests contributions may not be used for the general budgeted expenses of the Church.

The Memorials and Bequests Committee function in the following areas:

1. Bequests through Wills or Trusts to the Church: Specific bequest may be a particular sum of money or a specific asset that can be left for the Church. Residual bequest which allows the Church to receive a percentage of a member’s estate, or the residual portion that remains after first taking care of their loved ones. Contingent Bequest which allows the Church to receive a bequest, in the event that other beneficiaries are no longer living.
2. Life Insurance Policy: Designate the Church as the owner and beneficiary of a paid-up life insurance policy. Alternately, the Church may be a percentage beneficiary or contingent beneficiary of a policy. This type of gift provides a member with tax benefits now and in the future.
3. Retirement Plan Beneficiary Designations: Designate the Church as the beneficiary of many types of retirement plans. Using a beneficiary designation form avoids potential tax liabilities that may occur if leaving them through a will.
4. Trusts: These provide income, charitable tax deductions and avoid capital gains on the sale of appreciated property for donors, while benefiting the Church.
5. Endowment Gifts: This would ensure the continuation and stability of the Church, its mission and its programs, and to promote and facilitate its ministries. It would also help meet unbudgeted opportunities to expand the mission work and ministry of the Church to our congregation, our community, and the world.
6. Memorial Gifts: Provides the opportunity to give in a particularly meaningful way. Families often request that, in lieu of flowers, a loved one be remembered with a memorial donation. These gifts can range from a small contribution to an endowed memorial fund in memory of the deceased loved one. Undesignated gifts are also welcome, and they allow the Church to use the funds to fulfill whatever need is most critical at the time the gift is made.