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Planned Giving Programs |
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For further information about any of the following gift vehicles, please contact: Sister Margaret E. Mahoney, RSM, CFRE, Director of Planned Giving, Development Office, Catholic Diocese of Wilmington, P.O. Box 2030, Wilmington, DE 19899-2030; (302) 573-3125, or via e-mail at mmahoney@cdow.org
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Bequests
A will is a meaningful way to make a charitable gift of lasting value to the Diocese of Wilmington for the benefit of the Diocese, your local parish, Catholic Charities or a specific program. Through a bequest provision, you can designate a specific amount of money, a percentage of your estate, or the remainder of your estate after other bequests are satisfied. Adding a codicil to an existing will is a simple process that begins by making your intentions known to your attorney. Sample codicils and free brochures are available through the Planned Giving Office. Please contact Sister Margaret Mahoney, RSM at mmahoney@dcow.org or refer to contact info above.
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Charitable Gift Annuity
A charitable gift annuity is a simple life income agreement between a donor and the Diocese of Wilmington. In exchange for your gift, you receive fixed payments for your lifetime and/or the lifetime of another person. You are entitled to a partial tax deduction in the year of the gift, and a portion of each payment is tax-free for a period of years as well. The size of the payments is based on the amount of the gift and the annuitant's age.
For a free brochure on Charitable Gift Annuities, please contact Sister Margaret Mahoney using the information above.
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Charitable Remainder Trusts
Charitable remainder trusts can result in significant support for the important work of the Diocese of Wilmington, while at the same time, securing your financial future and reducing taxes for you and your heirs. Through a charitable remainder trust, you can provide income for yourself or a loved one and benefit the Diocese as well. You specify the amount of payments to be distributed (at least 5% per year), to whom payments are to be paid, the duration of payments (a period of years or the beneficiary's lifetime) and the charity that will receive the remainder. The trust may be set up for the lives of the beneficiaries or for a term of up to 20 years.
To calculate how a Charitable Remainder Trust would benefit you and your family, please click here. Planned Giving Calculator
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Charitable Lead Trusts
With a remainder trust, you keep the income and give the Church the rest at the end of the trust term. With a lead trust, you give the Church the income and, at the end of the trust term, the rest comes back to your family. Whether you set this up during life or through your estate plan, a charitable lead trust can help you give to the Diocese and transfer assets to family with remarkable estate tax savings.
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Life Insurance
Life insurance may be an especially attractive gift vehicle if you own a policy that is no longer needed for its original purpose. In addition, those who qualify for low-cost premiums may find it more affordable and convenient to plan a significant gift to the Diocese of Wilmington using life insurance. By naming the Diocese of Wilmington as the owner and beneficiary of a life insurance policy, you can take an immediate tax deduction for the accumulated cash value of the policy (if any) and a future deduction for any subsequent premiums that you pay.
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Gifts of Real Estate
Virtually any real property - a home, farm, office building, or land - can become a gift to the Diocese of Wilmington. You can take a tax deduction for the full fair market value of the real estate donated and also avoid any penalty capital gains tax. It's also possible to retain life interest and receive a partial tax deduction while you continue to use this property.
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Gifts from an IRA, 401(k) or Other Retirement Plan
This is often the preferred gift from a tax standpoint and one of the easiest gifts to accomplish! Naming the Diocese of Wilmington as a beneficiary of a qualified benefit plan allows you to avoid both the income and the estate tax which would otherwise be payable on these types of accounts. For a free brochure on offering a gift from a Retirement Plan, please contact Sister Margaret Mahoney using the information above.
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Gifts from Financial Accounts
(bank accounts, stock accounts, mutual funds, etc.)
For many people, it is most advantageous to name the Diocese, your local parish or Catholic Charities the beneficiary to receive funds from certain accounts upon the death of the owner. Individuals are not giving the funds away when they still might need them, they do not have to change their wills or trusts and yet they can be assured that their gift will go directly to their Church.
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