GIFTS THROUGH YOUR ESTATE

A gift through your estate can provide significant support to the Salesians of Saint John Bosco. The gift can be made through a will or a trust, and both documents enable you to distribute assets to individuals and nonprofit organizations in the amounts or proportions you indicate.

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A gift through your estate provides the following benefits:

• The opportunity to make a major gift while preserving assets during life,
• Reduction in federal estate taxes,
• The opportunity to designate the gift to a specific program of the Salesians.

All assets including cash, securities, real estate, and tangible personal property may be transferred to the Salesians through your estate. A gift through your estate can be made in the following ways:

Specific Bequest

The Salesians receives a specific dollar amount, a specific piece of property, or a stated percentage of the estate. This is one of the most popular forms of bequests.

Residuary Bequest

The Salesians will receive all or a stated percentage of an estate after distribution of specific bequests and payment of debts, taxes, and expenses.

Contingent Bequest

The Salesians will receive part or all of the estate under certain specified circumstances.

NAMING THE SALESIANS AS BENEFICIARY

Naming the Salesians of Saint John Bosco as a beneficiary on your life insurance policy or retirement accounts is an easy and convenient was to remember the Salesians in your estate plans. Some of these options may result in tax advantages to your estate. Some options for this type of planning include:

• Make a gift of an existing life insurance policy.
• Establish a new policy and name the Salesians as the owner and beneficiary of the policy.
• Name the Salesians as the beneficiary of your 401(k) or IRA.
• Use life insurance to replace the value of gifts to the Salesians.

ABOUT LIFE INCOME GIFTS

A donor may make a gift to the Salesians of Saint John Bosco and receive direct financial benefits. The benefits include an income for life for the donor and/or the donor’s spouse and a charitable income tax deduction, in addition to the satisfaction that comes from making a gift.

Charitable Remainder Trusts

Charitable Remainder Trusts (CRT’s) produce substantial financial and tax benefits for the donor, as well as gifts to charitable organizations. CRT’s provide an income to donors and beneficiaries, and upon the death of the beneficiaries or the termination of the Trust term, the remainder is transferred to benefit one or more nonprofits.

If the donor funds the trust with appreciated securities, the donor will avoid capital gains taxes. The donor may choose the trustee to manage the trust. The trustee may invest in almost any investment, including tax-free bonds. The CRT pays the donor a predetermined percentage of the fair market value of the trust’s assets as revalued annually. If the trust’s assets increase, the donor receives a larger payment, providing a hedge against inflation. 

A trust may be established that provides for both the Salesians and other beneficiaries.

GIFTS OF REAL ESTATE

You can make a gift of commercial or residential real estate to the Salesians of Saint John Bosco and receive substantial financial benefits. In some cases you may want to give the property outright to support the purposes of the Salesians and qualify for a charitable income tax deduction based on the appraised value of the property. In other cases you may use a home or land you no longer want or need to fund a life income gift.

Through a Retained Life Estate, a donor makes a gift of a personal residence to the Salesians of Saint John Bosco and the donor retains the right to live in the home for life. Making a gift of property, while retaining a life estate, provides the donor with a charitable income tax deduction based on the value of the property, the age of the donor, and his or her life expectancy.