Bequests
Established in 1983, the Fund for Growth (the endowment), supports financial resources for ministry today and tomorrow. The Fund amplifies your current gifts and pledges and helps to ensure that St. Andrew’s ministries of sacrament, service, education and community remain vibrant today and tomorrow.
St. Andrew’s is fortunate to be the recipient of several future gifts from members. Are you passionate about supporting St. Andrew’s even after your lifetime? Please consider a future gift to the St. Andrew’s Fund for Growth in your estate plans for your Will, Living Trust or as a beneficiary of your insurance policy or retirement accounts. Your gift ensures the community and ministries of St. Andrew’s endures for generations to come.
It’s easy to do with a bequest or beneficiary designation. Just name St. Andrew’s as a beneficiary to receive assets such as retirement plans and life insurance policies after you are gone.
Bequests are the most common forms of planned or deferred giving. Another form, right up there with bequests, is the beneficiary designation. A bequest generally involves a set of instructions in your trust or will for the disposition of the assets comprising your estate. Beneficiary designations are even more simple and can sometimes be more tax-wise by preventing assets from going into your estate, whether your estate is taxable or not.
A retirement plan or IRA is typically the largest source of assets that generate taxable income when paid to a beneficiary. More than half of your retirement plan assets could be subject to income and estate taxes. Therefore, if you are considering a gift to St. Andrew’s after your lifetime, it is usually better to leave taxable assets to us and give nontaxable assets (such as stocks and real estate) to your loved ones.
Maybe you once needed life insurance for your loved ones, but now your family’s requirements have changed. Why not use the insurance policy to help advance St. Andrew’s? Not only will you make a substantial gift at a relatively low cost, but it is revocable at any time should you need to change your plans. You can designate St. Andrew’s as the beneficiary for a percentage of your life insurance policy’s death benefit.
Next Steps
- Contact the Office for additional information on bequests or beneficiary designations and how they can help support St. Andrew’s.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name St. Andrew’s in your plans, please use our legal name and federal tax ID.
Legal Name: St. Andrew’s Episcopal Church, Fullerton, 1231 E. Chapman Ave., Fullerton, CA 92831, Federal Tax ID Number:?95-6006398.
- When you have updated your trust or beneficiary designations, please take a moment to tell the Rector and Vestry about intentions.