Estate Planning

Have you ever made plans for the distribution of your assets if something happens to you?

Taking the time now to plan for your future and that of your loved ones can be a fulfilling experience that will pay dividends for many years to come.  An effective long-range estate and financial plan can enhance your peace of mind today, but allow you to leave a lasting legacy beyond what you may have thought possible.

What is Estate Planning?

It is a question we should all think about, but is a subject that often brings a sense of uneasiness.  Some of us may be unaware of what it is or believe we don’t need it.  In reality, estate planning makes us ponder the reality that eventually, we will have to face the prospect of our own life expectancy.  In its simplest form, estate planning is a means to ensure that your property is passed on in the most effective manner to your family, friends and organizations you support.

Why would I want to do Estate Planning?

It is a common misconception that only those with large estates need worry about estate planning.  This is not true.  Estate planning covers the process of accumulating, managing and distributing property over the course of a lifetime.  It gives an individual and their family the assurance of a quality plan that prepares them for financial challenges that can confront them during their lifetime.

What are the benefits of Estate Planning?

Estate planning enables us to ensure that our loved ones and St., Joseph Parish may benefit from our legacy through planned gifts.  A widely recognized benefit of estate planning is the tax benefit that can be obtained, however, may other advantages can be recognized.  Estate planning prepares and assists us and our family in coping with such challenges as dying too soon, outliving our income, emergencies, and mental and physical disability.

What are Planned Gifts?

Planned gifts are gifts designed to enable us to support causes and organizations we strongly believe in, while protecting our assets and allowing them to pass to our loved ones in a less complicated manner. They also can immediately impact an organization or can be deferred as a legacy of future support.  Planned gifts can be made by anyone, regardless of the size of their estate.

Most of us support different causes through gifts of financial support.  We do this because we strongly believe in the worth and outcome the cause can bring.  Although many of us would like to support our causes to a greater extreme, we are unable to do so out of concern for financial obligations in the present, planned gifts to our favorite organization than we thought possible.

In What forms do Planned Gifts come?

You can support St. Joseph Parish and other favorite cause(s) through a variety of vehicles that support the organization and allow us to enjoy a variety of financial benefits.  Many mechanisms allow for a direct pass through of assets to include bequests and life insurance.  Others offer the flexibility of life income while supporting our favorite cause.  These include:

• Charitable Remainder Annuity Trusts
• Charitable Remainder Unitrusts
• Poled Income Fund
• Charitable Gift Annuity
• Charitable Lead Trust
• Life Estate Agreement
• Revocable Living Trust Agreement

How do I get more information about Planned Giving/Estate Planning?

Many skilled professionals are available to help you with your plans.  These professionals include: attorneys, trust officers and financial planners.

How would I get more information about a planned gift to St. Joseph’s?

We will be holding a number of informational meetings for St. Joseph parishioners to learn more about how they can give a lasting gift of support.  You can also call Father Gossman at 377-4869 for additional questions.