Planning Your Gift to Catholic Charities  -  A Legacy of Social Services for Herkimer County

 

The term “Planned Giving” is used to describe a wide variety of giving vehicles that allow donors to give a gift during their lifetime and/or after death, while meeting current income needs. Planned giving is typically done in conjunction with estate planning and is an option open to donors of all income levels.

 

Planned giving options include:

Bequest or Estate Gifts

In writing a will or living trust, donors may designate a portion of their estate to benefit Catholic Charities of Herkimer County. The bequest is deductible for federal estate tax purposes.

Outright Gifts of Cash or Appreciated Securities

Cash gifts can provide income tax benefits for the donor. Please make checks payable to Catholic Charities of Herkimer County and mail to Catholic Charities Development Office, 61 West Street, Ilion, NY 13357-1723

Gifts of appreciated stocks and bonds can offer two tax advantages to the donor. On stocks held for more than one year, the donor may be able to avoid paying capital gains tax on the appreciated value. The donor may also qualify for a charitable tax deduction on the value of the securities on the date the gift is made.

Trusts

A trust arrangement enables the donor to make a major gift to Catholic Charities of Herkimer County during his/her lifetime and permits the donor to receive income from capital, securities, or other property involved.

Life Insurance

A donor can name Catholic Charities of Herkimer County as a beneficiary on a life insurance policy.

Charitable Gift Annuity

A charitable gift annuity is a contract between the donor and Catholic Charities of Herkimer County. The donor transfers securities or real property in exchange for a fixed dollar amount during his/her lifetime. Upon the donor’s death, the remaining principal is available for Catholic Charities of Herkimer County.