MISSION ADVANCEMENT
Planned Gifts

 

Many people wish they had the financial resources to give more generously to their favorite charities.  A planned gift is one of the easiest ways to make this wish come true.  Learn more about planned gifts on this page.

If you have already included St. Paul's Monastery in your will or estate plan, thank you!  You are eligible to become a member of St. Paul's Monastery's Legacy Society.  Please let us know about your decision so that we can ensure that our records are accurate.

 
Remembering St. Paul's Monastery in your Will

Remembering the Sisters in your will is a wonderful way to make a substantial gift to advance their mission.  By remembering St. Paul's Monastery in your will, you can ensure that a part of your estate will continue to bless the Sisters and their work.  Your will may include gifts in the form of

  • property such as cash, securities, real estate and/or personal property
  • a percentage of your estate and/or
  • the residuary interest of your estate - property remaining after other bequests have been made.

 

Please contact your attorney for help.  We can send you information to help start the conversation.

 

Bequest of Money

For specific bequests of money, your Will should read as follows:
“I give to St. Paul’s Monastery, a religious corporation, the sum of $____________.”

 

Bequest of Property

For specific bequests of particular assets (such as real estate), your Will should read as follows:
“I give to St. Paul’s Monastery, a religious corporation, the following described property _______________________.”

 

Bequest of Percentage of Estate

For a percentage of your estate, your Will should read as follows:

“I give to St. Paul’s Monastery, a religious corporation, ______% of my estate.”

 

Bequest of Residuary Interest

For the residuary interest, your Will should read as follows:
“I give to St. Paul’s Monastery, a religious corporation, the rest residue and remainder of my estate.”

 

Gifts of Life Insurance

 

Your gift of life insurance to one of the younger Sisters will provide them with a substantial deferred gift for relatively modest premium payments.

Alternatively, naming St. Paul's Monastery as the beneficiary of your own paid-up or partially paid-up life insurance policy may be a wonderful gift to the Sisters. 

Ask your life insurance agent for further details on the numerous types of insurance gifts you can make.

   
Charitable Trust  

A trust is a way to set aside money or other assets to provide income for yourself or another person.  A charitable trust provides gifts to non-profit organizations and may have tax advantages for the donors.You may partner with the Catholic Community Foundation to set up a trust from which to make gifts.  A minimum amount to be placed in trust may apply.

Benefits of a planned gift include:

  • a legacy of good works
  • possible tax advantages
  • support of the greatest needs and ministries of the Sisters
   
IRA Distribution  
The American Tax Payer Relief Act of 2012 allows donors who are 70 1/2 or older to make a transfer from their IRA accounts directly to St. Paul's Monastery without having to pay income tax on that distribution.  For tax year 2013 donors may make a qualified charitable contribution of up to $100,000 to St. Paul's Monastery.  Please consult your accountant or financial advisor for specific advice applying to your situation.
   
Gift of Retirement Plan Assets  
Gifting retirement plan assets allows a donor to avoid twofold taxation on IRA accounts or other employee benefit plans.  Please consult your accountant or financial advisor for specific advice applying to your situation.
For more information contact Annette Walker at 651-777-6850 or awalker@stpaulsmonastery.org.

 

 

 

St. Paul's Monastery | 2675 Benet Road | St. Paul, Minnesota 55109 | 651-777-8181 | info@stpaulsmonastery.org
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