Planned Giving

What kind of legacy will you be remembered by? Have you been thinking about leaving a legacy that will convey your most important values?

A gift through your estate ensures that your commitment to helping the poor and vulnerable will continue beyond your lifetime, having a lasting impact.

There are ways for donors of all income levels to leave a legacy.

Gifts through Wills and Trusts

Your will or trust is your final statement about what you believe to be important and worthwhile. Including a gift in your will or trust is the most common method used to leave a legacy and is very simple. You can designate a specific dollar amount, or specific property such as your residence, or a percentage of your estate or a portion or all of the residuary of your estate.

If you already have a will, you don’t need to start over. You can amend your will with a simple codicil. You can also amend your trust.
A bequest affords you great flexibility. If your circumstances change, you can make adjustments to your will (or living trust) at any time.

Your attorney will need to know our legal name:
Catholic Charities of Southern Missouri, Inc.
424 E. Monastery St.
Springfield, MO 65807

Charitable Gift Annuity

A charitable gift annuity – often referred to as a “life income gift” – is a legal contract that provides you with a guaranteed yearly income for life in return for a gift of cash or securities. There are tax benefits and the rate of return is very favorable. Upon the death of the donor, or that of the last surviving beneficiary, the remainder of the original gift passes to Catholic Charities for its charitable purposes. It’s a win-win for both Catholic Charities and the donor!

A charitable gift annuity can be funded with a minimum contribution of $10,000 in cash or marketable securities. To receive a personalized illustration or more information, please contact Maureen Jersak, (417) 720-4213, mjersak@ccsomo.org.

Gifts Made by Beneficiary Designations

These are very easy gifts to set up, without having to employ an attorney. Simply contact your plan administrator or insurance agent to obtain a beneficiary designation form. You may designate that Catholic Charities of Southern Missouri receive all or a portion of these assets. Beneficiary designations provide flexibility. They are revocable (which means they can be updated if your circumstances change) and these gifts pass outside of the probate process.

  1. Gift of Life Insurance
    • This is an easy and powerful way to make a substantial gift to Catholic Charities. If you own a life insurance policy that is no longer needed, simply designate Catholic Charities of Southern Missouri as the beneficiary. Check with your life insurance agent for the proper form to complete.
    • You retain ownership and control of the policy and keep access to its cash value, and can change your mind at any time. (With this type of gift, you will not receive an income tax deduction during your life.)
    • To receive a current tax benefit, you can make Catholic Charities of Southern Missouri the owner as well as the beneficiary of the policy (this would be an irrevocable gift).  You can take a charitable deduction approximately equal to the cash value of the policy at the time of the gift.
    • You can also purchase a new policy and make CCSOMO the beneficiary.
  2. Gifts through Retirement Accounts
    • A retirement plan is an excellent source of funds for making a gift to Catholic Charities due to tax reasons. These assets have been growing tax-free for years, and eventual distributions to the owner or an heir are taxed. The plans are also included in the owner’s taxable estate. As a non-profit corporation, Catholic Charities does not pay taxes so the entire amount of the gift passes tax-free.
    • You may give all or a portion of your 401(K), 403(b), Keogh, IRA, or other qualified pension plan through a simple beneficiary designation. All that you have to do is request the form from your plan administrator.
  3. Transfer on Death (TOD) or Payable on Death (POD)
    • You can designate that all or a portion of specific assets be transferred to Catholic Charities of Southern Missouri upon your death. A POD form is used for bank assets (e.g., savings and checking accounts, savings bonds, deposit certificates); a TOD form is used for securities (e.g., stocks, bonds, mutual funds). A Beneficiary Deed is used for real estate. Nothing transfers at all until your death, and you can change or revoke the documents at anytime.

Charitable Trusts

There are several types of charitable trusts that you can create to support the programs of CCSOMO and you. A charitable trust is an attractive way to sell a highly appreciated asset tax free, and reinvest it to provide you with a lifetime of income.

Note: We encourage you to contact your professional legal and/or financial advisors to determine which gift arrangement meets your needs.