A People ・ A Church ・ A School ・ A Future -- 1500 Wauwatosa Avenue, Wauwatosa, WI 53213 | Phone: 414-258-4320

Planned Giving

Planned Giving

ej0dh6npqvycwb19og96xnq7wrl.jpgCreate a Legacy

A planned gift is a lasting investment in the future of St Bernard as a viable, contributing parish to the residents of Wauwatosa, Wisconsin. Your support and commitment to St Bernard during your lifetime is greatly appreciated.  We invite you to strengthen that commitment by considering one of the planned giving opportunities featured here.

We encourage you to discuss which giving opportunity option best fits your needs with your financial planner, tax professional or your estate planning attorney. Keep reading to find options you might consider.

Please let us know if you have already included St Bernard Parish as a beneficiary of your estate. We would like to thank you and recognize you for your gift. 

If you have any questions please call Christine Meyer 414-258-4320 Ext. 103 or cmeyer@stbernardparish.org.

 

Gifts by Life Insurance

A life insurance policy may be attractive because it affords you the opportunity to make a gift at a sizeable face value value for a minimal outlay of cash.  You may give an existing policy, either fully paid or partially paid, or a new policy.  Similar to the retirement plan designation, the proposed gift to St Bernard is accomplished by naming St Bernard as a beneficiary of the policy on the beneficiary designation form.  Upon death, the parish will receive a portion of, or all, the proceeds from the policy.  You are entitled to a charitable income tax deduction equal to the cash surrender value of the property and any future premiums paid only if the parish is named as the owner and beneficiary of the policy. Your insurance agent or financial planner can help you make the correct ownership and beneficiary changes.  

St Bernard Parish Federal Tax ID #39-0806326
St Bernard Parish Mailing Address: 7474 Harwood Avenue, Wauwatosa, WI  53213
**The information we have provided above is for estate planning purposes and is not meant to be legal or tax advice.  If you have any questions please do not hesitate to consult your financial planner or estate attorney.

 

Gifts by Retirement Benefits

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to St Bernard Parish.

If you are like most people, you probably will not use all of your retirement assets during your lifetime.  You can make a gift of your unused retirement assets to help further our mission.

Benefits of gifts of retirement assets
  • Avoid potential estate tax on retirement assets
  • Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
  • Receive potential estate tax savings from an estate tax deduction
How to make a gift of retirement assets

To leave your retirement assets to St Bernard Parish, you will need to complete a beneficiary designation form provided by your retirement plan administrator or custodian.  If you designate St Bernard Parish as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death.  Your estate will benefit from an estate tax charitable deduction for the gift.

More on gifts of retirement assets

Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death?  Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to St Bernard Parish.  As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.

St Bernard Parish Federal Tax ID #39-0806326
St Bernard Parish Mailing Address: 7474 Harwood Avenue, Wauwatosa, WI  53213
**The information we have provided above is for estate planning purposes and is not meant to be legal or tax advice.  If you have any questions please do not hesitate to consult your financial planner or estate attorney.

 

Gifts by Will

8h73wmzk1bf18us1iudozwojwql.jpgThrough various types of bequests to St Bernard, you may secure an estate-tax charitable deduction for the value of your gift while providing much-needed support to St Bernard Parish for years to come.

You may prefer to include in your will or trust a sum of money, a percentage of your estate, a specific item, or a piece of real estate that you wish to give to the church.

Whatever form of bequest you choose, this gift would not be subject to federal estate taxes and therefore significantly reduces the tax burden of the estate.  The value of the bequest may be deducted when the taxable estate is determined, and there is no limit on the deduction amount.

Including St Bernard in your will

A bequest may take the form of cash, securities, real estate or other property.  You should specify that the church is to receive a certain amount or percentage of your estate, specific assets or the remainder of your estate after providing for heirs. 

Following are some examples of bequests:

  • Specific bequests makes a gift of a specific dollar amount or specific assets, such as securities, real estate or personal property.
  • Residuary bequests give all or a portion of the rest, residue and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.
  • Contingent bequests result in a gift to the Church only in the event of the death of other beneficiaries or the fulfillment of certain conditions describe in your estate plans.

In addition gifts can be specified for a specific purpose:

  • General church operating budget. This is an unrestricted gift and would be used for church operating expenses at the discretion of the pastor after receiving advise from the Finance Committee.
  • Father Hentzner Scholarship Fund which provides scholarship and tuition assistance to religious education families and students of Wauwatosa Catholic School.
  • Facilities, Buildings and Grounds fund which is used for the improvement and upkeep of the buildings and grounds.
  • Endowment Fund which provides continuing support of St Bernard Parish.
  • Retirement of long term debt, i.e. church mortgage
Example Bequest Language

The following includes several examples of suggested bequest wording to benefit St Bernard Parish.  Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities.  We encourage you to consult your attorney, tax professional and/or financial advisor when determining the best verbiage for your intention.

Percentage of Estate-for unrestricted purposes 

I hereby give, devise and bequeath to St Bernard Parish, a nonprofit Catholic Church in Milwaukee Wisconsin, ______ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used in the area of greatest need at the time the gift is received.

I may choose at a later date to may choose at a later date to enter into a separate agreement between myself and the Church related to the use of this gift and would request that the Church utilize the gift in accordance with the terms of that agreement.

Percentage of Estate-for a specific purpose

I hereby give, devise and bequeath to St Bernard Parish, a nonprofit Catholic Church in Milwaukee Wisconsin, ______ percent (%) of the rest, residue, and remainder of my estate to be used for ______________________ at the Church.  It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then the Church may devote said bequest for other such uses and purposes as it determines to be in accordance with my original intent in making this gift.

Specific Amount-for unrestricted purpose

I hereby give, devise and bequeath to St Bernard Parish, a nonprofit Catholic Church in Milwaukee Wisconsin, the sum of ______ dollars ($) as an unrestricted gift to be used in the area of greatest need at the time the gift is received. 

I may choose at a later date to may choose at a later date to enter into a separate agreement between myself and the Church related to the use of this gift and would request that the Church utilize the gift in accordance with the terms of that agreement.

 Specific Amount-for a specific purpose

I hereby give, devise and bequeath to St Bernard Parish, a nonprofit Catholic Church in Milwaukee Wisconsin, the sum of  ______ dollars ($) of the rest, residue, and remainder of my estate to be used for ______________________ at the Church.  It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then the Church may devote said bequest for other such uses and purposes as it determines to be in accordance with my original intent in making this gift.

St Bernard Parish Federal Tax ID #39-0806326
**The information we have provided above is for estate planning purposes and is not meant to be legal or tax advice.  If you have any questions please do not hesitate to consult your financial planner or estate attorney.