Dodge Society Legacy Giving
The Dodge Society was created to receive and recognize Legacy Gifts at Christ Church, Frederica. Christ Church has been the grateful recipient of gifts from generous members through legacy giving, many of whom never notified us of their plans during their lifetimes.
A Bequest in a Will or Trust
Perhaps the easiest and most common way of making a planned gift is through your will, though 50% of Americans do not have one. Without a will, the state will divide your assets according to state law; appoint an administrator that may cost the estate large fees; and appoint guardians, who may or may not have been your choice, for your dependents.
By making a will, you appoint your own administrator; you name the guardian of your dependents; you control applicable taxes; you can create a family or charitable trust; and you can share your resources with your family, church, or other institutions as you choose.
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Gifts of Real Estate, or Property
Real estate or securities can be the source of your gift to the church. Using a Charitable Life Estate Contract, for example, you can deed your home, vacation home, farm, ranch, or condominium to the church and retain the right to live on the property and/or receive income from the property for as long as you live. You receive an income tax deduction when the property is deeded to the church and normally avoid any capital gains taxes when making the transfer. Your inheritance and estate taxes may be reduced at the time of your passing.
Life Income Gifts
Life income gifts provide you or your designated beneficiary income for life in exchange for your gift. The three most common types of life income gifts are a pooled income fund, a charitable gift annuity, and a charitable remainder trust.
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Gifts of Life Insurance & Retirement Accounts
Life insurance offers a meaningful way to make a lasting gift to the church. By purchasing a new policy and naming the church as both the owner and beneficiary, you can significantly increase the size of your gift. This strategy allows you to make a larger contribution than you might be able to through other means. Additionally, any contributions you make toward the policy’s premium payments are tax-deductible, making this an effective way to support the church while benefiting from potential tax advantages.
In addition, the remainder value of many retirement accounts can be heavily taxed when left to friends or family—but can pass tax-free to the church upon your death. Be sure to consult your attorney or financial advisor to determine whether this type of gift is appropriate for your situation.
Legacy Giving and Preparing For the End of Life
Please review these booklets produced by the Episcopal Church Foundation. Christ Church has experts who can help you answer specific questions as you consider an end of life gift to the Church. Please contact us for more assistance.
Planning for the End of Life: Faithful Stewards of Your Good Gifts
Planned Giving: Stewards of God's Bounty
Charitable Gift Annuity: Guarantee and Income for Life
Charitable Remainder Trust: Help Your Loved Ones and the Church
Pooled Income Fund: Give and You Shall Receive
The Dodge Society Legacy Giving
The Dodge Society can help provide you with expert free advice if you want to make a legacy gift to Christ Church. If you have questions, we can connect you with an estate attorney who has offered to help Dodge Society members with this process. We recommend that you consult professionals about your legacy gift.
