Planned Gifts to Saint Ann
We hope that you will consider including Saint Ann Melkite Catholic Church in Danbury, Connecticut, in your estate or financial plans to help sustain our mission for generations to come. Whatever approach you choose, your gift will honor the generations of Melkite Catholics who founded and sustained Saint Ann parish since 1910. Options for including Saint Ann in your long-range planning appear below and here.
Ways to Make a Planned Gift
- Bequests and Wills
- Retirement Plans
- Bank Accounts, Securities, and Certificates of Deposit
- Life Insurance Policies
Bequests and Wills
The simplest way to make a planned gift is by naming Saint Ann Melkite Catholic Church in Danbury, Connecticut in your will. A bequest is a meaningful way to support our work without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will or you can add a codicil at any time.
There are several types of bequests:
- A specific bequest indicates the amount of cash, securities or other asset you wish to leave to Saint Ann. Or it can indicate a specific percentage of the total value of your estate.
- A residuary bequest leaves the remaining portion of your estate (or a percentage of the total) after all other bequests have been satisfied.
- You can make Saint Ann the recipient of a contingency bequest, which takes into account the possibility of a change in your beneficiary’s circumstances.
You can make a bequest to Saint Ann for a specific dollar amount or percentage of your estate:
I give, devise and bequeath to Saint Ann Melkite Catholic Church in Danbury, Connecticut, the sum of $________ as an unrestricted gift, to be used at the sole discretion of Saint Ann Melkite Catholic Church.
Or, you can make a bequest for specific assets, such as securities, real estate or personal property. Please be as specific as possible in identifying the property:
You can make a residuary bequest, which gives all or a portion of the residue of your estate to Saint Ann after payment of expenses and any amounts designated to other beneficiaries.
I give, devise, and bequeath to Saint Ann Melkite Church in Danbury, Connecticut, X percent of the rest, residue and remainder of my estate as an unrestricted gift, to be used at its sole discretion.
You can make a contingency bequest to Saint Ann, which allows you to account for a change in your beneficiary’s circumstances.
I give, devise, and bequeath [insert name] X percent of the rest, residue, and remainder of my estate if s/he survives me. If [insert name] does not survive me, I give, devise and bequeath to Saint Ann Melkite Catholic Church in Danbury, Connecticut, X percent of the rest, residue, and remainder of my estate as an unrestricted gift, to be used at its sole discretion.
Unrestricted and Restricted Gifts
Gifts that do not restrict the use (unrestricted gifts) allow Saint Ann to use these resources where they are most needed. Saint Ann is also grateful for gifts that are designated for a specific purpose that advances its mission (restricted gifts), such as support to a specific initiative or for a specific program.
If you are interested in making a restricted gift, it is important that you include language to ensure that Saint Ann may re-direct the use of your gift if the specified initiative, program or purpose ceases to need funds in the future:
I give, devise and bequeath to Saint Ann Melkite Catholic Church in Danbury, Connecticut, the sum of $_____ to be used for the [insert name of program] for so long as Saint Ann Melkite Catholic Church determines that the need exists. Should the need no longer exist, Saint Ann Melkite Catholic Church may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.
You can contribute to Saint Ann through your retirement plan. Certain retirement plans, including IRAs, Keoghs, 401k and 403b plans, allow you to defer paying taxes until you withdraw income during retirement. However, after your death these accounts are often exposed to significant taxes. Therefore, you might find it beneficial to contribute all or part of these funds to Saint Ann while leaving other assets to your heirs. Simply name Saint Ann Melkite Catholic Church in Danbury, Connecticut as a beneficiary of your retirement plan. You will retain control of the plan during your lifetime, and you can change your beneficiary at any time if your circumstances change.
Bank Accounts, Securities & Certificates of Deposit
A no-cost way to make a planned gift to Saint Ann is by designating it as the recipient of a bank account or security. You can instruct any financial institution in which you have an account or the holder of a security to place your asset in a trust (often called a Totten Trust or a Transfer upon Death Account) which will be transferred, upon your death, directly to the Saint Ann Melkite Catholic Church in Danbury, Connecticut. This allows you to retain complete control of the asset during your lifetime and to give the remaining asset to Saint Ann upon your death. Most Totten Trusts can be created easily, using a form obtained from your bank, financial institution or the holder of the security.
Life Insurance Policies
Saint Ann welcomes charitable support through gifts of life insurance policies when the policies are paid in full and Saint Ann is named as the owner and irrevocable beneficiary of the policy. You can also name Saint Ann Melkite Catholic Church in Danbury, Connecticut, as the primary or contingent beneficiary of an existing or new life insurance policy.