Decisions on how to distribute our estate make a lasting testament to our life and values. We are all beneficiaries of those who came before us and in making our own testament, we carry this tradition on for the benefit of future generations. The Idaho Episcopal Foundation can assist you in arranging a planned gift as part of your legacy.
A planned gift is a charitable contribution arranged in the present as part of your financial or estate plan. Planned gifts can be allocated to your parish, Paradise Point Camp, The Episcopal Church in Idaho, or the Idaho Episcopal Foundation.
Our Gifts and Bequests Committee oversees this important aspect of legacy planning and its members are available to visit with your clergy, vestry, or parishioners about the variety of ways to invest in the future of your faith. All those who make a planned gift become members of the Bishop Tuttle Heritage Society, which honors the tireless work of The Rt. Rev. Daniel Sylvester Tuttle in laying the foundation for The Episcopal Church in Idaho as we know it today.
Current and Year-End Gifts
Give current gifts of cash, appreciated securities or real estate to the permanent endowment fund of your parish or the Idaho Episcopal Foundation. Such gifts will receive a charitable tax deduction as allowed by law.
Bequests and Wills
Work with your attorney to designate a bequest to the permanent endowment fund of your parish or the Idaho Episcopal Foundation in your Will. These bequests are tax-exempt and may be made in a specific dollar amount such as:
A specific dollar amount (e.g., $5,000)
Real estate, securities or personal property
A percentage of your total or residual estate (e.g., 10%)
Life Estate
Have your attorney arrange the transfer of ownership of your home or vacation home to your parish or the Idaho Episcopal Foundation while you retain the use of it throughout your lifetime. Charitable and estate tax advantages are available for your gift of a Life Estate.
Beneficiary Designation
Designate your parish or the Idaho Episcopal Foundation as a beneficiary or contingent beneficiary of your life insurance policy or retirement accounts (e.g., IRA, 401k, etc.). Charitable gifts from the proceeds will avoid the income tax payable on such accounts upon distribution to beneficiaries.
Charitable Trusts
Have your attorney prepare:
A charitable remainder trust from which you will receive income for life with the principal passing to the permanent endowment fund of your parish or the Idaho Episcopal Foundation.
A charitable lead trust from which your parish or the Idaho Episcopal Foundation will receive regular income until the principal is transferred to your heirs.
Both trusts offer income and estate tax advantages.