Legacy giving: is it about tax avoidance or eternal values?

Legacy giving can have an amazing impact on your ministry. According to my friends at the Association of Fundraising Professionals (AFP), there are many reasons for someone to consider giving a legacy gift from an institutional perspective as it may provide an opportunity to give with income and estate tax deduction.

legacy giving

Why?

  • It may offer the opportunity to give with income and estate tax deduction.
  • It may offer the opportunity to enjoy either a fixed or variable income or even supplement retirement income.
  • If highly appreciated assets are contributed, it may avoid or lessen capital-gains tax liabilities.
  • It may offer opportunity for increased income compared to other investments.
  • It may allow competent management of assets transferred as gifts.
  • It may allow donor to pass an asset to an heir after an established period of organizational use.

The Language of Legacy Giving for Churches

We’ve been camping out on the topic of legacy giving lately. Legacy giving can have a high impact for both you and your church members. Once you understand the potential behind legacy giving, it can change your ministry!

legacy giving

Reality for many church leaders is that the fundamentals of legacy giving is sort of an unknown. Most pastors simply aren’t trained in the details of legacy financial planning, so this is where I love to come alongside you with hands-on help.

Let’s get really practical about legacy gifts, shall we? This post is meant to help you gain a basic understanding of legacy giving options so you feel comfortable having conversations with people considering these types of gifts for your church.

Is Your Church Prepared to Receive the $1M Check?

He sat quietly at a side table; dignified salt and pepper hair. Conversation buzzed around him.

Increase Church Giving

The discussion in the room centered around the success of a recent generosity initiative. The next step involved planning appropriate follow-up strategies for the fulfillment phase.

 Of the numerous suggestions that came, one involved legacy giving. So he waited for an opportunity before speaking as he had an important story to tell.

10 Reasons NOT to Implement a Legacy Giving Plan in Your Church

How often does the topic of legacy giving come up at your church? Once a quarter? Twice a year? Better yet, what is legacy giving? Legacy giving involves a “deferred gift.” It is a gift one decides to give at a future date, either years from now or at death. It is a present decision to make a future gift.

Implement Legacy Giving Church

Most people leave or bequeath these types of gifts through their will or estate plan. Unfortunately, gift planning is rarely discussed in churches across America. Why? Check the list below and tell me if your reason is somewhere on this list.