Planning For Tomorrow
5 min read
Planned Giving: Preparing the Way for a Legacy of Faith
by Paul L. Ramsey
Director, Church Relations and Philanthropy, PBUCC
The legacy we create reflects the faith and values we hold dear and the impact we have had on the world during our lifetime. Have you considered what you want to pass down to your future generations? Do you have a plan?
Peace of Mind for Your Loved Ones
Ensuring that your assets and possessions are passed down to your family and loved ones is an essential part of estate planning. Unfortunately, without proper preparation, unforeseen legal complications, disputes, and tax burdens can potentially erode your intended legacy. Beneficiary security involves setting up wills, trusts, and other legal instruments to make sure your assets are distributed as you wish.
Failing to secure beneficiaries can lead to contentious legal battles, strained family relationships, and unintended distributions of assets. By taking the time to outline your wishes and legally protect your loved ones, you can provide your family with clarity and peace of mind.
Leave a Mark with Planned Giving and Support the Causes You Love
Planned giving takes the concept of legacy a step further. It's not just about distributing assets, but also about creating a positive and lasting impact on the causes and organizations that matter most to you. Planned giving involves setting aside a portion of your estate for charitable contributions or endowments.
When you incorporate philanthropy into your legacy planning, you can support causes that are close to your heart such as education, healthcare, environmental conservation, social justice, or the United Church of Christ. Leaving a portion of your assets to charitable organizations means you are contributing to the betterment of society and leaving a mark that extends beyond your lifetime.
Tax Benefits
Planned gifts can also provide substantial tax benefits. Depending on your jurisdiction, charitable donations can result in tax deductions or exemptions, which can significantly impact your overall estate. Consulting with financial advisors or estate planning professionals can help you maximize these benefits while achieving your charitable goals.
Together for Tomorrow
The National Ministries and the Pension Boards invite you to join Together for Tomorrow, a shared legacy campaign for the benefit of the United Church of Christ community. Many members of the UCC include planned gifts as part of their estate plans as an expression of gratitude, in support of their lifelong values, or to further the missions and ministries they hold dear. The most popular planned gift is leaving a charitable bequest in a will.
As part of Together for Tomorrow, The Pension Boards is proud to offer FreeWill, an easy-to-use platform for writing our wills. Please consider creating (or updating) your will today and including Ministerial Assistance as a beneficiary. Your planned gift to Ministerial Assistance helps secure our ministers, church workers, and their families—physically, spiritually, and financially—so they can focus on answering their call and serving their communities and congregations for generations to come: freewill.com/pbucc.
Consider these steps to safeguard your legacy:
- Draft a comprehensive estate plan: Create a will, establish trusts, and outline your wishes for asset distribution.
- Choose your beneficiaries: Inform your family and loves ones about who will inherit your assets, taking into consideration their needs, responsibilities, and financial future.
- Consider charitable giving: Explore work that resonates with you and your family and consider allocating a portion of your estate toward a cause that you care about.
FreeWill can help you designate a gift in your will to Ministerial Assistance, the National Ministries of the United Church of Christ, your local Church or Conference, or another organization. Please know that you do not have to make a charitable gift in your will to use FreeWill. To learn more visit: freewill.com/pbucc. - Consult experts: Engage financial advisors, estate planners, and tax specialists to ensure your legacy plan aligns with your financial goals and legal obligations.
- Regularly review and update your legacy plan: Life circumstances change, so it's crucial to review and update your legacy plan periodically to reflect any shifts in your family dynamics, financial situation, or philanthropic interests. You also use FreeWill to update or change an existing will.
Securing beneficiaries and embracing planned giving are integral to creating your legacy. By taking a proactive approach to estate planning and considering the broader impact you can have on the future of the Church, you can build a legacy that not only reflects your values but also shapes a better future for generations to come.
Plan Your Legacy
If you have questions regarding FreeWill or want to discuss including Ministerial Assistance in your legacy planning, please contact Rev. Dr. Paul Ramsey, Director of Church Relations & Philanthropy at pramsey@pbucc.org or by phone at (212) 729-2738.
If you have already made a gift in your will to Ministerial Assistance, please let us know here so we can properly acknowledge your generosity.
Very often, if we’re not careful, we don’t know how to go about asking for help to get the support we need, and that is especially true for ministers. Ask for help!Veronica Kyle
Member of Covenant United Church of Christ, South Holland, IL
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