When the building of our present church
was proposed, William Blogett, Senior Warden, said to the congregation:
“The
burden of my life and your life is littleness.
Let us for once in our lifetime rise up and do a great thing for our God
and Savior, for our church, for our parish, and for posterity.”
Our predecessors did rise up and “do
a great thing”. This beautiful
church stands as a memorial to their vision, sacrifice, and generosity.
Many of us give our time, our talent,
and our treasure continuously during our lifetime, but for most of us, our
largest financial contribution can be made by designating how our estates will
be divided following our deaths.
The Book of Common Prayer, 1928, in its
gentle wisdom, has this to say:
“The
Minister is ordered, from time to time, to advise the people, whilst they are in
health, to make Wills arranging for the disposal of their temporal goods, and,
when of ability, to leave Bequests for religious and charitable uses.”
(P.
320).
Believing that there are among us,
those who will wish to consider a bequest to the Church of the Redeemer, the
Wardens and Vestry urge that members of the parish consult with a lawyer
knowledgeable in estates and trusts and consider the variety of alternatives
which may be used in framing a bequest. It should be pointed out that there are
circumstances in which a bequest can be advantageous to both the Church and the
donor, or his estate.
Some alternatives to be considered are
as follows:
A BEQUEST in your will in which you
leave a percentage of your estate, a specific
cash amount, individual securities or property to the Church of the Redeemer. If
you already have a will, a codicil to your will is the simplest method to add
this bequest.
A gift of all or a portion of your
RETIREMENT or PENSION PLAN by
naming the Church of the Redeemer
beneficiary on your plan document. Distributions
from most plans will be subject to
income tax and possibly to estate tax. Distributions
from such plans to the Church of the Redeemer are not subject to either tax.
A gift through LIFE INSURANCE, naming
the Church of the Redeemer beneficiary of a life insurance policy.
If you are the owner of a life insurance policy, the proceeds of the
policy may be subject to estate tax upon your death.
AN INTER VIVOS TRUST can provide income
to you or another beneficiary for life, with the principal distributed to the
Church of the Redeemer after your death or the death of the life beneficiary.
Naming the Church of the Redeemer a
CONTINGENT BENEFICIARY in your will or trust would distribute the gift to the
Church of the Redeemer in the event of the prior death of your primary
beneficiary.
A CHARITABLE REMAINDER TRUST which
names the Church of the Redeemer as the remainder beneficiary offers several
options to provide income to you and/or another beneficiary for life, often with
favorable tax treatment, while benefiting the Church of the Redeemer after the
death of the life beneficiaries.
A form of a Bequest in a will:
“I give, devise and bequeath to the
Church of the Redeemer, 379 Hammond Street, Chestnut Hill MA
02467 ……. (insert here as appropriate, a sum of money, portion of
estate, description of property, or the following language: ‘the rest, residue
and remainder of my estate.’)”
Other words of William Blogett seem
appropriate in our conclusion:
“We
have labored long to protect our families from future hardship, to prevent our
children being harassed by handicaps in the race set before them.
But
shall we not give thought also to their spiritual needs?
For we know that sooner or later, they must come to the same place of
trial and sorrow through which we have passed.
Let us, therefore, seek their blessing in advance by providing now, in
addition to watchful care, some of the means of grace.”
A bequest to the Church of the Redeemer
is a legacy of love and gratitude for the life of the Church in the future.
The Wardens and the Treasurer will welcome inquiries concerning the
details of such bequests.
Bequests to the Church of the Redeemer
are deductible in computing the taxable estate of the donor for federal and
Massachusetts tax purposes.
