During the lazy, hazy days of summer, planning for your legacy may not be at the forefront of your mind. While I certainly do not want to detract from your enjoyment of this wonderful time of year, it may provide you with time to think more about the future.
Although the Development Office focuses on the Annual Catholic Appeal, we are also involved in legacy giving and recognize the importance and benefits of giving through estate planning and planned gifts. When you think of legacy giving, you are considering gifts that will take effect many years in the future. These gifts can help the same entities that many of you generously support through the ACA, such as St. Vincent de Paul Place, Norwich, or St. Vincent de Paul, Middletown. Or, you may be interested in helping your parish, school, or the diocese itself.
Taking steps now can have a profound impact on your future giving. There are a multitude of ways you can act today to ensure that, in the future, your chosen diocesan organization will receive some benefit from your years of hard work. It can be as simple as changing the beneficiary of a life insurance policy or retirement account, or adding your church, the Annual Catholic Appeal, or your school to your Will.
If you have already written your Will, adding a simple codicil amending your Will is another easy option.
While there are various planned gifts being made throughout our diocese, recently I had contact with two donors who are considering including the Church in their estate planning. One person is interested in bequeathing a portion of their residuary estate to set up an endowment to support their school.
Another is contemplating adding his church as a beneficiary of a life insurance policy. It is always uplifting to meet people who want to help their favorite charitable endeavors remain strong long after they have passed. Whether it be changing their life insurance beneficiary, adding the ACA as a recipient of a 401(k), or amending their Will, people’s care and concern for their brothers and sisters in Christ is incredibly powerful.
If you would like more information on helping to support your favorite diocesan organization well into the future, please contact Mary Ellen Mahoney at the Office of Development at 860-886-1928 or by email at memahoney@norwichdiocese.net. As always, it is best to fully discuss your wishes with your family and financial/tax advisor before making any decisions. Thank you so much, and God bless!
By Mary Ellen Mahoney