Every year, the Diocese of Norwich proclaims June as “Leave a Legacy” month. Through this initiative parishioners are reminded of the importance and benefits of giving through estate planning and planned gifts. The Annual Catholic Appeal provides an opportunity for our generous parishioners to help to support St. Vincent de Paul Place, Norwich, St. Vincent de Paul, Middletown, and the Office of Faith Events, as well as our other diocesan ministries that provide immediate physical, spiritual and educational support to those in need.
Legacy giving takes a little longer perspective. When you think of legacy giving you are considering gifts that you may set up today to take effect many years in the future.
Taking steps now can have a profound impact on your future giving. There are so many ways that you can act today to ensure that at a later date, your chosen diocesan entity will receive some benefit from your years of hard work. It can be as simple as adding a Catholic school as a beneficiary of a life insurance policy or retirement account, or adding your church or the Annual Catholic Appeal to your will. If you have already written your will, adding a simple codicil amending it is another easy option.
While there are many examples of planned gifts being made throughout our diocese, just in the last couple of months, I became involved with two incredibly kind people committed to ensuring that some of their assets are shared within the diocese after their passing.
One person spoke to me by phone and email many times to discuss his wishes and followed up by sending me a copy of his executed will. Another person talked with me at a donor event about her desire to amend her will as well as establish an endowment within the Catholic Foundation and we later met in person to discuss it in greater detail.
It is very endearing to me to hear about how so many people are thinking about including charitable bequests in their estate planning. Whether it be changing their life insurance beneficiary, adding the ACA as an additional recipient of a 401(K), or amending their will, people’s care and concern for their brothers and sisters in Christ never ceases to amaze me.
While we all face different financial situations, most of us have the ability to make planned gifts and perhaps adjust our wills or beneficiary designations accordingly. 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