Subiaco Abbey has been serving its mission and ministries since 1878. Our diverse ministries attract a wide variety of participants and supporters. Some philanthropists, charitable foundations and corporations wanting to contribute to Faith Based Organizations find Subiaco Abbey a good investment.
Through Planned Giving, your gift provides you tax benefits and at the same time enables Subiaco to meet some of its future financial needs. Gifts can be designated to a specific ministry of the Abbey or for general purposes. Following are some of the planned giving options to consider when selecting an arrangement that is right for you:
A planned gift is arranged by you legally during your lifetime. The principal benefits accrue to Subiaco Abbey at a later time, after your death or the death of your last named beneficiary. Planned gifts take many forms, providing additional income for you and/or your heirs, reducing income and estate taxes, relieving you and your heirs of complicated financial management responsibilities and helping to fulfill your personal and charitable objectives. Planned gifts can be made in cash, real estate, stocks, bonds, personal property or life insurance.
Bequests by Will
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting Subiaco Abbey, it serves as an example to your heirs of the values and ideals you hold dear. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
Charitable Remainder Trust
A charitable trust transfers ownership and management of cash and/or appreciated securities to Subiaco Abbey. The Abbey manages the trust and pays income to you for the remainder of your life and/or the life of another beneficiary. An annuity trust provides a fixed annual income for those wanting consistent, predictable payments. A unitrust pays a variable return based on market changes, providing an effective hedge against inflation.
Contributions of life insurance can provide a substantial gift to Subiaco Abbey. The value of an ordinary policy at the time of the gift is tax deductible. If you continue paying the premiums, they also are deductible as charitable contributions. If a paid-up policy is given, the cost of purchasing a new paid-up policy at your current age is the value of the charitable deduction.
Subiaco’s planned giving advisors are professionals with experience in estate and gift planning who care about your goals and plans. They will work with your attorney or accountant to explain the many gift opportunities available to you and the financial advantages of each. Contact the Development Office to learn how confidential, personal financial planning can help you achieve your goals while helping to sustain Subiaco’s mission and ministries.