Estate planning can be more than transferring resources upon your passing. By clearly defining your objectives and good preparation you can leave a legacy that takes care of your loved ones and ensures the financial stability of the Greek Orthodox Archdiocese Ministries in America.
The process of creating a planned gift involves good communication. Informing your family about your vision is key. Let your loved ones know why providing for the ministries of the Greek Orthodox Archdiocese is in your heart and why you want to leave behind a legacy of stewardship.
Ways to Leave a Legacy to the Greek Orthodox Archdiocese of America:
- Bequest in a Will: While providing for your beneficiaries in your will, you can include a charitable gift for a specific amount, a percentage, or remainder of your estate.
- Life Insurance Policy: You can turn a life insurance policy into charitable support. By naming the Greek Orthodox Archdiocese as the owner or beneficiary of an existing or new life insurance policy, you can make a significant gift.
- Retirement Accounts: Naming the Greek Orthodox Archdiocese as the beneficiary of your IRA, 401(k), Keogh, 403(b) or other qualified retirement plan can provide greater tax benefits to your heirs while maximizing the impact to Orthodoxy.
- Savings and Investment Accounts: Naming the Greek Orthodox Archdiocese a beneficiary of your savings and investment account is an easy way to leave a legacy.
- Gift in a Trust: The Greek Orthodox Archdiocese can be designated as a beneficiary of a revocable or irrevocable trust.
- Charitable Remainder Trust: Cash, marketable securities or real estate may be placed into a charitable remainder trust. A Charitable Remainder Trust is a way to make a gift that allows you to retain income from your property for life or for another period of time that you specify.
- Charitable Lead Trust: Provide a substantial gift over a period of years while ensuring that the property will ultimately return to the donor or to loved ones. The lead trust is one of the few ways to reduce or eliminate taxes that otherwise would be due on assets left to children or grandchildren.
- Real Estate: You may donate residential, commercial or undeveloped property.
- Securities: Giving long term appreciated securities saves capital gains tax and may serve you better than giving cash. The donor of stock donation receives a tax deduction for the stock’s fair market value.
Please consult your professional legal or tax advisor when preparing estate plans. Staff and volunteers of the Greek Orthodox Archdiocese cannot provide legal or tax advice.
Our legal title is Greek Orthodox Archdiocese of America
Our Tax ID number is: 131632516
For more information about leaving a legacy contact Nikki Soteropoulos Margarites, Director of Development, at 212-774-0277 or [email protected].