Outright gifts of cash, securities, real estate or other assets may be made to The Franciscans. These gifts can be directed to some particular program or designated for unrestricted use. There are benefits to both donor and recipient. Outright gifts are among the simplest, most immediate ways to exercise Stewardship. Moreover, lifetime gifts are usually preferable, from a tax standpoint, to gifts made by a Will. Not only are lifetime gifts removed from the donor's estate, but the donor, in effect, gets part of the gifts back through an income tax deduction. Appreciated property can be a particularly attractive gift. It is deductible at its full fair market value at the date of the gift, and the donor does not have to realize or report the capital gain. (In rare cases gifts of appreciated property may cause some alternative minimum tax liability.) Other planned and deferred gift opportunities are also outlined here.

Giving Through A Will

Everyone, regardless of age, background or financial condition, should have a Will. Without one, even your spouse, children or other loved ones may not receive the bequests you intended from them, depending on State laws. In addition, without a Will, the State appoints the guardian(s) for under age children and determines the years of guardianship; in Missouri the age is 21. Certainly, charities such as The Franciscans receive nothing. Having a Will provides the satisfaction of knowing the fruits of your labors continue to serve others, even when your time on earth is over.

If you do not have a Will, you are encouraged to visit a lawyer and begin planning one. The decision making provides an opportunity to renew your vision of Stewardship: the grateful and responsible use of the gifts you have received from God. The Franciscans provide free assistance and offer an analysis of various estate plans and benefits. The Franciscans also can provide a free Will Planning Guide.

Life Insurance

There are many people who sincerely desire to make a substantial donation to The Franciscans but do not have that of discretionary income. If you are one of those persons, consider naming The Franciscans as the beneficiary of a new or existing Life Insurance Policy. The Policy can be fully paid or one on which you are still paying premiums. You will receive significant tax advantages if The Franciscans own the policy or is an irrevocable beneficiary, along with peace of mind in knowing The Franciscans are designated to enjoy the fruits of your stewardship.

Gifts of Personal Residence or Farm

A personal residence or farm may be deeded to The Franciscans. The donor retains a life estate, that is, the right to continue to live in the home or on the farm during his or her lifetime or the lifetime of the donor and another person. The property can be a primary residence, a vacation or second home.

The donor of a remainder interest receives a charitable deduction equal to the actuarial value of the remainder. Consequently, older donors should receive a larger deduction.

When donors enter into an irrevocable agreement with The Franciscans, they can be sure the real estate will pass directly to it, avoiding the delays and estate settlement expenses of passing through their Wills. The donors are guaranteed the right to live on the property as long as they and/or their spouses live.

Expert Assistance Available

The planned and deferred gifts discussed here have proven to be the most popular. Other options are possible. Each option offers the opportunity to exercise and extend Stewardship, even beyond your lifetime. All are tax sensitive, each with its own particular benefits that can be defined by The Franciscans or your own financial advisors. Every Catholic should examine his or her own situation to determine the type of planned giving vehicle that is best for him or her in exercising a form of Stewardship.

To obtain your Free Will and Trust Planning Workbook or a Franciscan Annuity Booklet, call, write, or e-mail pshdev@thefriars.org:

Fr. Bob Sieg, OFM
Franciscan Charities
3140 Meramec Street
St. Louis, MO 63118-4339
314-655-0530

Legal Title: Franciscan Friars of The State of Missouri

This publication is designed to provide accurate information in regard to the subject matter covered. The information is offered with the understanding that the publisher, editor and contributors are not--insofar as this publication is concerned--engaged in rendering legal, accounting or other professional service. Therefore, the contents should not be applied as legal or financial advice.