Date

Jan 15, 2025

Letter


Estate and Planned Giving: Legacy Gifts

Estate and Planned Giving: Legacy Gifts

A legacy gift is a donation that you specify today, but that actually is made after your death. Many people find a legacy gift allows them to give more than they feel comfortable giving while alive. If you would like to support Grow Where You Are Planted in the future, then a legacy gift might be a good way for you to give. Such a gift might also reduce the taxable value of your estate.

How to do it?

The details of a legacy gift must be spelled out in your will. Preparing a will is a serious matter and should be done with the assistance of an attorney who specializes in estate planning. That attorney will prepare the general parts of the will, but if you would like to support St. Isidore through a legacy gift, you should ask the attorney to include specific language. There are three basic types of legacy gifts: residual, specific and contingent. The lawyer can explain them in more detail, but in general: a residual gift states that, after all of your other bequests are satisfied, whatever is left will go to St. Isidore; a specific gift states that a specific amount of dollars (or a specific piece of property) will go to St. Isidore; and a contingent gift states that, if a specific bequest to some person cannot be fulfilled, that amount will go to St. Isidore. An example might be when a person to whom you left a specific bequest passed away before you.

Some sample language that you could discuss with to your attorney follows:

Residual gift language:

I give and devise to the Society of Saint Pius X, Denver, Colorado, Inc. (Tax ID # EIN 91-1987555), located in

Denver, Colorado, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and

personal, to be used for the support of The Grow Where You Are Planted Capital Campaign.

Specific gift language:

I give and devise to the Society of Saint Pius X, Denver, Colorado, Inc. (Tax ID # EIN 91-1987555), located in

Denver, Colorado, the sum of $________, to be used for the support of The Grow Where You Are Planted Capital Campaign.

Contingency gift language:

If (insert name_______) is not living at the time of my demise,I give and devise to the Society of Saint Pius X, Denver, Colorado, Inc. (Tax ID # EIN 91-1987555), located in

Denver, Colorado, the sum of $ _______ (or all or a

percentage of the residue of my estate, or the amount that would have gone to _____________), to be used

for the support of The Grow Where You Are Planted Capital Campaign.

The above language should be discussed with a qualified attorney to ensure the language used complies with

your wishes and with the law. While the SSPX is in the business of saving souls, it is not in the business of tax

or estate planning advice, so please consult with a qualified accountant or tax advisor if you have any

questions.