Mission Advancement – Planned Gifts

Become a part of our enduring Benedictine Legacy by considering a planned gift to Benet Hill Monastery in your estate planning.  Our legal title is:  Benet Hill Monastery of Colorado Springs, Inc.  Contact Sister Clare Carr, Prioress at 719-633-0655 Ext. 12 or email at sclare@benethillmonastery.org.

 

 

Planned Giving Brochure

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The mission of Benet Hill Sister’s relies on the generosity of our benefactors. Gifts can be made to a specific program, campaign or the general fund in the following methods:

 

Gifts of Stock/Securities

S. Josie-3An appreciated stock gift is almost always more beneficial to the donor than contributing cash. This is because a gift of appreciated stock generally offers a two fold tax savings:

 

1. You avoid paying any capital gains tax on the increase in value of the stock.

 

2. You receive an income tax charitable deduction for the full fair market value of the stock at the time of the gift.

 

To transfer stocks held with a broker or certificates held by you: Call Sister Clare Carr, Prioress at 719-633-0655 Ext. 12 or email at sclare@benethillmonastery.org to notify us of your gift, kind of stock, the number of shares and how you wish it to be used. You will be given the name and phone number of the broker working with the Sisters.

 

Wills/Bequests

Wills/Bequests are among the simplest and most popular planned gift vehicles for supporting the Sisters of Benet Hill Monastery. The will simply lists Benet Hill Monastery as a beneficiary of the assets. You retain maximum flexibility and use of your assets during your lifetime. Bequests are generally deductible for estate and gift tax purposes.

 

A will/bequest can take any of the following forms:

 

1. Specific bequest of a percentage or an exact dollar amount of the assets, or of particular designated securities or other property.

 

2. Residuary bequest of all or a percentage or portion of your estate, after the payments of specific amounts to other beneficiaries have been made.

 

3. Contingent bequest to take effect only in the event that your primary beneficiaries are designated in your will have died before you.

 

Often a bequest can be arranged simply with the addition of a codicil to amend your existing will. The wording of the bequest can be very simple:

 

I give Benet Hill Monastery of Colorado Springs, Inc., ______ percentage of the residue of my estate, to be used by the Sisters wherever the needs are greatest.

 

or I give, devise and bequeath to Benet Hill Monastery of Colorado Springs, Inc. (X dollars)

or (X shares or stock)

 

or (legal description of real property) to be used to further their mission.

 

or To make a gift of all that remains after taking care of family and other interests: All the rest, residue and remainder of my estate, both real and personal property, whatsoever and wheresoever located, I give, devise and bequeath to Benet Hill Monastery of Colorado Springs, Inc. to be used to further their mission.

 

For complete information contact Sister Clare Carr, Prioress at 719-633-0655 Ext. 12 or email at sclare@benethillmonastery.org . As with any estate planning decision, consult your legal, financial and tax advisors for advice and information on applicable state and federal law.

 

Other Gifts

Gifts of Property/Real Estate: A gift of property, free of mortgage, alleviates capital gains tax and gives the donor an income tax deduction on the fair market value of the gift. Donors may be allowed to remove the asset from their taxable estate and give the property to charity while still living on the property.

 

Estate Agreement: With this agreement, a donor transfers the title to a residence or farm to Benet Hill Monastery of Colorado Springs, Inc. while retaining the right to live there and use the property for life. The donor may be entitled to a current tax deduction equal to the value of the remainder interest.

 

Individual Retirement Accounts (IRAs): Donors may wish to make a gift of some of their retirement assets to Benet Hill Monastery of Colorado Springs, Inc. Naming the Sisters of Benet Hill Monastery as a beneficiary of your Individual Retirement Account (IRA) or other retirement plan assets can be an ideal way of making a future gift to the monastery for the purposes of carrying on the ministries of the Sisters. Doing so can provide double tax benefits by avoiding estate tax and income tax that would otherwise be due if the assets were left to your heirs.

 

For complete information contact Sister Clare Carr, Prioress at 719-633-0655 Ext. 12 or email at sclare@benethillmonastery.org