Legacy Giving through Estate Planning - Planning Wisely
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Free Estate Planning Guide
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Compliments of the Catholic Foundation of Northeast Kansas (CFNEK), the parish offers an estate planning guide to help you list your assets and bequests.
Guide includes forms and lists to fill out that your attorney will ask for if you are planning to make a Will or Trust.
Some attorneys will provide their own estate planning guides for your use.
If you have made an intended gift to Holy Spirit Catholic Church through your current estate plans, whether by Beneficiary Designation on life insurance, a retirement account, or other asset, a will or trust, we invite you to enroll in the Catholic Legacy Society of Northeast Kansas. ENROLL
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DESIGNATED BENEFICIARY
The Easiest way to get started with planning your legacy wisely is simply by designating your beneficiaries on your retirement accounts, life insurance, mortgage, car loan, etc.
Holy Spirit Parish Federal ID #: 48-0926316.
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Our legacies are created by how we use the gifts God has given us during our life, and how we distribute our assets to family and charity at the end of life.
A Will and Testament enables you to put your voice behind how you would like your gifts distributed after you pass. Pre-planning for end of life will bring peace to yourself and those you leave behind.
A will goes through Probate. A trust does not.
Holy Spirit Federal ID #: 48-0926316
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TRUSTS
The items held in a Trust and then distributed to heirs and charity upon your death by your chosen Trustee can be revocable or non-revocable depending on the type of Trust. There are many types of trusts. Some of the most important benefits of choosing a Trust over a Will or having a Trust and a Will, both, are:
That they allow for more creativity in making charitable gifts today to charity that will increase charitable tax deductions, today, or provide an income source to yourself, or a family member, heirs, or a charity. They also do not go through Probate the way a Will does, so heirs and charity can receive their inheritance quickly.
It is typically necessary to have at least $250,000 in assets for a Trust to hold for a person to really need a Trust. To know the best Trust for your life and/or estate plans contact a Catholic attorney.
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INSPIRATION
"If money touches our relationships with family members as well as the world beyond our home, it also reaches into our interior life. It is interesting that the phrase, "personal worth" can mean both the extent of our financial assets and our value as a human being" (Fr. Henri Nouwen.)
Reflection: Does having, or not having money affect your self-esteem, or your sense of value?
Church: Remember you are made in the "image and likeness of God" and your dignity arises from this Truth and then from this starting point you can learn from the Church how money can create an image you want to present to others.
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INSPIRATION
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Advance Health Directive
Also known as a "Living Will", the Archdiocese of Kansas City in Kansas offers these forms in a guide, "Catholic Guide of End of Life and Establishing of Advance Directives."
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23 Page Resource
The Guide includes a Durable Power of Attorney for Health Care Decisions form and and Advance Declaration on Life and Natural Death form. CLICK HERE to download the full guide, print the forms, fill out, and then have Notarized.
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