Estate Gifts and Planned Giving

A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift be made to family, friends or Tampa Catholic High School as part of your estate plan. 

A bequest can be made in several ways:

1. You can gift a specific dollar amount or asset
2. You can gift a percentage of your estate
3. You can gift from the balance or residue of your estate
4. You can make a beneficiary designation of certain assets

You can designate Tampa Catholic High School, Inc. as a beneficiary of a retirement plan or life insurance policy. To do so, contact the retirement plan administrator or life insurance company and complete the appropriate beneficiary designation form. 

A Charitable Gift Annuity is an investment account where donor receives a specified payment for life, and at their death, leaves the remainder to charity.

A Charitable Gift Annuity (CGA) established with the Diocese of St. Petersburg's Catholic Foundation allows a donor to receive fixed payments from an invested principal throughout their lifetime and leave the remainder to Tampa Catholic High School upon their passing.

The process for setting up a CGA is simple: after completing a contract with the Catholic Foundation, the donor transfers cash, stock or property to the Catholic Foundation, and they pay a fixed rate based on age on a fixed schedule for life. Payments may be setup for the donor alone (single life) or for the donor and one beneficiary (two life).  At the time of the donor’s passing, the Catholic Foundation provides Tampa Catholic High School the remaining value of the annuity.

Benefits & Beneficiaries

• Current interest rates for charitable gift annuities almost double that of the interest earned in CD and money market accounts.
• Payment is fixed, and therefore, payments do not change with investment returns.
• Depending upon gift amount, donor may receive the added benefit of mostly tax-free payments.
• Donor will receive a charitable deduction at the time the gift is made.

A Charitable Lead Trust is an irrevocable trust designed to provide financial support to one or more charities for a period of time, with the remaining assets eventually going to family members or other beneficiaries.

Charitable Lead Trusts are usually complicated and subject to specific IRS rules, so anyone considering establishing a charitable trust, including a charitable lead trust, should consult with their legal or tax advisor.

A Charitable Remainder Trust (CRT) is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities.

Charitable Remainder Trusts are usually complicated and subject to specific IRS rules, so anyone considering establishing a charitable trust, including a charitable lead trust, should consult with their legal or tax advisor.