Benefits of a Planned Gift

1. Leaves a lasting legacy
2. Can potentially benefit your estate by minimizing the tax ramifications
3. Allows you, the donor, to make an impactful gift that lasts into the future
4. No amount is too large, nor too small.

A bequest can be made in several ways:

• You can gift a specific dollar amount or asset.•You can gift a percentage of your estate.
• You can gift from the balance or residue of your estate.
• You can make a beneficiary designation of certain assets.
• If you already have a will, you can amend it with a simple codicil - an addendum that can change a specific part of the will without necessarily re-writing the entire document.

There are many financial assets you might currently own that could be utilized as part of your planned giving opportunity. The three that are most commonly recognized as legacy gifts are real estate, retirement accounts and life insurance.

Retirement Account Beneficiary
Name Catholic Charities of Northern Nevada (Tax ID 88-0339754) as a beneficiary of your Individual Retirement Account (IRA). Due to potential tax benefits, it is recommended you speak with your tax advisor or financial advisor to help you navigate the opportunities.

Life Insurance
When the original purpose for a life insurance policy no longer applies, such as educating children who are now grown or providing financial security for a spouse, your policy can become a powerful and simple way to support those looking for a way out of poverty. There are numerous ways to potentially maximize an aging insurance policy or change the beneficiary. Due to potential tax implications, it is advised you speak with your tax advisor or financial advisor to help you navigate the process.

Real Estate
There are many ways to use real estate as part of your legacy/gifting strategy. Because there are many estate and tax benefits available, it is strongly recommended you work with your estate attorney, tax advisor, or financial advisor to help you find the best solution(s) for these gifts to maximize your gifting program.

Regardless of whatever means you wish to utilize as part of your planned giving strategy, please know that your gift will be stewarded faithfully to benefit those in our community living in poverty.

We sincerely thank you for supporting Catholic Charities of Northern Nevada’s life-saving work. If you have questions, please call (775) 322-7073, ex. 220.

Sample Bequest of Remainder of Estate
"I give, devise, and bequeath to Catholic Charities of Northern Nevada EIN: 88-0339754, all [or state the fraction or percentage] of the rest, residue, and remainder of my estate, both real and personal. Catholic Charities of Northern Nevada may be contacted at, PO Box 5099, Reno, NV 89513 1-775-322-7073."

Sample Bequest of Specific Amount
"I give, devise, and bequeath $_____ to Catholic Charities of Northern Nevada EIN: 88-0339754. Catholic Charities of Northern Nevada may be contacted at, PO Box 5099, Reno, NV 89513 1-775-322-7073."

The above options are merely suggestions as to content and should be written or adapted by legal counsel to fit the contributor's individual situation.

Sample Restricted Purpose Bequest
“I give, devise, bequeath, ______ (insert dollar amount, item of property or % of residue) to Catholic Charities of Northern Nevada EIN: 88-0339754 .to be used exclusively [insert restricted use language here such as: for St. Vincent’s food pantry, or rental assistance etc.]. Catholic Charities of Northern Nevada may be contacted at, POBox 5099, Reno, NV 89513 1-775-322-7073.”

Bequest of Specific Real Estate
“I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Catholic Charities of Northern Nevada. Catholic Charities of Northern Nevada may be contacted at, POBox 5099, Reno, NV 89513 1-775-322-7073.”

Contingent Bequest
“If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Catholic Charities of Northern Nevada. Catholic Charities of Northern Nevada may be contacted at, PO Box 5099, Reno, NV 89513 1-775-322-7073.” 

Impactful gift: 
In 2017, an anonymous donor left their home to Catholic Charities of Northern Nevada. The timing was particularly fortuitous, as we had been seeking a matching gift in order to purchase transitional housing for our sober living clients. The sale of the single family home allowed us to purchase a property with three homes. This housing give our clients the opportunity to continue to work on their sobriety, but also prepares them for more independent living.