Planned Giving Instructions
Planned Giving Instructions
Include Spirit of St. Stephen’s Catholic Community in your estate plans and your commitment to its members in their service to their neighbor and journey to God lives on!
Please consider becoming a Legacy Member of Spirit of St. Stephen’s Catholic Community. Simply by naming Spirit of St. Stephen’s in your will, you become a Legacy Member. Once you have provided for loved ones in your estate plans, consider including a gift of money, stock or property to Spirit of St. Stephen’s. Although your gift is made now, Spirit of St. Stephen’s receives the benefit of your gift in the future. Your gift will be a lasting tribute to your concern for our mission. We can help. Contact our Treasurer, Tom Eckhardt, at Giving@SpiritCatholicCommunity.org.
What is a bequest?
A “bequest”, the most common form of planned giving, is a gift of assets (money, and/or other property) that is made through your will, trust or other testamentary arrangement. No funds are transmitted or irrevocably transferred to Spirit of St. Stephen's Catholic Community until after your death. If you disposed of the property before your death, we won’t receive your intended gift because we cannot claim any of your other property.
How do I add Spirit of St. Stephen's Catholic Community to my will?
There are several ways you can name Spirit of St. Stephen's Catholic Community as a beneficiary in your will or trust. You may choose to give specific assets, a portion of your estate,
or your residual estate after payment of other bequests. You can share with your estate planning attorney sample bequest language similar to the examples given below.
How do I properly identify what I am giving to St. Stephen's?
Portion of the estate: A sample of language you might use is: "I give to Spirit of St. Stephen’s Catholic Community ____% of my estate to be used by Spirit of St. Stephen's wherever the need is greatest."
Specific amount: A sample of the language you might use is: "I give to Spirit of St. Stephen’s Catholic Community the sum of $_______ to be used by Spirit St. Stephen's wherever the need is greatest." If there is insufficient cash in your estate to cover the bequest, other assets will be sold for cash to honor your wishes for us.
Specific property: A sample of the language you might use is: "I give to Spirit of St. Stephen’s Catholic Community all my right, title and interest in the following described real property [insert legal description of property] to be used by Spirit of St. Stephen's wherever the need is greatest."
Residual estate (after other bequests or designations are named): A sample of the language you might use is: "I give to Spirit of St. Stephen’s Catholic Community the residue of my estate to be used by Spirit of St. Stephen's wherever the need is greatest."
Can I designate to a certain program or activity at Spirit of St. Stephen’s Catholic Community?
Yes, you can designate a specific purpose for your gift. Please keep in mind that while its mission will not change, program names or foci do sometimes change as community needs change. One way to make allowances for this would be to say you designate to “[program name] or to wherever the need is greatest in the event that [program name] has ceased activity.” We will honor your designation to the best of our ability.
Can I name Spirit of St. Stephen’s Catholic Community as a beneficiary of my life insurance or retirement assets?
Yes. You do not need a will to make a gift to Spirit of St. Stephen's payable upon your death. You can list Spirit of St. Stephen's as a beneficiary of some or all of your retirement plan benefits, IRAs or life insurance.
How do I properly identify Spirit of St. Stephen's in my will, life insurance policy, IRA, etc.?
This is very important. In order to assist those who will administer your estate, designate Spirit of St. Stephen's as follows:
SPIRIT OF ST. STEPHEN’S CATHOLIC COMMUNITY
5011 31st Ave S, Minneapolis, MN 55417
Be sure to let us know if you decide to name Spirit of St. Stephen's in your estate planning documents so that we can ensure that your wishes are fulfilled upon your death. Contact the Treasurer, Tom Eckhardt, at Giving@SpiritCatholicCommunity.org. We would be so grateful for your gift.