Greenville/Winterville, North Carolina

Estate Gifts to the Church

Gift Type
Bequests
Summary
A gift to your church through your will (or revocable trust) enables you to retain the asset during your life and provide significant support when you no longer require the asset. You may choose a specific value, percentage or the residual value of your estate.  Please let the church know your intentions.
Benefits
  • Significant support for your church
  • No immediate cost
  • You retain the asset and its use
  • May change at any time
  • Leave a specific amount or percent
  • Federal estate tax exempt
How it works:
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 to be made to family, friends or Peace Presbyterian as part of your estate plan.

A bequest may be made in several ways:
  • Gift of a percentage of your estate
  • Gift of a specific dollar amount or asset
  • Gift from the balance or residue of your estate
​Gift Type
Retirement Assets
​Summary
In some cases, retirement plans can be the best asset for a donor to leave to the church. Retirement assets can be taxed up to 70% upon inheritance. Naming your church as the beneficiary can avoid that taxation as assets can pass tax free to charitable organizations. You may reserve lower taxed assets to bequest to your heirs.
​Benefits
  • Significant support for your church
  • No estate or income taxes for your church.
  • Leaves other more favorably taxed assets to heirs.
How it works:
​To leave your retirement assets to Peace, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Peace Presbyterian as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
Gift Type
​Retained Life Estate
​Summary
This allows you to transfer a residence, farm, or vacation home to the church while allowing you to use the property for the rest of your life.  For example, you could give your home to the church and continue to live in your home "rent free" for the rest of your life.  
Benefits
  • Generous support for the church.
  • Retain the right to use the property for life
  • Immediate income tax deduction for a portion of the appraised value of the property.
How it works:
1. You deed your home or farm to Peace Presbyterian. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other life estate party named in the deed.
2. You and Peace Presbyterian sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
3. When the owners of the life estate have passed away, your home or farm will belong to Peace Presbyterian. We will use or sell the property to further our mission and ministry.
Gift Type
Beneficiary Designations
Summary
Designate the church as a beneficiary of an account or policy. This is a simple and inexpensive way to remember your church in the future.
Benefits
  • Meaningful support for the church.
  • Retain complete control of the asset during your life.
  • Change the designation any time.
  • Beneficiary designations can be primary, secondary or congtingent, and they can be specific amounts or a percentage of the account.
How it works:
​1. To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
2. Ask them to send you a new beneficiary designation form.
3. Complete the form, sign it and mail it back to your broker, banker or agent.
4. When you pass away, your account or insurance policy will be paid or transferred to Peace Presbyterian, consistent with the beneficiary designation.
Consider:
INVESTMENT ACCOUNTS
"TOD" or "Transfer on Death": At death this designation immediately moves designated investment securities to a new owner - the church if you wish.

BANK ACCOUNTS
"POD" or "Payable on Death": transfers bank account assets to the POD beneficiary. You may wish to consider a bank account not needed by heirs - to benefit the church.

LIFE INSURANCE
If your insurance policy is no longer needed, you could simply change your church to be the primary beneficiary of the existing policy. If your loved ones still need the security of the policy, consider listing your church as a contingent beneficiary.​
Gift Type
Give It Twice Trust
Summary
The Give it Twice Trust allows you to transfer your IRA at death to a term of years unitrust. The unitrust will pay income to your family for a number of years (usually 20 years) and then distribute the balance to the church.
Benefits
  • Use the full value of your unused retirement account to provide income to your surviving spouse and to provide income to children or other loved ones for a specified period of time.
  • Payments made to children for a term of years.
  • Estate tax deduction and savings for your gift.
  • Supports the work of Peace Presbyterian Church
How it works:
​1. Work with your attorney to create a charitable remainder unitrust.
2. You complete an IRA or other retirement account beneficiary designation form, naming the charitable trust as the beneficiary, and return the form to the account custodian.
3. When you pass away, the custodian will transfer your retirement account to the charitable trust.
4. The trust will pay income to your spouse, children or other individual beneficiaries for their life, term of years or life plus term of years.
5. At the conclusion of the payments, the balance of the trust will be transferred to Peace Presbyterian Church.
Giving to the Church | Outright Gifts | Income Gifts | Estate Gifts | EFT Giving