What is a Legacy Gift to UUFSC?

A legacy gift is a planned future donation to our Fellowship. It is typically the single most significant donation that an individual makes to the Fellowship. Planned giving can have a profound impact on the Fellowship’s mission. It is a decision that each person makes in his or her financial planning process, taking into account their charitable desires and values.

Why create a legacy gift?

Members and friends of the Fellowship create legacy gifts for many different reasons. For some, it is a way to ensure their memory lives on. For others, it is a way to ensure that the Fellowship is able to continue its very important work. Others find that it represents a way to facilitate the tax implications that come with the transfer of one’s estate to surviving relatives.

What better way to thank the organization that has had an impact on your life, or the life of someone you love, than by making a donation from your estate? By creating a legacy, you are making a significant contribution to the future sustainability of the Fellowship and its important work.

How do you create a Legacy Gift?

A legacy gift can easily be created in a number of ways, including:

1. Wills – you can leave a bequest in your will of either cash or other property
2. Codicil – if you already have a will, you can use a codicil to add information to your will without needing to revise it
3. IRA or Retirement Accounts – you can name the Fellowship as the beneficiary of all or a portion of a retirement account. Changing a beneficiary designation is easy to do and can be done free of cost.
4. Life Insurance – Similar to retirement accounts, you can name the Fellowship as a beneficiary for any portion of your life insurance policy that you deem appropriate, without incurring any legal fees.
5. Charitable Gift Annuity – When you purchase a Charitable Gift Annuity, you can receive income from this irrevocable investment during your lifetime and the remaining principle will only go to your designated charity thereafter or as you dictate. You also receive an immediate charitable deduction, subject to tax law limitations, for the amounts put into this account. While such investments are available from various financial institutions, you can also purchase this type of annuity directly through the Unitarian Universalist Association (UUA). For more information about, please go to http://plannedgiving.uua.org/charitable-gift-annuities.
6. Charitable Trusts – While generally more complex and costly to establish, the use of a charitable trust can provide the donor with more flexibility and control in making their charitable bequests.

Please consider a legacy gift to the Fellowship when you are evaluating your personal, family and financial needs as well as your long-term charitable giving. Every legacy gift, regardless of the amount, is important and cherished. We encourage you to review your estate planning with your lawyer or financial and/or tax adviser.

More Information

Please feel free to speak with our Treasurer or any member of the Stewardship Committee regarding your planned legacy gifts to the Fellowship or other UU organizations. See the UUA web site at http://www.uua.org/giftplanning for additional information regarding planned giving.

This information and material is intended to provide general examples and is for illustration purposes only. UUFSC does not give legal or financial advice and strongly recommends that donors review this information and material with independent legal, financial and/or tax advisers.