Planned gifts are our gifts from God’s generosity to us that we make after our death or during our lifetime that are in addition to our annual tithes. A planned gift to St. Mary creates a Legacy, your Legacy. The Orthodox funeral service reminds us that our treasure means nothing to us upon our death.

But a planned gift of our treasure, regardless of size, makes a difference. Such giving allows St. Mary to continue to serve your family, friends, and community after you are gone. St. Mary is an important part of your Legacy and can easily be included in your estate and gift planning.

How to Leave a Legacy

You do not need the treasure of Warren Buffett to leave a Legacy. Making a legacy gift to St. Mary can easily be incorporated as part of your planning for your family:

• Beneficiary Designations. Have you named family members or friends as beneficiaries of your financial accounts, Individual Retirement Accounts, annuities, investment funds, or life insurance policies?

You can name St. Mary as the beneficiary or as an additional beneficiary on such accounts. For example, St. Mary can receive a specific amount ($1,000) that you specify on the beneficiary designation form or a specific percentage (10%) of the account. No income tax is paid when distributions from tax-deferred accounts (such as IRAs and tax-deferred annuities) are made to St. Mary.

The name to use on a beneficiary designation form is: St. Mary Orthodox Christian Church, Wichita, KS. 

Income Tax Planning Opportunity for IRAs during your lifetime: A gift to St. Mary can reduce your taxable income if you make it through a qualified charitable distribution (QCD) from an IRA. This may be important if you use the increased standard deduction and do not itemize your deductions. A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity such as St. Mary. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year as long as certain rules are met. A QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce income tax on Social Security benefits and premiums for Medicare.

• Wills and Trusts. Do you have a last will and testament or revocable trust that directs the distribution of your estate to family or friends upon your death?

Please consider naming St. Mary as a beneficiary when you prepare your estate planning documents. You can easily add St. Mary as an additional beneficiary under your existing documents through a codicil or trust amendment. You can gift St. Mary a specific amount ($1,000) or a specific percentage (10%) of your assets.

 The name to use in the last will and testament or the trust agreement is: St. Mary Orthodox Christian Church, Wichita, KS. 

• Property. Do you have a car, a house, or a collectible that your family or friends do not need or want? Do you have investment property such as land or stock that has appreciated in value?

 You can potentially reduce your tax bill or the tax bill of your beneficiaries by designating St. Mary as the recipient of such items. St. Mary can use them to benefit the parish family and the less fortunate in our community. 

The name to use in your documents or on a bill of sale (lifetime gift) or a deed of real estate is: St. Mary Orthodox Christian Church, Wichita, KS.