LOCAL DIOCESAN NEWS
|Respect Life Mass and LifeFest|
“Created in God’s Image: The Dignity of the Human Person” is the theme of this year’s LifeFest, scheduled for Saturday, October 10 at the Tracy Center. Activities begin at 10 AM and will include a keynote address from Brian Butler, various breakout sessions, special music, Eucharistic adoration, and a kids’ activities track. The day is free, will include lunch, and will conclude with Bishop Robert Muench and a Respect Life Mass at 4. Visit www.MFLDIOBR.org to register.
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Designate Your Assets to Help Others
If you are looking for an easy way to support the Diocese of Baton Rouge, but can’t part with assets today, consider designating the diocese as the beneficiary of your retirement plan assets or insurance policies. When you support the diocese through a beneficiary designation, you can have peace of mind knowing that your plans can be altered at any time. Consider the following options:
Retirement plan assets make a tax-wise gift. If your children are the beneficiaries of your retirement plan assets, federal income taxes may erode up to 39.6 percent of the amount they receive from your plan. In contrast, the diocese is tax-exempt and eligible to receive the full amount. Life insurance is a low-cost way to provide a gift, as well. If you name the diocese as contingent beneficiary, the diocese will only benefit if your primary beneficiary predeceases you. Insurance annuities carry an income tax burden, making your named beneficiary responsible for paying the income tax due on the growth of your annuity. The tax burden makes these assets a popular choice to leave to the diocese because that can eliminate the tax bill on the portion received.
How to Name Us as Beneficiary
To name the diocese as beneficiary of any assets, contact your retirement plan administrator or insurance company for a change-of-beneficiary form. Decide what percentage you would like to give, and name the diocese, along with the percentage you chose, on the beneficiary form. Then return the form to your plan administrator or insurance company.
For More Information
Consulting an estate-planning attorney is a smart investment that can save you and your family money and heartache in the long run, too. Please seek legal advice before deciding how you will handle your estate plan.
For additional information concerning Diocese of Baton Rouge Planned Giving opportunities, please visit the “Plan My Legacy” page through the Office of Stewardship website: http://officeofstewardship.planmylegacy.org
- Published on Wednesday, 30 September 2015 22:02
- Written by Stewardship Today Staff
Catholic Life Television broadcasts the Tuesday Midday Mass, live from St. Joseph Cathedral at 12 Noon, and rebroadcasts the service at 6 PM. Visit www.catholiclifetv.org for a variety of daily Catholic programming.