People leave planned gifts to UUC for many reasons. For some, it’s a way to say “Thank you” for how the church has touched their lives. For others, there are significant tax and estate planning benefits that come with a planned gift. Some donors have said that a planned gift to UUC is their last teachable moment for their children and grandchildren—a final gift that affirms their commitment to a generous life. For still others, a planned gift is their way to help ensure the future of our beloved church.
Keep reading, or click a topic below to skip to that section:
- Is planned giving for me?
- What is Camilla’s Circle?
- Do I need a will? An attorney?
- What is a bequest?
- What is a charitable gift annuity?
- What are the Knatvold and Jones funds?
- How should I list UUC in my will or as a beneficiary?
- Links to previous articles
Is planned giving for me?
A common myth is that planned giving is just for the wealthy. A planned gift is not about the amount of money you can give away—it’s about the legacy you want to leave after your death.
Whatever your reasons to consider a planned gift, we hope this page, and the links to resources, will be a first step on your journey to explore your goals and dreams for supporting UUC.
What is Camilla’s Circle?
When you designate UUC to receive a planned gift you will become a member of Camilla’s Circle, our congregation’s legacy society. Named after long-time member Camilla Knatvold, members of Camilla’s Circle are held in high esteem because of their commitment to our church’s future. During the year Camilla’s Circle members are invited to join in special opportunities to thank them and help them continue to learn about the importance of their planned gift, as well as stage-of-life issues. These opportunities have included a speakers’ series about aging issues, events in partnership with other nonprofit organizations, a tour of the new church building, and private thank you events.
Do I need a will? An attorney?
Most financial and legal advisors agree the first thing you should do is create a will. Whether or not you decide to make a planned gift, a will protects your heirs and makes certain your wishes are executed. If you don’t make it known how your assets should be passed on, a Court will do it for you—after you die. AARP article: Do I need a will?
Whether you decide to use an attorney to create your will is an individual choice. While UUC can’t recommend an attorney, per se, we can share a list of attorneys that our members have worked with in recent years. In addition, if you would like to work on your documents yourself, one resource for creating a free, online will can be found at freewill.com
Now, let’s review some planned giving basics. Planned giving is also referred to as “gift planning” or “legacy giving.” Typically, planned gifts come from assets rather than cash and are paid in the future instead of the present. Forbes article: What is Planned Giving?
What is a bequest?
The most common planned gift is a simple “bequest,” which can be a lump sum or a percentage of your estate. Bequests can be in the form of cash, stock, property such as artwork or a residence, or a gift that comes from a specific source like a bank account. Bequests are usually revocable. Fidelity article: What are bequests?
What is a charitable gift annuity?
Some planned gifts return income or other financial benefits to the donor. Those arrangements are an irrevocable contract between the donor and the church and are called “charitable gift annuities” (CGA.) ACGA article: What are charitable gift annuities? CGAs can provide you fixed payments for life in exchange for your gift to UUC. It’s usually wise to consult with an attorney or financial planner before you make any planned gift, but setting up a CGA requires professional expertise. The church office can also direct you to helpful resources if you are considering one of the many types of charitable gift annuities.
You don’t have to change your will to make a planned gift to UUC. Usually this includes adding UUC as a beneficiary to your bank accounts, investment accounts, life insurance policies, or retirement assets. Leaving your planned gift this way can mean significant tax savings to your other beneficiaries.
What are the Knatvold and Jones funds?
UUC allows significant donor discretion with planned gifts. Unrestricted gifts are added to the principal of the Knatvold Legacy Fund. The Board of Trustees decides which activities of the church will be supported by Knatvold earnings. This account offers UUC the most flexibility. If you want to preserve the principal of your planned gift it will be directed to The Floyd and Delores Jones Endowed Fund. The Board has no discretion over the principal of the Jones Fund. It must remain intact over the long-term, and proceeds go to general programming and operations support of the church. Named endowment funds may also be an option and require an agreement of understanding between UUC and the donor.
Thank you for your interest in a planned gift to UUC. We are here to help you get started. If you have general questions about our planned giving program or Camilla’s Circle, please contact Steve Carlson at 206-484-5302 or email@example.com. If you have decided to make your planned gift or have specific questions about our current Funds, creating a named endowment fund, or charitable gift annuities, please get in touch with UUC’s Director of Operations, Byron Krystad at 206-454-7723 or firstname.lastname@example.org.
How should I list UUC in my will or as a beneficiary?
Thank you for including UUC in your planned giving. Please be sure to correctly list UUC by our legal name, address, and Federal Tax ID:
Legal Name: University Unitarian Church of Seattle
Address: 6556 35th Avenue NE, Seattle, WA 98115
Federal Tax ID Number: 91-0593062
Links to previous articles
- Do You Have the Will? (February 8, 2019)
- Looking for a Way to Save on Your 2018 Taxes? (November 21, 2018)
- Answering Some Questions About the Journey We Call “Aging” (November 17, 2018)
- The Power of Planning (October 16, 2018)