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Seeds of the future

Williamsburg Presbyterian Church has formed a Legacy Giving Program. This program is designed to provide for the long-term mission of the church, ensuring there is funding for new ideas and initiatives while also extending existing programs.

Let’s show our gratitude for God’s manifold blessings.

All of us are indebted
to the past,
to those who preceded us.
We drink from wells we have not dug.
We enjoy liberties we have not won.
We share faith whose foundations
we have not laid.
At the same time,

We are the seeds of the future

for those who will succeed us. We dream and envision and set things in motion. The fruition of our decisions will be known only to others whom we will not meet. We are called to partner in faith with those who have gone before us and to offer the best that we have to those who will follow.

Types of Legacy Gifts

Legacy gifts can be structured many ways. Below are brief explanations of eight ways that people plan their legacy gifts for entities such as Williamsburg Presbyterian Church.

Bequests

A bequest can be written to give a stated amount to any charitable organization you specify, a percentage of your estate, or a residual amount after expenses and other bequests have been deducted.

Charitable IRA Rollover (QCD)

An individual aged 70 ½ or older may make direct gifts from an Individual Retirement Account up to $100,000 per year. These Qualified Charitable Distributions (QCDs) are not subject to federal or state taxation.

Gift of Appreciated Stocks

Gifts of appreciated securities may offer the benefits of reduced tax liability while furthering a charitable goal. Using appreciated securities that you have held for over one year to make a charitable gift may avoid the long-term capital gains tax and possibly allow you to deduct the full fair market value of the stock.

Gift of Insurance Policy

Giving life insurance may offer you benefits, and a chance to make a gift when other options are not feasible, policies may no longer be needed or serve the purpose for which they were originally intended, such as a business that no longer exists, or for children, or loved ones who may not need the additional income.

Gift of Real Estate

Real estate can provide unique giving opportunities, particularly if it has increased in value. Sizable, capital gains often occur when property that has been held for many years is sold. A gift of real property should be readily marketable for sale.

Retained Life Estate

A residential property (or a farm) may be deeded to a charitable organization and the donor reserves a life estate for the balance of the donor(s) life or lives. This transfer allows the donor(s) to receive an immediate charitable income tax deduction for the value of the gift.

Charitable Remainder Trust

A charitable remainder trust is a way to make a future gift to the Church or its mission while receiving income during your lifetime. The trust may offer certain tax advantages as well. A charitable remainder trust involves an irrevocable transfer of assets to a trustee and the creation of a trust agreement. The trustee manages assets and makes payments to the income recipient.

Charitable Lead Trust

A charitable lead trust is appealing to individuals who may be subject to a large estate tax. The donor establishes and funds an irrevocable trust. The charitable beneficiary named by the donor receives payments from that trust, usually for a set time of years. At the end of the term, the trust assets are returned to the donors’ estate or passed on to heirs.

The Cornerstone Society recognizes those who make a gift now or identify themselves and make a commitment to the Legacy Giving Program. That commitment could be through including WPC in your estate planning, and it could also be through a contribution from current assets. Either of these actions demonstrates your commitment to strengthening and extending the mission and ministry of the church for the benefit of this and future generations. As a member of this society, you’ll receive regular communication on our progress.

Want to know more?

We welcome your inquiries! If you have questions or would like to learn more about the program, you can contact us by email at , or by calling the church office at 757-229-4235 for assistance.