Planned Giving

By including The Sisters of Saint Joseph in your estate plans, you are helping to ensure the comfort and security of our retired and elderly Sisters and continue the ministries of the Sisters in today’s world.

You can support the Sisters with a contribution with gifts that don’t impact the way you live by designating the Sisters of Saint Joseph of Rochester to receive estate assets in the future, or by making immediate gifts to us of assets that are “out of sight and out of mind.”

Gifts from Your Will or Trust

You can include a bequest to The Sisters of Saint Joseph of Rochester in your will or trust. The bequest can be made in the form of a stated dollar amount, a stated percentage of your estate, or specific property. Your assets remain in your control during your lifetime and under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.

Gifts by will or living trusts for the benefit of The Sisters of Saint Joseph of Rochester may be for a set dollar amount, a percentage of the total estate, or the residual amount (funds leftover after all expenses have been paid).

Sample Gift Language:

I give and devise to The Sisters of Saint Joseph of Rochester, located in Rochester, NY, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).

I give and devise to The Sisters of Saint Joseph of Rochester, located in Rochester, NY, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific ministry).

If (insert name) is not living at the time of my demise, I give and devise to The Sisters of Saint Joseph of Rochester, located in Rochester, NY, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific ministry).

Gifts from a Retirement Plan

Retirement plan assets (IRAs, 401(k), 403(b), etc.) offer another easy method for planned giving. The funds can be transferred at death by naming The Sisters of Saint Joseph of Rochester as either the primary or contingent beneficiary of the account. As these funds are not distributed until your passing, they are not subject to estate tax or income tax.

Donors should consult with their tax advisor regarding the tax benefits of such gifts.

Gifts of Stock and Appreciated Assets

A gift of stock and appreciated assets allows you to take advantage of appreciated securities without incurring capital gains tax. With this plan you transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to The Sisters of Saint Joseph. We sell your securities and use the proceeds for our ministries and for the retirement needs of our Sisters.

The benefits are that you receive an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the transfer when the stock is sold, and giving appreciated stock could be more beneficial than giving cash.

Gifts of Life Insurance

With respect to life insurance, your needs change over time. There are a few simple ways to make life insurance gifts that will give you tax benefits now and reduce your estate taxes later:

• You receive a charitable deduction when you name as beneficiary and assign ownership of the policy to The Sisters of Saint Joseph of Rochester.

• You can retain ownership but name as beneficiary, The Sisters of Saint Joseph of Rochester.

• You may name your family and, as contingent beneficiary, The Sisters of Saint Joseph of Rochester.

Charitable Gift Annuities

A charitable gift annuity is a simple life income agreement between a donor and the diocese. In exchange for your gift, designated to The Sisters of Saint Joseph of Rochester, you receive fixed payments for your lifetime and/or the lifetime of another person. You may be entitled to a partial tax deduction in the year of the gift, and a portion of each payment may be tax-free for a period of years as well. The size of the payments is based on the amount of the gift and the annuitant’s age. Gift annuity plans start at $10,000, and are restricted to donors 65 years or older.

If you wish to name The Sisters of Saint Joseph of Rochester as a beneficiary in your will or estate plan, we should be named as:

The Sisters of Saint Joseph of Rochester, Inc.
150 French Road
Rochester, NY 14618
Tax ID # 16-0743089

Always consult your financial advisor, tax advisor or attorney to determine the best possible option for you.

To learn more about these plans and for assistance in choosing the right one for you, please contact Dawn Gruba at dgruba@ssjrochester.org or (585) 641-8172.

If you have remembered The Sisters of Saint Joseph in your will or have planned to make a gift in the future through other estate planning vehicles, we would be delighted to welcome you as a member of the Holy Family Legacy Society.