ST. ANDREW’S UNITED CHURCH (COCHRANE) LEGACY GIFTS FUND
What is Legacy Giving?
A Legacy Gift (also known as a planned or estate gift) is a gift made from an estate or accumulated financial assets rather than regular income. In the United Church more than 90 percent of legacy gifts are gifts made through bequests in wills. Regular giving generally comes out of a person’s regular income while a bequest comes out of assets left at death, when current giving ceases. Therefore, when someone includes a gift to the church in their will their current giving is generally not affected.
Purpose of the Legacy Gifts Fund
Legacy giving is another way for members and adherents to support the ministry of the church. It also provides an opportunity for individuals to leave a legacy. Many dedicated members and adherents have a strong commitment to their faith and to the ministry of St. Andrew’s United Church (Cochrane). They should be given the opportunity to reflect that commitment in their will or other legacy gift.
The Fund is intended to be separate and distinct from all other church funds. It is not intended that money from the Fund be used to cover regular and ongoing operational requirements of the church. The Fund is less likely to interfere with current giving if it is used to expand the ministry and mission outreach of St. Andrew’s United Church (Cochrane).
The Legacy Gifts Committee will promote the donation of undesignated gifts to the Fund. Undesignated gifts are those with no conditions attached to the use of the funds
Any gifts that specify the use to which the gift is to be put will be known as designated gifts and will be handled as separate funds within the Legacy Gifts Fund. Such gifts will be used in accordance with the intentions stated by the donor.
It is expected that most donations to the Fund will be bequests through wills, United Church Gift Annuities, gifts of securities, and life insurance.
The money from the Fund will not be used to cover regular and ongoing operational requirements of the church. Rather, money from the fund will be used for development and enhancement of the ministry of St. Andrew’s United Church (Cochrane) in areas such as the following:
- Outreach activities (can include M&S support or local community emergencies)
- Youth ministry and programs
- Music and worship enhancements
- Capital improvements/emergency debt retirement
Members and adherents interested in learning more about legacy giving should contact a member of the Legacy Gifts Committee.
Members and adherents may also wish to contact a Financial Development Officer from the United Church. The name of the United Church’s Financial Development Officer for our area can be obtained by contacting the church office or by contacting the national office of The United Church of Canada.
Anyone wishing to make a legacy gift to the church is encouraged to seek professional advice (lawyer, chartered accountant, etc.). Donors are also encouraged to discuss their gifting intentions with their family.