Development Office

The Foundation of the Roman Catholic Diocese of Buffalo

COMMONLY ASKED QUESTIONS

MUST I SPECIFY HOW MY PLANNED GIFT WOULD BENEFIT THE DIOCESE, MY PARISH OR SCHOOL?

You can either designate the purpose of your gift or not. Examples of a designated gift might be a scholarship for a parish schoolchild, the upkeep of the church building, or the school endowment. If you give a gift without stating its purpose, it can be used where the need is greatest.

HOW WILL COMMUNICATING MY PLANS INSPIRE OTHERS?

The majority of parishioners are unaware of planned-giving. If you communicate your intentions to make a planned-gift, your example gives encouragement and offers inspiration to others to consider a similar action. Communicating your decision does not mean that you need to specify the gift amount unless you wish to do so. For example, an announcement in your parish bulletin or diocesan magazine might read:

"A couple, who are long-time parishioners of (name of parish), have remembered the parish in their will. I thank them for all of us and ask that you say a prayer for them.

or,

"Joan Smith of (name of parish) has offered her legal services to help parishioners who also want to include the parish in their estate planning."

By sharing your planned-gift intentions, you also will be enrolled in a diocesan recognition program for planned-giving donors.

I AM HESITANT TO TELL THE DIOCESE, MY PARISH OR SCHOOL ABOUT MY PLANNED-GIFT. WOULD THAT CREATE A PROBLEM?

No, but you would not be enrolled in the diocesan recognition program, until written notice of your gift is received. You need not specify your planned-gift because circumstances may change, and there is a possibility that your plans may need to be revised. You can change most planned-gift arrangements, with the exception of some trusts. If you would like to have your gift remain anonymous, you need only to state that intention.

WHO CAN I CALL TO HELP ME MAKE ARRANGEMENTS AND DETERMINE THE BEST TYPE OF GIFT FOR MY CIRCUMSTANCES?

Your attorney or accountant will have information on the tax consequences of any charitable donations you choose to make. Charitable gifts may affect the amount of estate taxes paid because the value of your gift to the Diocese, parish, school or other initiative is not included in your taxable estate. Your lawyer, accountant or tax specialist can advise you as to how your gift would affect your estate.

In discussing a bequest with your financial advisor, be sure to use the correct legal name of the Diocese, parish, school or other Catholic initiative you are making the gift to. Your advisor can obtain that information from your parish office without disclosing either your identity or the specifics of the gift, unless you choose to notify them.