How do you want to be remembered?
You can include First Presbyterian Church in your financial and estate plans through various strategies. A planned gift can be made during one’s lifetime or at death as part of an overall financial and estate plan. For the strategies below, confirm with a financial advisor, tax professional, and/or an attorney*
Strategies Include but are not limited to:
- Gifts Appreciated Stock and/or Real Estate
- Retirement Account Gifts via Qualified Charitable Donation after age 72
- Naming First Presbyterian Church in your will or as a beneficiary of an IRA and/or Life Insurance Policy
- Making a gift to First Presbyterian Church from your Donor Advised Fund
- Gift an automobile or other assets
- Funding a Charitable Gift Annuity and a Charitable Remainder Trust
Read more about Charitable Gift Annuity & Charitable Remainder Trust
A Charitable Gift Annuity is an agreement between an individual and First Presbyterian Church of Chattanooga (FPCC). You make a gift to FPCC of either a lump sum of cash or appreciated securities such as stocks, CDs, or mutual funds. In return, you receive immediate tax benefits and FPCC will pay you a fixed sum for life. Then, at the time of your death, the remainder of the gift goes to FPCC.
A Charitable Remainder Trust may be right for you if you have appreciated securities or real estate that you want to sell, but are hesitant to sell because of possible capital gains taxes. Once a gift is made, the trust assets are then sold with no depletion of capital gains. The proceeds are invested in a portfolio, managed by FPCC and you receive immediate tax benefits and income from the trust for life. At the time of your death, the remainder of the trust assets go to FPCC.
To know if either of these strategies are right for you and your situation, please contact the church along with your legal and/or financial advisors.
*First Presbyterian Church of Chattanooga does not render legal or tax advisory services. For advice and assistance in specific cases, the service of an attorney or other professional advisor should be obtained. The purpose of this publication is to provide information of a general nature only. Watch for changes in tax laws. Wills, trusts, and charitable gifts made in a contractual agreement are governed by state laws. Advice from legal counsel should be sought when considering these types of contracts.