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The Long Term Gift Program is a financial program wherein
participants receive favorable lifetime income and tax benefits,
and the Fraternity receives funds to support the education of
priests for the third millennium and to accomplish its other
apostolic works. There are three basic components to the Long
Term Gift Program: the Gift Annuity Program,
the Pooled Income Fund, and the
Charitable Remainder Trust. |
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The Gift Annuity Program provides the benefactor with a fixed
lifetime income and an immediate tax deduction. The amount
invested in the program can range from small to very large.
Cash, bank certificates of deposit, appreciated common stock,
art, and real estate are all appropriate items for gifting in
this program. |
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The Fraternity Pooled Income Fund operates much like a mutual
fund. Participants make a contribution to the fund and receive a
variable rate income from it in return. The performance of the
fund dictates the income benefit to the contributor or
designated beneficiary. Like the Gift Annuity Program, the
Pooled Income Fund can provide a very competitive lifetime
income to the participant. |
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Charitable
Remainder Trust |
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The Charitable Remainder Trust provides the participant or the
designated beneficiary a fixed or variable lifetime income,
immediate tax deductions which can be carried forward for up to
five years, and relief from capital gains tax on appreciated
assets.
While the Fraternity does not
receive any funds from the trust during the lifetime of the
benefactor or the designated beneficiary, whatever amounts
remain in the trust at his or her death, or that of the
beneficiary, transfers to the Fraternity of St. Peter.
The Charitable Remainder Trust,
when combined with other estate planning techniques, can
significantly reduce or eliminate the tax that would be paid on
the estate. This trust ensures the Fraternity receives a portion
of the benefactor's estate rather than it being consumed by
estate taxes.
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Tailoring
Programs for Specific Individual Needs |
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While the Gift Annuity Program, the Pooled Income Fund, and the
Charitable Remainder Trust are the three most visible elements
of the Fraternity Long Term Gift Program, the Fraternity can
tailor a specific program to satisfy almost any request or
situation. For example, a Charitable Lead Trust could be
arranged for a participant who wishes to establish a trust which
produces annual income for the Fraternity for a fixed number of
years with the principal then returning to the participant or
his beneficiary. |
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As an initial step, it is recommended that prospective
participants contact the Fraternity Long Term Gift Program
Administrator to discuss the details of program options and
features. Whether a very modest or large estate, the Long Term
Gift Program can enable the benefactor to financially support
the important work of the Fraternity without reducing
any amount left to family members or other beneficiaries.
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For
More Information, please contact:
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Mr. Kevin J. McCann, LLC
LTGP Administrator for FSSP
300 Ozark Trail Dr., Suite 218
St. Louis, MO 63011
Phone: (800) 965-4160
Fax: (636) 227-8201
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