Leave a legacy of faith, compassion, and generosity

October 21, 2024

Catholic Foundation of Southwest Iowa

October is National Estate Planning Awareness Month — a perfect time to reflect on the legacy you leave to benefit others and how you leave it.

“Having a solid estate plan is essential to your financial well-being,” said Jodi Halligan, director of Development for the Catholic Foundation of Southwest Iowa. "It ensures that your wishes are honored, both during your lifetime and after you’re gone.”

Why Estate Planning Matters

Estate planning is about more than just drafting a will. It’s a comprehensive process that addresses the management and distribution of your assets in the event of incapacity or death. Here’s why estate planning is so important:

  1. Protect Your Loved Ones – Estate planning allows you to provide for your family and loved ones, ensuring they are cared for financially and emotionally after you’re gone.
  2. Avoid Probate – Proper estate planning can help you minimize the time and costs associated with probate—the legal process of validating a will and distributing assets.
  3. Minimize Taxes – With strategic estate planning, you can reduce the impact of estate taxes, preserving more of your assets for your beneficiaries.
  4. Healthcare Decisions – Estate planning allows you to designate someone to make healthcare decisions on your behalf if you become incapacitated, ensuring your medical wishes are respected.

Planned Giving

While estate planning covers a broad range of considerations, one crucial aspect that is often overlooked is planned giving. Planned giving allows you to incorporate charitable donations into your estate plan, supporting causes you care about and leaving a lasting legacy. Here are a few common types of planned gifts:

  1. Bequests in a Trust or Will – Including a charitable bequest in your will or trust allows you to designate a specific amount or percentage of your estate to a charitable organization.
  2. Donor Advised Funds – These funds enable you to contribute to a charitable fund and recommend grants to your favorite charities over time.
  3. Charitable Trusts – Charitable trusts, such as charitable remainder trusts or charitable lead trusts, provide income to beneficiaries while supporting charitable organizations.
  4. Gifts of Stock or Real Estate – Donating appreciated assets like stocks or real estate can offer tax benefits while supporting charitable causes.
  5. Gifts of Grain – For farmers, donating grain directly to a charitable organization can provide tax advantages while supporting important initiatives.

Your Partner in Planned Giving

The Catholic Foundation of Southwest Iowa helps you navigate the complexities of planned giving. As the planned giving office for the Diocese of Des Moines, our team is dedicated to guiding you every step of the way. Whether you’re considering a charitable bequest, setting up a charitable trust, or exploring other planned giving options, we’re here to support you.

Download Personal Estate Planning Kit

For more information or to discuss your planned giving goals, call 515-237-5044 or email contact@cfswia.org. Let the Catholic Foundation help you leave a lasting legacy of faith, compassion, and generosity.