Saron Evangelical Lutheran Church
Pastor Joan Oleson
Church Office
(269) 983-1273

Other Ways to Contribute to Saron


We recommend that you discuss any of the following approaches with your lawyer and tax accountant.

A Will

A will or testament is a legal document by which you express your wishes as to how your property is to be distributed at death.  A will names one or more persons to be the executor(s), who will manage the estate until its final distribution. A will may also create a trust that is effective only after your death.  The will also explains who is to take care of any minor children.

Charitable Remainder Trusts

A CRT lets you convert a highly appreciated asset like stock or real estate into lifetime income. It reduces your income taxes now and estate taxes when you die. You pay no capital gains tax when the asset is sold. And it lets you help one or more charities that have special meaning to you.

To do this, you transfer the appreciated asset into an irrevocable trust. This removes the asset from your estate, so no estate taxes will be due on it when you die. You also receive an immediate charitable income tax deduction.

The trustee sells the asset at full market value, paying no capital gains tax, and re-invests the proceeds in income-producing assets. For the rest of your life, the trust pays you an income. When you die, the remaining trust assets go to the charity you have chosen. That’s why it’s called a charitable remainder trust.

Charitable Gift Annuity

A charitable gift annuity is a contract between you and a charity, whereby you transfer cash or property to the charity in exchange for a partial tax deduction and a lifetime stream of annual income from the charity. When you die, the charity keeps the gift.

The amount of the income stream is determined by many factors including your age and the policy of the charity. Most charities in the United States use payout rates defined by the American Council on Gift Annuities.

Life Estate Agreement

A life Estate agreement is an agreement in which you transfer title to your personal home or farm to a charitable organization with a retained right to the use of the property for the rest of your life. On your death, all rights in the property are transferred to the charity.

IRA distribution  

If you have IRAs and you are over 70 1/2, you need to make taxable withdrawals from the IRA. You can however have your broker send a portion of your annual withdrawal directly to a charity without paying tax on the withdrawal as a Qualified Charitable Distribution.

Note – If you would like to make a gift for a specific purpose, please discuss your desire with the pastor or council chairperson prior to making the donation.

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