Legacy & Planned Giving - St. Augustine Health Ministries

Legacy & Planned Giving

Estate and Planned Giving

Consider naming St. Augustine Health Ministries / Holy Family in your will by designating a specific dollar amount or a percentage of the balance remaining in your estate after all other specific bequests, expenses and taxes have been paid.

A planned gift not only demonstrates commitment to the mission of St. Augustine Health Ministries, it ensures the long-term strength of our services and programs.

You can remember St. Augustine / Holy Family when you create your will or add a bequest to an existing will or estate plan as a codicil by using the following language: “I give and bequeath (insert amount or % of my estate) to St. Augustine Manor (legal name), with its main office at 7801 Detroit Ave., Cleveland, OH 44102 to be used for (insert a program area, special fund or general purpose).

You can assure that your legacy continues long after you are gone through a variety of planned gifts, including bequests and charitable and special needs trusts, and other estate gifts including IRAs, retirement accounts and life insurance policies.

Planning allows a donor, while making a major gift of support to their charity of choice, to be open to receiving considerable tax advantages such as income, capital gains taxes, federal income taxes, and estate taxes. It is essential to work with a financial planner or estate planner who will be able to discuss all the options and determine the best plan.

Stock Donations

Some of the most favorable tax benefits are generated by contributions stocks and/or bonds. In addition to receiving a charitable deduction for the full, fair market value of the gift, the donor may avoid any potential tax on the capital-gains of the gift, as well as sales commission that would be payable upon the sale of the assets. Consult your personal financial planner.

Gifts of appreciated stock can be made at any time and can be designated to one of our programs areas or special funds. Stock is transferred to St. Augustine’s brokerage account, at which time St. Augustine Health Ministries sells the stock. Call the Advancement Office at 216-939-7602 for information on mailing or electronic transfer of stock.

Retirement Plans

Assets, such as retirement plans, life insurance and insurance annuities, are not controlled by the terms of your will. These assets instead require separate beneficiary forms. The beneficiaries of these assets can be easily modified at any time to meet your changing needs.

You can assign annual dividends from policies or designate St. Augustine Health Ministries as a beneficiary or as a secondary beneficiary of an insurance policy, IRA, 401(k) or other retirement plans. You can designate a specific dollar amount or a percentage and specify a particular program area or special fund.