Bequests are a simple and easy way to include St. James in your estate plans. It’s not simply for the wealthy folks. It’s a meaningful way for everyone to help others. Including St. James as a beneficiary in your will or trust is a great way to have a lasting impact on the life of this church as well as the community around us. Large or small, your bequest gift will make an important contribution to the strength and mission of the future of St. James beyond your lifetime.

There are several basic ways you can include St. James in your will:

• You can make a gift of a specific dollar amount. For example, you can specify a gift of $50,000, or any amount, from your estate proceeds.
• You can make a gift of specific items. For example, you give 1,000 shares of XYZ Corporation stock.
• You can make a gift that will be made only if specific conditions are met. For example, you give $50,000 after the passing of the second spouse.
• You can make a gift that will be made from the remainder of your estate—as a percentage—once all other bequests, debts, and taxes are paid. For example, you can include St. James as the beneficiary of 25% of your estate.

There are other ways you can also make an impact on St. James beyond your lifetime:

• Retirement Assets: One of the easiest and fastest ways to include St. James in your legacy plans is naming St. James as a beneficiary for your 401(k) or other retirement plan, IRA accounts, or tax-sheltered annuity. This can normally be done online or with your financial professional in minutes.
• Tax-Efficient Gifting: If you name St. James as the beneficiary of some of or all of your IRA or retirement accounts, it allows for tax-efficient legacy giving by avoiding income taxes on your pre-tax IRAs and retirement accounts as you are leaving it to a non-profit entity.
• Life Insurance: This is a valuable asset for making a charitable gift. It can be made without diminishing other investments or assets earmarked for family members. It also leverages up your initial investments, multiplying the benefit. You can either give the policy to St. James or designate St. James as a beneficiary of your policy.
• Donor Advised Fund (DAF): This is an increasingly popular way to make a charitable gift. If you have a DAF, you can make the tax-deductible charitable donation now and gift it to St. James on the timeline of your choosing. You can also create a succession plan to recommend St. James receive all or a portion of the fund value upon your passing or continue giving through your successor advisor from the DAF. You can also specify a distribution to St. James upon future termination of the fund.

If you have St. James as part of your estate or legacy planning, we want to know (although it is not required)! Knowing we’re included allows us to have a conversation with you now about your intentions for the gift, whether specific or general. Email stewardship@stjamesnewport.org and we will arrange a time to talk with you.

Did you know more than 50% of Americans pass away without any estate planning? If you don’t currently have a will or a trust, it can be a very costly, lengthy, and public process to go through probate. We can help you understand whether a trust or a will may be more appropriate for you, what the differences are, and help you find an appropriate estate planning professional. There are also quick, easy, no-cost online resources for creating a will or trust that will ensure that you get to determine where your estate gets distributed instead of the state and probate courts making those determinations. Freewill.com will help you set up a legally binding will in about 20 minutes for free. It is typically best to consult a professional for guidance and assistance.

The average annual pledge at St. James in 2024 was just over $7,096. This is higher than the national average of $3,200 due to demographics, commitment to stewardship, and enthusiasm to support our active ministry and community activity. We currently have about 103 households that give an annual pledge to St. James.