Planned Giving Options
Thank you for your interest in making a planned gift to UU Princeton. Here you will find basic information about how to make a planned gift, including sample language you may wish to use to make a bequest.
When you notify us of your intended bequest using the Legacy Intention Form, you will join other generous individuals who share a commitment to helping future generations to continue the mission of our congregation. We will gratefully welcome you as a member of our Chalice Lighters’ Circle.
Please note that this information is provided for general information only and is not intended to be legal or financial advice. We encourage you to seek legal and/or financial planning advice as you make your decisions regarding planned giving.
Bequests from Your Will or Living (Revocable) Trust
You can use your will or living trust to give a specific dollar amount, or a percentage of your estate, or specific property, to the congregation. You can also make a residual bequest from the remaining assets in your estate after all other specific bequests and settlement costs are satisfied.
The advantages of a bequest include:
- Simplicity. Just a few sentences in your will or trust are all that is needed.
- Flexibility. Because you are not actually making a gift until after your lifetime, you can change your mind at any time.
- Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to us.
- Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
The following sample language can be used by you and your attorney to make a bequest to UU Princeton in your estate plan:
Percentage Bequest: I give, devise and bequeath __________ % of my gross estate, as determined as of the date of my death, to the Unitarian Universalist Congregation of Princeton, a nonprofit organization located at 50 Cherry Hill Road, Princeton, NJ, 08540, Federal Tax ID #21-0694751, for its unrestricted use.
Specific Amount: I give, devise and bequeath $ ______________ to the Unitarian Universalist Congregation of Princeton, a nonprofit organization located at 50 Cherry Hill Road, Princeton, NJ, 08540, Federal Tax ID #21-0694751, for its unrestricted use.
Residuary Bequest: I give, devise and bequeath [ALL/A PERCENTAGE OF] the rest, residue and remainder of my estate to the Unitarian Universalist Congregation of Princeton, a nonprofit organization located at 50 Cherry Hill Road, Princeton, NJ, 08540, Federal Tax ID # 21-0694751, for its unrestricted use.
Contingent Bequest: If [PRIMARY BENEFICIARY] does not survive me, then I hereby give, devise and bequeath [DESCRIPTION OF PROPERTY] to the Unitarian Universalist Congregation of Princeton, a nonprofit organization located at 50 Cherry Hill Road, Princeton, NJ, 08540, Federal Tax ID #21-0694751, for its unrestricted use.
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to meet your charitable objectives.
When making a restricted bequest, we recommend that your attorney include the following provision to give UU Princeton flexibility should it no longer be possible for the congregation to use your gift as you originally intended:
If, in the judgment of the Board of Trustees of the Unitarian Universalist Congregation of Princeton (UUCP), it shall become impossible for UUCP to use this bequest to accomplish the specific purposes of this bequest, then UUCP may use the income and principal of this gift for such purpose or purposes as the Board of Trustees determines is most closely related to the restricted purpose of my bequest.
Retirement Plan Assets
Many individuals today have substantial qualified retirement plans such as IRAs, 401(k) plans, or 403(b) plans. The congregation can be designated as a beneficiary of all or a percentage of what remains in these accounts at death. This is the easiest way to leave a legacy to UU Princeton, because it does not require changes to your will or trust.
Moreover, this type of gift may help you get the most value from your estate and protect your heirs from taxes. Retirement plan assets are subject to income taxes of as much as 35% when paid out to your heirs, while a payment to a nonprofit organization such as UU Princeton is not subject to federal tax. You should contact your plan administrator to complete the appropriate forms (often available on-line) to carry out your wishes.
A traditional life insurance policy (with an accumulated cash value) can be a valuable asset. Some people no longer need the life insurance that was purchased many years ago to provide for children or other family members. If you are in this situation, you could name the congregation as a full, partial, or contingent beneficiary of the policy. Change of Beneficiary forms are typically available online from your insurance company.
Gift Annuities & Trusts
There are several options for gift annuities and trusts:
- Charitable Gift Annuity
- Pooled Income Fund
- Charitable Remainder
Because these long-term gift options are managed through the Unitarian Universalist Association, it is suggested that the donor grant a portion of any remainder to the UUA.
Charitable Gift Annuity
A Charitable Gift Annuity through the Unitarian Universalist Association (UUA) is an arrangement whereby you contribute cash or marketable securities to the UUA, in exchange for the Association’s contract to pay one or two people a guaranteed income for life, a portion of which may be tax-free, as well as certain tax deductions. You receive a charitable income tax deduction for the gift portion of the annuity. Afterwards, our congregation and the UUA will receive the remainder of the assets, according to your prior instruction. See the UUA for more information.
Pooled Income Fund
The UUA Pooled Income Fund combines and invests your gift of cash or marketable securities with the gifts of others, and pays participants a proportionate share of the fund’s actual quarterly interest and dividend income. The pooled income fund makes quarterly payments to one or two people for life. Afterwards, the fund distributes the assets to the UUA, which will in turn forward funds to our congregation, according to your prior instruction. View the PDF from the UUA on this.
Charitable Remainder Trust
A Charitable Remainder Trust is a separately invested, irrevocable trust that you can create using a wide range of assets, including cash, securities, closely held stock, or real property.
You then designate a person or persons to receive annual income payments of at least 5%. At the conclusion of the income payments, the remaining trust principal is distributed to our congregation and the UUA according to your prior instruction. See the UUA Charitable Remainder Unitrust page or Charitable Remainder Annuity Trust page for more information.
Gifts Acceptance Policy
We accept planned gifts in accordance with our Gift Acceptance Policy below. Your financial and legal advisors can help with the best option for you.