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Passionate about supporting the Diocese of Lafayette with our mission even after your lifetime? It's not only possible, it's easy to do with a beneficiary designation. Just name the Diocese of Lafayette or one of its affiliated funds as a beneficiary to receive assets such as retirement plans and life insurance policies after you're gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.
Not only is it an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
Naming the Diocese or affiliated fund as both owner and beneficiary of a life insurance policy can provide immediate tax benefits to you. For instance, you may be entitled to an immediate tax deduction for the accumulated cash value of a life insurance policy (if any) and a future deduction for any subsequent premiums that are paid.
Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity? Each of these plans contains income that has yet to be taxed. When a distribution is made from your retirement plan account, your beneficiaries will owe federal income tax. Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to the Diocese of Lafayette to support our work. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan.
In many cases, updating beneficiaries may be completed online or via a simple form and multiple beneficiaries may be named. Contact the Office of Stewardship and Development to learn more about shaping the future of the Diocese of Lafayette through a gift of life insurance or naming us as a beneficiary on your retirement account.