Stewardship: Your Legacy

Stewardship is the response of a grateful heart for all the gifts bestowed on us by God. Stewardship is the willing return to God for all that He has done for us, whether it be in the form of our time, treasure, or talent. Our Lady of Sorrows has plentiful opportunities for you to make a gift of your time and talent. Please be sure to check out this website for various ministry and service opportunities.

Of course, Our Lady of Sorrows is also very dependent on your financial generosity. We are a vibrant parish community that depends upon the material support of its faithful parishioners to offer the ministries and services necessary to help build up the Kingdom of God among us. Our annual operating budget is aided by planned gifs, which on average result in 10% of our parish budget revenue. While we cannot plan or rely on this income, we are blessed by parishioners who have thought about OLS when planning their estates. Your support of our parish through a legacy gift will ensure that Our Lady of Sorrows continues to fulfill its obligations as a community of faith, worship, and service.

“As each one has received a gift, use it to serve one another as good stewards of God’s varied grace.” (1 Peter 4:10).

What are the tax benefits of planned gifts?

  • Donors can contribute appreciated property, like securities or real estate or stocks, receive a charitable deduction for the full market value of the asset, and pay no capital gains tax on the transfer.
  • Donors who establish a life-income gift receive a tax deduction for the full, fair market value of the assets contributed. If they fund their gift with appreciated property they pay no upfront capital gains tax on the transfer.
  • Gifts payable to charity upon the donor’s death, like a bequest or a beneficiary designation in a life insurance policy or retirement account, are exempt from estate tax.

Forms of Planned Giving

Here are just a few ways to share your generosity with OLS by making a planned or legacy gift. This is not an exhaustive list and there are other methods of planned giving that are not listed here.


One of the simplest ways to make a legacy gift is to name Our Lady of Sorrows as a beneficiary in your will. If your will is already prepared, your advisor can add an amendment (codicil).

Charitable Gift Annuities

Charitable gift annuities and trusts provide a tax deduction, additional retirement income and the ability to make a substantial legacy gift.

Property and Securities

Real estate and marketable securities such as stocks and bonds can also be gifted to OLS, providing you the possibility of substantial tax savings. 



Tax deferred retirement plans, such as IRAs are subject to income and estate taxes, which reduces the amount your heirs will receive significantly. To maximize use of these funds and reduce your heir’s tax burden, you can gift a portion of your IRA in two ways: through your estate plan, or after age 72 by making a charitable IRA rollover from your annual disbursement.


Life Insurance

You can receive a charitable tax deduction by naming OLS as an irrevocable beneficiary of your life insurance policy.


“And do not forget to do good and to share with others, for with such sacrifices God is pleased.” (Hebrews 13:16)

Please let us know if you have already included Our Lady of Sorrows as a beneficiary of your estate. We would like to thank you and recognize you for your gift.

The information provided here is for estate planning purposes and is not meant to be legal or tax advice. You should always consult your accountant, financial planner or estate attorney before making any decisions about planned giving.