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A Legacy of Giving: Long-Term Support for ECFA


The Roman adage, "Blessed is he who plants trees under whose shade he will never sit," encapsulates the enduring impact of long-term giving. At ECFA, we invite you to join us in creating a legacy by supporting our mission to serve families and children in need.


Gifts from a Will or Trust
A will or trust is a powerful tool for ensuring your charitable intentions are fulfilled. By including ECFA in your estate plan, you can help provide vital resources and support that will continue to improve the quality of life for individuals and families, as well as protecting and nurturing abused and neglected children. 


Key considerations when creating a will or trust:

  • Assets: Determine which assets you wish to include.

  • Beneficiaries: Decide who will inherit your property and consider designating a portion to ECFA.

  • Executor and Guardian: Choose individuals to manage your estate and care for your children (if applicable).

  • Legal Counsel: Although you can create a will using online resources, it is recommended that you consult with an attorney to ensure your estate plan accurately reflects your wishes and addresses any complex issues.


Living Trusts: A living trust can offer advantages over a traditional will, such as avoiding probate and providing greater control over your assets.


Giving Options:

  • Percentage or Tithe: Allocate a specific percentage of your estate to ECFA.

  • Child Named Charity: Designate a portion of your estate to ECFA in addition to your children.


Beneficiary Designations
Life insurance and retirement plan proceeds can be directed to ECFA through beneficiary designations. As life events occur and dependents reach adulthood, changes should be made.  This is often a simpler process than updating your will or trust.


Misconceptions:

  • Only individuals can be beneficiaries – False. 

    • Fact - Charities can also be named as beneficiaries.

  • Changing beneficiaries is complicated – False

    • Fact - The process is generally straightforward and can often be done online.

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Non-Cash Assets
Donating appreciated assets, such as stocks, bonds, real estate, or tangible property, can offer significant tax benefits.  The potential impact of a gift can be increased by donating non-cash assets that have appreciated in value which can result in savings on capital gains taxes.


Giving from an IRA
Qualified Charitable Distributions (QCDs) allow those who are 70.5 years or older to transfer funds directly from your IRA to ECFA without incurring income tax, however, these cannot be claimed as deductions.


Key considerations for QCDs:

  • Annual limit: The maximum amount you can donate in a year varies ($105,000 in 2024).

  • RMDs: QCDs can count towards your Required Minimum Distributions (for those 73+).

  • Eligible IRAs: Only traditional or Roth IRAs qualify.

  • Direct donations: Funds must be transferred directly from the IRA custodian to ECFA.


For more information or to discuss your giving options, please contact Dan Vallaro at (630) 653-6400.


If you are interested in speaking with a Christian attorney for assistance, ECFA will provide you with names.  ECFA has no commercial relationship with these attorneys. 

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