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713-869-3783
The benefits of life insurance left to an individual can be subject to estate taxes, but when you change the beneficiary to a charitable entity such as ours, the benefits are tax-free.
Naming us the beneficiary of your life insurance policy provides you the satisfaction of making a very generous donation and leveraging the full value of your policy. Alternatively, when a life insurance beneficiary is not a qualified charity, the amount your loved ones receive in the end could potentially be less due to estate taxes. But when you name St. Theresa Catholic Church and School as beneficiary, we receive the full amount and estate taxes are eliminated. (With this arrangement, you will not receive a charitable income tax benefit during your lifetime because you are not giving away the policy ownership. Your estate, however, will receive an estate tax charitable deduction.)
If you need help with any technical questions regarding a planned gift, contact Johanna Bransford at 713-869-3783 or info@sttheresa.cc. To make a planned gift, please contact Cynthia Garza at 713-869-3783 or info@sttheresa.cc to schedule a phone call or appointment with Fr. Phil.