Planned Giving

Each of us, at the end of our lives, will leave a legacy. This legacy will include memories of how we lived our lives, family members, and the resources that are passed from one generation to the next. Some are fortunate to be able to carefully plan their legacy during their lifetime, considering among other things, how earthly treasures will be used according to their final wishes.

Because estate planning and bequests are complicated, qualified professional assistance is important. If you have not thought about your estate planning, Seminary staff members can help you contact qualified professionals, while at the same time providing you with friendship and support throughout the process.

Estate planning options are numerous. Below are a few of the more common:

Will- provides insurance that your legal estate and taxable estate are managed according to your wishes.
Joint Ownership- Allows more than one person to legally hold title to a specific asset possibly reducing estate administrative costs, but potentially upsetting the benefits of your estate plan.
Community Property- When either a wife or husband dies, half of the separate property goes to the survivor.
Life Insurance- Proceeds from life insurance can be paid in lump sum or periodic installments to a beneficiary of choice, including charitable organizations like PTS.
Qualified Retirement Plans- Pension plans, profit-sharing plans, thrift plans, deferred compensation plans, Keogh or Individual Retirement Accounts can be cost-effective charitable gifts.
Testamentary Trust- You can arrange for a trust to hold a percentage or all of the residue of your estate for PTS.
Living Trust- Usually created and funded during your lifetime to help manage your assets.
Irrevocable Lifetime Trust- A good way to transfer assets to family members during your lifetime.
Buy-sell Agreement- Provides for the proceeds from the sell of your co-owned business to be transferred to Pittsburgh Seminary.

Charitable Remainder Trust

To create a charitable remainder trust, you donate assets to the Seminary, which are in turn placed into a trust. For a time period of up to 20 years, you receive the income from the trust. At the end of the trust term, the remaining principle goes to Pittsburgh Seminary. Two basic types of charitable remainder trusts include annuity trusts and unitrusts. Benefits of a CRT include income tax charitable deduction, capital gains savings, and reduction or taxable estate. Please note that Pittsburgh Theological Seminary does not administers its own trust program. Instead, we partner with the Presbyterian Foundation and several local banks.

Charitable Gift Annuity

For the donor, this gift generates lifetime payments. A charitable gift annuity is an agreement between a donor and a charitable organization. Payments are ensured by the organization no matter how the gift annuity’s assets are invested, if at all. Please note that Pittsburgh Theological Seminary does not administers its own trust program. Instead, we partner with the Presbyterian Foundation and several local banks.

Charitable Lead Trust

The lead trust provides an income to the Seminary for a period of years and after the trust’s term is complete, the trust assets are transferred to heirs. Creating a charitable lead trust does not allow for income tax deduction. The donor will, however, receive a gift tax deduction.

Retirement Assets

IRAs, 401(K)s, and other retirement plans have grown in value over the years. In addition to estate taxes, the asset is subject to a final income tax, thus being taxed twice. Much of this tax can be eliminated if donated as a charitable gift.

Insurance Policies

Because life insurance is a contract, its terms determine where the proceeds go. Therefore, life insurance can be distributed to a charity if the organization is named as a beneficiary of the policy at the time of death.

Gift of Residence or Real Estate

A number of options are available for donating a residence or estate. You may leave your residence to your spouse, give your spouse lifetime use of the property and the remainder of interest to us, or sell the property and make a lifetime gift or place it in a living trust.

Gifts from Churches
Giving to Special Projects
Gifts of Stock
Planned Giving
Gifts in Memory of or in Honor of
Development Staff