If the policy is not fully paid, the donor may choose to continue to pay the premium. In this case, the donor could receive a tax deduction for the annual premium amounts. A donor may make a provision in his or her will for the Cathedral of Saint Paul. Such gifts are very significant to the long-term future of the Cathedral and are encouraged in conjunction with a current gift. Residual bequest of all or a portion of an estate after payment of specific amounts to other beneficiaries.
Contingent bequest to take effect if other beneficiaries die before the donor.
A bequest can often be arranged simply with the addition of a codicil amending to an existing will. The Cathedral of Saint Paul would be pleased to work with a donor to ensure that such bequests can receive Campaign credit. Such counsel can help the donor make the largest possible gift for the Cathedral at the least possible net expense to himself or herself. Personal financial circumstances vary considerably and must be considered in order to receive maximum benefit from tax laws. The Cathedral of Saint Paul will acknowledge and receipt all gifts.