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Saint Michael and All Angels
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Addressing Taxing Problems

by Lowell Duncan, Director of Legacy Planning

Do you have money saved in an employee retirement plan, IRA, or tax-sheltered annuity? If you do, you know that these plans contain income that is subject to taxes? When a distribution is made from your retirement plan account, you or your beneficiaries will owe federal income tax unless you plan wisely.

Consider leaving your loved ones and the Saint Michael and All Angels Foundation your less heavily taxed retirement plan assets. The Foundation is tax-exempt and will receive the full amount of what you designate from your plan.

There are several ways to take advantage of these tax-saving opportunities:

NAME THE SMAA FOUNDATION A BENEFICIARY OF YOUR RETIREMENT PLAN

All you need to do is contact your plan administrator and update your beneficiary designation form. You can designate the Foundation as the primary beneficiary for a percentage of the plan or for a specific amount. You can also make the Foundation the contingent beneficiary so that it receives the plan balance only if your primary beneficiary does not survive you.

IRA CHARITABLE ROLLOVER

If you are 70 . years old or older, you can support the legacy of Saint Michael and All Angels and receive tax benefits in return. You can give up to $100,000 from your IRA directly to the Foundation without having to pay income taxes on the money.

FUND A CHARITABLE REMAINDER TRUST

When you fund a charitable remainder trust with your retirement plan assets, the trust receives the proceeds of your plan upon your death, not the government. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets would come to the Foundation. This provides excellent tax and income benefits for you while supporting your family and ultimately the mission and ministries of Saint Michael and All Angels.

A DONOR ADVISED FUND

When retirement plan assets pass to your heirs, distributions are taxed as ordinary income, reducing the amount available to them. However, you can designate your Donor Advised Fund as the beneficiary of all or a portion of your retirement plan assets, which receives the full amount of your gift and bypasses any federal taxes.

Whatever your plan, there are many options available to you. Consult with your financial advisor or attorney on what is best for you and your family. And, remember to include the Saint Michael and All Angels Foundation in your estate plan, perpetuating the legacy of love, compassion, and service for which Saint Michael is known.

To discuss including Saint Michael in your will or other planned giving options contact Lowell Duncan, Director of Legacy Planning: [email protected]


Tags: Blog & Newsroom

The Archangel May-June 2019

May/June 2019 AA cover

In This Issue

Addressing Taxing Problems

Director of Legacy Planning Lowell Duncan offers some tips to plan wisely with your financial assets to incur less federal taxes.

Read More »

A Message From The Rector - "God Help Us"

The studies show rising numbers of atheists, agnostics, and "nones," and Rector Chris Girata says that everyone, including atheists and agnostics, should be very concerned. Here's why.

Read More »

From The Loft

In his bi-monthly column, Music Director and Organist Jonathan Ryan shares updates on all things traditional music at Saint Michael

Read More »

Call for Vestry and Delegate Nominations

Nominating Chair and vestry member Christine Paddock defines a few key terms and outlines the nomination process as Saint Michael gears up for a new election cycle.

Read More »

Community Service & Youth: The Big Benefits for Kids Who Volunteer

Youth Task Force member Christi Houser explains why it's important to get your kids involved with volunteer work while they're still young.

Read More »

Easter Sermon from The Most Rev. Michael B. Curry

A transcript of The Most Rev. Michael B. Curry's Easter Day sermon.

Read More »

The Healing Nature of Music

Choir member Eleanor Wroath shares a story of finding comfort and healing in music after a personal tragedy.

Read More »

Read the full issue

Saint Michael and All Angels Episcopal Church
8011 Douglas Ave
Dallas, TX 75225
(214) 363-5471

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Sunday Services:

9 a.m. Traditional Service (Rite II)
9 a.m. Joy: A Children’s Service
11 a.m. Contemporary Rite II Service in the Parish Hall
8 p.m. Compline in the Church

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Under normal circumstances, Saint Michael offers more services every day of the week. Learn more about our full worship schedule here.

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Saint Michael Episcopal School
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Saint Michael's Farmers Market
Jubilee Park Community Center
The Saint Michael Foundation

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Saint Michael and All Angels is a member parish in the Episcopal Diocese of Dallas. We practice The Way of Love as members of The Episcopal Church.

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Service Times

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Sunday Services:
9 a.m. Traditional Service (Rite II)
11 a.m. Contemporary Rite II Service
8 p.m. Compline

More about services at Saint Michael and All Angels here.

Location

Saint Michael and All Angels
8011 Douglas Ave
Dallas, TX 75225

Contact Us
(214) 363-5471

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Welcome Children Service Times Getting Here & Campus Map Membership

Welcome! | Saint Michael and All Angels is a community of passionate people seeking to follow Jesus in a meaningful way that impacts both our own lives and that of the community around us. We are blessed with our parish home and so glad to share it with you. If you find yourself in Dallas, we would love to have you join us for worship!

- The Reverend Dr. Chris Girata, Rector

Welcome to Children and Family Ministry!

Our team in Children and Family Ministry provides children, ages 0 – 5th grade, and their parents with the tools they need to become faithful disciples of Christ. We achieve this through fun and interactive programming that allows children and families to explore their faith together.

Learn More
Sunday Services:
7:30 a.m. Traditional Service (Rite I) in Saint Michael Chapel
9 a.m. Traditional Service (Rite II) in the Church
9 a.m. Joy: A Children’s Service in Saint Michael Chapel
11 a.m. Traditional Service (Rite I) in the Church
11 a.m. Contemporary Rite II Service in the Parish Hall
5:30 p.m. Evening Prayer and Eucharist Rite I in Saint Michael Chapel
8 p.m. Compline in the Church
Saturday Services:
8:30 a.m. Eucharist in Bishop Moore Chapel
5:30 p.m. Candlelight Mass in Saint Michael Chapel
Weekday Services:
7 a.m. M/W/F: Morning Prayer in Bishop Moore Chapel
7 a.m. T/Th: Holy Eucharist (Rite I or II) in Bishop Moore Chapel
10 a.m. Wed.: Healing Service in Bishop Moore Chapel
Click here for service descriptions and more info

We are located just south of Northwest Highway off of Douglas Ave. at Colgate Ave. Via Northbound Tollroad: Exit Lovers Ln, continue straight on Lomo Alto a few blocks to Colgate. Church is on your right. Via Southbound Tollroad: Exit Northwest Hwy, turn left to Douglas Ave. Turn R on Douglas and church is a few blocks down on your right. Via US 75: Exit Northwest Hwy and go west to Douglas Ave. Turn R on Douglas and church is a few blocks down on your right.

Maps & Directions

If you are new to Saint Michael, curious about the path to membership, or simply want to learn more about life at our parish community, we invite you to join us for two different class events we have throughout the year: "Saint Michael 101" is an introduction to life here at SMAA, and "Episcopal Christians", where we explore what it means to walk as a Christian in the Episcopal tradition, discussing topics like our Anglican heritage, worship, the Bible and formation etc.

Saint Michael 101 Episcopal Christians
Give Now Flower Memorials The Foundation Legacy Planning Stewardship 2021

Thank you for supporting the mission and ministry of Saint Michael and All Angels!

Select from the buttons below to make your gift.

Give Now Recurring Giving Make Your Pledge

Flowers in our holy worship spaces are a beautiful gift to God and those who attend services at Saint Michael as well as those being honored or remembered. A contribution to the Flower Fund is a meaningful way to honor or remember a loved one for special life events such as birthdays, anniversaries, baptisms, confirmations, thanksgivings, or in memory of a loved one.

Flower Memorials

The Foundation of Saint Michael and All Angels is essential to the vitality, growth, stability and success of our parish. Its grants support the mission of the Parish, consistent with priorities established by the Vestry and the Rector.

Learn More

As God’s stewards, we build on the foundation left by those who came before us. We, in turn, have the opportunity, with a bequest to Saint Michael, to sustain and enhance our parish ministries and programs for the benefit of future generations.

Learn More

Building the Kingdom

Saint Michael and All Angels Annual Giving

Join us as we commit ourselves to the 2021 Stewardship Campaign.

Building the Kingdom