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A Son's Love Inspires a Gift

By: Carol Harris

This memorial trust was created to honor the memory of my precious son, Christopher M. Harris, son of the late Billy M. Harris and Carol Harris. He was born on Feb. 28, 1988, a beautiful Sunday afternoon. In an instant, he was tragically taken away in an automobile accident on April 1, 2005.

As a parent, I experienced the worst hurt any parent should ever have to experience. Like so many others, my life and those of his family and friends were forever changed that day. He is always on my mind, and forever in my heart. I will love him and miss him until my own last breath. 

Chris was unforgettable to all who knew him, and a blessing to his father and me. He was a celebration of life and happiness, love and laughter all rolled into one. From the moment he was born, he seemed to be in perpetual movement, and had a spirit that was full of life. It was as if he knew in his heart that his time on earth would be limited, and he was determined not to waste one second of it. He may have only been here for 17 short years, but I can honestly say that he totally enjoyed and lived every minute of that life.

Our family, along with the Knights of Columbus from St. Peter, have established a trust in memory of Chris. This trust will provide scholarships to full-time college students from St. Peter. 

Chris would be honored to know that a scholarship fund was created to honor his memory and to ensure that he will not be forgotten, and his memory and legacy will continue for generations to come. Chris never got to realize his dream, but hopefully in some small way this scholarship will enable him to live on thru each and every one of you.

Contact Rebecca Harris at 601-960-8477 or rebecca.harris@jacksondiocese.org to learn more about how you can honor a loved one alongside The Catholic Foundation.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to The Catholic Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I will, give, and bequeath unto The Catholic Foundation Diocese of Jackson in Jackson, Mississippi, (a Mississippi Non-Profit Corporation) with principal offices located at 237 East Amite Street, Jackson, Mississippi, 39201-2168, [1] a specific dollar amount ($________);[2] or a percentage of your entire estate (_______%);[3] or a percentage of your liquid estate only (_____% of the liquid assets of my estate)." to be held in trust by said Catholic Foundation to benefit .

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The Catholic Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The Catholic Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The Catholic Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The Catholic Foundation where you agree to make a gift to The Catholic Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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