Bequest Information


Bequests commonly take one of the following forms:
  • A general cash bequest gives a fixed sum of money. This gives your executor the flexibility to pay the bequest from any available source.  Example: "I leave $_____ to St Joseph Roman Catholic Church.” 

  • A specific bequest gives a particular piece of property. However, use caution, because if you dispose of the property before your death, the Church will not receive your intended gift. Example: "I leave all of my securities to St Joseph Roman Catholic Church.”

  • A residual bequest gives the "rest, residue and remainder" of your estate, whether all or just a percentage, of the residue after all other debts, taxes and expenses are paid. Example: "I give all the rest, residue and remainder of my real and personal estate to St Joseph Roman Catholic Church.”

  • A percentage of the estate or trust gives a stated percentage of the estates or trust’s assets.

  • A contingent bequest requires a certain event to occur before the gift can happen. For example, you could bequeath funds to a family member if person survives you; if the family member does not survive you, the funds will then go to  St Joseph Roman Catholic Church.” Example: "I give the entirety of my estate to my husband if he survives me; if not, then the entirety of my estate shall pass to St Joseph Roman Catholic Church.”

 

1. Decide how you would like the Church to use your gift. 

  • An unrestricted bequest allows us to use the assets in the most beneficial manner as determined by the Pastor.

  • A restricted bequest allows you to designate your gift to the Catholic Stewardship Appeal, St Joseph Roman Catholic Church or a specific ministry that is close to your heart. Discussing your charitable intentions with us will help ensure that your gift is directed in the manner you intend to fund a specific ministry or ministries.

  • An endowed bequest allows you to designate that your gift shall become part of an existing endowment from which a distribution is made each year. Because the principal remains intact, the fund will support the Church’s mission in perpetuity.  Contact us in advance to be certain your intent can be fulfilled. 

2. Meet with your estate planning attorney.

Whether you need to create a will or trust for the first time or revise your existing documents to reflect your current situation and preferences, you'll want to seek the help of an estate planning attorney.

3.  Let us know of your plans.

If you have included St Joseph Roman Catholic Church in your will or estate plan, please let us know so we can thank you for your generosity.  We also want to include you in our legacy society membership roster.

Click here for sample gift language for your will. (see below)

How to Word a Bequest to St Joseph Roman Catholic Church 

 

There are three ways to word a Bequest

1.  Specific:

This is the most common type of bequest. Typically, it is a specific dollar amount or some other specific asset like appreciated stock.

   Sample wording for a specific bequest:

"With gratitude for all that God has given me, I give, devise, and bequeath to St Joseph Roman Catholic Church in Astoria, New York the sum of $____________ (or description of specific property)."

2. Residuary:

This type of bequest gives all or a specific percentage of assets remaining in the estate after debts, taxes, expenses, and other bequests have been paid.

   Sample wording for a residuary bequest:

"With gratitude for all that God has given me, I give, devise, and bequeath to St Joseph Roman Catholic Church in Astoria, New York, 10% of the remainder of my estate after all debts, taxes, expenses and family bequests have been paid."

3. Contingent:

This bequest takes effect if those you have remembered in your Will are no longer living when you pass away.

   Sample wording for a contingent bequest:

"If upon the death of the survivor of my spouse and I, or at any time thereafter, but prior to complete distribution of my estate, there is no living descendant of mine, any property of my estate not vested or effectively appointed shall be distributed to:  St Joseph Roman Catholic Church.”

 

We invite you to contact us for assistance or more information.

Contact:  Bookkeeping at (718) 278-1611 


DISCLAIMER

The planned giving material presented on this website is not offered as legal or tax advice.

St Joseph Roman Catholic Church, its employees, or representatives, do not offer legal or financial advice. We strongly urge prospective donors to consult with their estate planning attorney, financial advisor, accountant, or other appropriate professional before making any material decisions based on information we provide through this Web site, printed materials, or other sources.

The purpose of this website is to provide general gift, estate, and financial planning information.  Watch for tax law revisions.  State laws govern wills, trusts, and charitable gifts made in a contractual agreement.  Advice from legal counsel should be sought when considering these types of gifts.