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 the Congregation of the Holy Rosary of Pompeii."
- 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 the Congregation of the Holy Rosary of Pompeii."
- 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 the Congregation of the Holy Rosary of Pompeii."
- A percentage of the estate or trust gives a stated percentage of the estate’s or trust’s assets.
- A contingent bequest requires a specific event to occur before the gift can happen. For example, you could bequeath funds to a family member provided that person survives you; if the family member does not survive you, the funds would then go to Holy Rosary. 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 the Congregation of the Holy Rosary of Pompeii."
Decide how you would like the Church to use your gift.
- An unrestricted bequest allows us to use the assets most beneficially as determined by the pastor or parish administrator.
- A restricted bequest allows you to designate your gift to a specific project, ministry, or building that is close to your heart. Discussing your charitable intentions with the pastor or parish administrator will help ensure that your gift is directed in the manner you intend.
- 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.
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.
Sample Gift Language For Your Will
Let us know of your plans.
If you have included Holy Rosary in your will or estate plan, please let us know so we can thank you for your generosity.
The material presented on this website is not offered as legal or tax advice.
