An excellent way for you to support Church of the Good Shepherd, Good Shepherd Catholic School and its ministries is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.
Types of Bequests
There are a number of ways you can make a bequest to Church of the Good Shepherd:
Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Church of the Good Shepherd.
Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Church of the Good Shepherd.
Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Church of the Good Shepherd.
Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Church of the Good Shepherd.
Bequest Benefits
A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
Bequest Language
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Church of the Good Shepherd in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest
If you are considering making an outright bequest to Archdiocese of Los Angeles or to a specific parish, ministry or school, the following language must be used:
Bequest of a Specific Dollar Amount
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of Church of the Good Shepherd. Federal Tax ID #95-1647817.
Bequest of Specific Personal Property
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of: (Your parish, school or mission). Federal Tax ID #95-1647817.
Bequest of Specific Real Estate
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of Church of the Good Shepherd. Federal Tax ID #95-1647817.
2. Percentage Bequest
If you are considering making a bequest of a percentage of your estate to Archdiocese of Los Angeles or to a specific parish, ministry or school, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of Church of the Good Shepherd. Federal Tax ID #95-1647817.
3. Residual Bequest
I hereby give, devise and bequeath to The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of Church of the Good Shepherd. Federal Tax ID #95-1647817. ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Church of the Good Shepherd general use and purpose.
4. Contingent Bequest
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to The Roman Catholic Archbishop of Los Angeles, A Corporation Sole, for the benefit of Church of the Good Shepherd. Federal Tax ID #95-1647817.
Restricted Bequests
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Church of the Good Shepherd flexibility should it no longer be possible for the Church of the Good Shepherd to use your gift as you originally intended:
If, in the judgment of the of the Church of the Good Shepherd, it shall become impossible for Church of the Good Shepherd to use this bequest to accomplish the specific purposes of this bequest, Church of the Good Shepherd may use the income and principal of this gift for such purpose or purposes as the Church of the Good Shepherd determines is most closely related to the restricted purpose of my bequest.
Contact
For further information please contact Karen Dunphy with the Los Angeles Archdiocese at (213)637-7510 or kdunphy@LA-Archdiocese.org or visit: adlalegacy.org