Scroll down to see the sample forms which are suggestions from the Episcopal Church Foundation.
Wills and Bequests
Legacy Stewardship is a faith response to God's generosity. When we make a legacy gift to our church, it is an expression of our devotion and our faith, not unlike an inheritance we provide for our own family. A will is an essential part of our Christian stewardship. Planning for the end of life and the final disposition of our possessions and affairs, including making allowances in our will for the church, is an important part of being a faithful steward of all that God has entrusted to our care.
Part of this planning for our end of life is a carefully drafted last will and testament that will do the following:
•Provide for our loved ones by planning for the distribution of assets.
•Allow us to select executors or personal representatives.
•Indicate our choice of a guardian for a minor child or a disabled, adult loved -one.
•Make bequests to support our church and charities through gifts of a stated amount or a percentage of our estate.
•Assist in estate tax planning.
Wills are very important for us all to have! So, it is unfortunate to learn that so many people don’t have one. People avoid writing a will for various reasons: Some believe that their estates are too small. Others mistakenly believe that because they hold their property jointly, they a have no need for a will. Still others just want to avoid thinking about death!
In reality, though, each of us actually does have a will! Our state has written a will for each of us. When someone dies intestate, without a will, his/her property passes according to the state’s law of distribution, irrespective of the person’s wishes or the needs members of his or her family.
When a person dies intestate, without a will, the following actions are taken.
•The Probate Court chooses an administrator for the estate.
•The Probate Court chooses a guardian for minor children or a handicapped, adult loved one.
•The property in the estate is distributed according to the law, which provides generally, for distribution only among a surviving spouse and family, to the closest degree of kinship.
•The estate could be burdened by excessive probate costs and federal estate taxes.
It is important to keep our wills current. Changes in tax laws, as well as life changes, such as marriage, divorce, birth of a child, an out-of-state move, or the death or disability of a loved one, make it wise to review estate plans and wills. Wills can be easily updated by codicil, which is an addition or amendment to the will.
The preparation of a will is not a “do-it-yourself” or “off the Internet” project. The planning, drafting and execution of a will or codicil should be done only with competent legal counsel. (9-15-08)
*Specific Amount:
I, ________, hereby give, devise, and bequeath to the Rector, Wardens and Vestry (or Director, President, Board of Trustees) of Your Episcopal Church (or Your Episcopal Non-Profit Organization), 123 Main Street, Anywhere, MA, 00000, the sum of $XXXX to be used at their discretion to assist in the ministries of the Church (or Organization).
*Percentage Amount:
I, _________, hereby give, devise, and bequeath to the Rector, Wardens, and Vestry (or Director, President, Board of Trustees) of Your Episcopal Church, (or Your Episcopal Non-Profit Organization) 123 Main Street, Anywhere, MA, 00000, XX% of the rest, residue, and remainder of my estate, to be used at their discretion to assist in the ministries of the Church ( or Organization).
*Contingency Bequest:
In the event the beneficiaries of bequests, and devises herein predecease me, or, in the case of institutions, cease to be organizations described in section 501(c)(3) of the Internal Revenue code, I, ___________, hereby give, devise, and bequeath to the Rector, Wardens, and Vestry (or Director, President, Board of Trustees) of your Episcopal Church, (or Your Episcopal Non-Profit Organization) 123 Main Street, Anywhere, MA 00000, rest, residue and remainder of my estate, to be used at their discretion to assist in the ministries of the Church (or Organization).
Alternate Language Used by Some Churches where appropriate:
Instead of “ to be used at their discretion to assist in the ministries of the Church” some churches and organizations will give a choice to their donors:
Select one:
( ) to be used by the Vestry of the Church in accordance with the Undesignated Gift Policy.
( ) for the permanent endowment fund of the Church
( ) for the following designated purpose(s):________________________________
Source: The Episcopal Church Foundation