Planned Giving Home

Frequently Asked Questions

I do not have a will. If I die without one, who will decide where my assets go?

The state where you legally reside will distribute your assets based on a legal formula. The charities that are important to you, like Catholic Extension, will not be considered. And your assets may not be distributed as you wished.

I have a will, but I've remarried and am planning to relocate to another state. Do I need to change my will?

Any time there is a change in marital status or your finances, the birth of children or grandchildren, or the death of a current beneficiary, spouse or person you've elected to handle your affairs, you should review your will and make the necessary revisions.

I would like to leave land I own as a bequest to Catholic Extension in my will. Can I do this?

Yes, you can make a bequest to Catholic Extension in the form of cash, securities or property.

What are some other options for making a bequest to Catholic Extension?

We have several options available that could meet your needs, for example: naming Catholic Extension as a contingent beneficiary to receive your assets if your primary beneficiary dies before you, establishing a Charitable Trust or a Revocable Trust, or naming Catholic Extension as a beneficiary on an IRA or insurance plan.

Is it necessary to rewrite my entire will in order to make changes or leave a bequest to Catholic Extension?

No, you do not need to rewrite your will. Any change you would like to make can be completed by your attorney with a codicil. A codicil is an addition to a will to change, revoke, or add provisions. Here is the wording for a specific bequest: "I give and bequeath to the Catholic Church Extension Society of the United States of America, an Illinois not-for-profit corporation with its principle office in Chicago, Illinois, _______% of the residue of my estate (or) the sum of $__________ for its general charitable and religious purposes.

How will my bequest help Catholic Extension?

Your gift will help Catholic Extension's mission work in America - providing stipends for our priests and religious, subsidizing seminarian education, building and repairing churches, and extending our Faith to our children through religious education programs. A bequest from you will be a gift of faith . . . and hope to Catholics living in poor and remote areas of our country.

I'm afraid I don't have much to give. Is there a set amount?

There are no small bequests in the sight of God. Bequests of all sizes are greatly needed and deeply appreciated. We are grateful!

If I make a bequest to Catholic Extension and something happens and I change my mind, can I change or revoke my bequest?

You can always amend your will with a simple codicil. However, you may want to consider making a "residual bequest" leaving Catholic Extension the remainder of your estate.

I've heard that I can write my own will without the help of a lawyer. Is this true?

Preparing your own will is not advisable. It's always the best plan to consult an attorney to advise you of the tax consequences of your estate plans, the best method to hold title to your property, and to assure that your will is written and executed in accordance with the laws of the state you live in.

What is a Charitable Trust?

This legal agreement designates a trustee to administer the transfer of cash and securities from a person(s) for their benefit prior to, and in some cases, after their death. Options such as a charitable remainder annuity trust, unitrust, lead trust and real estate with retained life interest can provide income to you and your loved ones for the rest of your life and help the American missions plan for the future.

I've heard of a "living trust." How is that different from a trust?

A living trust is created while you're alive and lets you control the distribution of your estate. You transfer ownership of your property and assets into the trust and you can be your own trustee. Properly drafted and executed, a living trust can avoid probate after your death because the trust owns your assets. It is important that you have an attorney or trust specialist draft this document.

Why is it important for me to let you know if I have left a bequest to Catholic Extension in my will, or intend on doing so?

Not only does it help us better plan for the future, but once you have notified us that you have included Catholic Extension in your estate planning, we want to thank you personally for your generosity, and enroll you in our esteemed Legacy Club. And as always, your wishes will be kept in strict confidence.

If you have any questions we have not answered, or would like more information on estate options/planning, please feel free to email or call Michael Prym at 1-800-842-7804.

NOTE: These answers are not intended as legal advice. Please consult your advisors.