Gifts through Wills and Trusts

Gifts Through Wills and Trusts

A gift through a will or trust, known as a bequest, provides for the future work of CRS as a testament to your faith. In most cases, you are free to remove or change this bequest during your life. Your entire bequest to CRS is free of income, capital gains and estate taxes.

Please view the following PDF for details.

What is the difference between a will and a trust?

A last will and testament allows you to outline your intentions for the distribution of your assets. Wills go through the court process of estate probate according to the regulations of the state in which you reside and become public record.

Trusts also allow you to outline the distribution of assets. Trusts are not required to go through the court probate process in most states, and they may include various tax advantages or allow beneficiaries to access your gift sooner. There are different types of trusts varying in complexity depending on the assets and desires of the donor. Please see more details on charitable trusts here.

How do I include CRS in my will or trust?

You can designate CRS to receive a specific amount or a percentage of the value of the estate or trust. Here is some sample wording:

“I give to Catholic Relief Services- United States Conference of Catholic Bishops, located in Baltimore, Maryland, with federal tax identification number of 13-5563422, the amount of $_____ to be used for its general purposes.”

“I give to Catholic Relief Services- United States Conference of Catholic Bishops, located in Baltimore, Maryland, with federal tax identification number of 13-5563422, _____ % of the residuary to be used for its general purposes.”

What if I already have a will?

It is possible to update your existing will with a codicil or addendum. If you are making numerous changes, it may be best to draft a new will upon consultation with your attorney.

We recommend consulting an attorney for your state’s legal requirements for drafting wills and trusts. You can also check our Professional Advisor Network page for a list of professionals with experience in charitable giving.