Bequest and Beneficiary Designations
“For everything is from you, and we only give you what we have received from you.” 1 Chronicles 29:14-16
Identifying the parish, school, ministry or diocese:
Whether naming your parish, a school, ministry or the diocese to receive a bequest (e.g. will) or to be a beneficiary (e.g. life insurance), you can ensure that your intentions are understood by providing as much identifying information as possible. Ideally, state the Legal Name, (Tax ID # ), Address, City, State.
To name the Diocese: Catholic Diocese of Kansas City – St. Joseph (Tax ID # 44-0546494), 20 West Ninth Street, Kansas City, Missouri 64105
To name a parish, school or ministry: Contact the parish, school or ministry for their legal name, Tax ID # and the address. The legal name should be stated as “Catholic Church” not “Parish.”
You can search the Missouri Secretary of State’s website to find the legal name, but not the Tax ID or address. Remember to search for “Catholic Church” not “Parish.”
Every parish in the Diocese of Kansas City-St. Joseph is registered as a nonprofit corporation in the State of Missouri. If a school or ministry is not separately incorporated, you can instruct the parish or diocese to use the funds for the support of a specific program, school or ministry.
Please consult an attorney or other professional to ensure accurate wording in your will or trust.
A general bequest will be worded similarly to “I give, devise and bequeath to the “Catholic Diocese of Kansas City-St. Joseph (ID # 44-0546494),” , (dollar amount, percent, residue, securities or property as described) for its general use and purposes as directed by its Ordinary.”
A designated bequest will be worded similarly to “I give, devise and bequeath to the “Catholic Diocese of Kansas City-St. Joseph,” 20 West Ninth Street, Kansas City, Missouri 64105, (dollar amount, percent, residue, securities or property as described) for the specific purposes of (parish or institution and complete address and specific purpose, if any).”
You can designate beneficiaries to receive your financial assets (e.g. life insurance, retirement plan assets, etc.). Most banks, insurance companies, or other financial institutions (including managers of IRA accounts) can send you a “beneficiary designation form” upon request.
The property passes to the beneficiary you designate “outside the will or trust” and takes priority over the will or trust.
You can review and flexibly adjust your designations at any time your wishes change. None of this requires the assistance of legal counsel, though you should consult your financial advisors to ensure it coordinates with your will or trust and will help you meet your goals.