FREQUENTLY ASKED QUESTIONS
SHOULD I HAVE A WILL OR TRUST?
Yes. The Episcopal Church teaches that it is the duty of every person, while they are in good health, to make legally binding decisions regarding the disposal of their earthly goods, and, to the extent that they are able, to provide bequests for religious and charitable purposes. (The Book of Common Prayer p. 445.) With a few exceptions such as a life insurance policy or retirement plan where you have named a beneficiary or jointly-owned real property, without a properly executed will or trust, California law – rather than you – determines who receives your property upon your death. This is known as dying “intestate” and because California law and not you determines the distribution of your property, this may not be what you would have desired had you executed a will or trust.
I HAVE A WILL OR TRUST THAT I EXECUTED IN ANOTHER STATE, DO I NEED TO EXECUTE A NEW ONE IN CALIFORNIA?
If you are and intend to remain a California resident, it is recommended that your estate plan conform to the requirements of California law and therefore it likely will be appropriate for you to execute a new will or trust. A licensed California attorney can provide you with specific advice on this.
WHAT IS THE DIFFERENCE BETWEEN A WILL AND A TRUST?
A will is administered by a person usually designated by you and appointed by the Probate Court known as an “executor” (sometimes called a “personal representative”) who distributes your property after your death under the supervision of the Probate Court. Probating a will is a public exercise and subject to court fees. In contrast, a trust is administered by a person that you appoint known as a “trustee.” Because trusts generally are not subject to Probate Court supervision, a trustee may carry out your wishes more quickly after your death, and privately, than can an executor of a will, and without the payment of court fees. The reality is that the Probate Court moves slowly, and it is not uncommon for the administration of an estate under Probate Court jurisdiction to take many months and sometimes years.
IF I HAVE A TRUST, DO I ALSO NEED A WILL?
Most persons who establish trusts also have “pour over” wills so that any property held outside of their trust “pours over” into the trust upon their death and therefore may be distributed by their trustee in accordance with the terms of their trust.
MAY AN AGENT OR EMPLOYEE OF ST. PAUL’S BE NAMED AS MY EXECUTOR OR TRUSTEE?
No. Parish policy prohibits the Co-Rectors, Wardens, Members of the Vestry and employees of the Parish from acting as an executor, trustee, guardian, conservator, or custodian of an estate, trust, fund or similar of which the Parish is a named beneficiary. (This prohibition does not apply to the spouse of a Legacy Society member regarding that member’s estate.)
WHAT IS THE LEGACY SOCIETY?
The Legacy Society consists of persons who have pledged to make a charitable gift to St. Paul’s upon their death. These gifts may take a variety of forms, such as:
- A monetary bequest from your will or trust in a specific dollar amount
- A percentage of your estate’s value
- The remainder, or portion of the remainder, of your estate after all bequests are paid
- Real estate or property
- Specific items of personal property
- As a beneficiary of a retirement plan (401(k), 403(b), IRA, ROTH, etc.)
- A life insurance policy if the Parish is named both the owner and beneficiary of 100% of the policy
- As a beneficiary of a savings or investment account
- A Charitable Gift Annuity (CGA)
ARE ALL GIFTS ACCEPTED BY ST. PAUL’S?
All unrestricted monetary gifts are accepted. It therefore is recommended that Legacy Society members make their gifts this way. For gifts subject to restrictions, such restrictions must be evaluated as to whether they are consistent with the mission and the ministry of the Parish, and they may or may not be accepted. Restricted gifts therefore are not recommended. Except for publicly traded securities, non-monetary gifts such as real or personal property must also be evaluated. This is because, for example, in the case of a gift of real estate, the Parish is not in the position of being a property manager. The preferred approach would be for you to direct your executor or trustee to liquidate the asset that you wish to give and to provide the proceeds to St. Paul’s as an unrestricted monetary gift to the Endowment Fund.
WILL MY GIFT TO ST. PAUL’S BE TAXED?
No. The Parish pays no taxes upon gifts made to it for charitable purposes, such as to the Endowment Fund. In addition, California eliminated estate taxes in 2005. However, if the fair market value of your estate exceeds $13.61 million after certain reductions and deductions (such as gifts to qualified charities), then your estate may be subject to federal estate tax. This threshold is scheduled to change in 2027 – applying to estates above $7 million – unless Congress takes further action. You should consult with your tax advisor if you believe that your estate may be subject to federal estate tax.
HOW IS A GIFT MADE TO THE ENDOWMENT FUND?
You should confirm with your attorney as to the specific language that is appropriate to your estate plan, but the recommended designation is to: “The Endowment Fund of The Church of St. Paul in the Desert, 125 W. El Alameda, Palm Springs, CA 92262, Tax ID 95-2120185.”.
WHAT IF I HAVE ALREADY MADE PROVISION FOR A GIFT TO ST. PAUL’S IN MY ESTATE PLAN BUT HAVE NOT SPECIFICALLY DESIGNATED IT TO THE ENDOWMENT FUND?
As a Legacy Society member, the primary purpose of your gift is to fund the growth of the Endowment Fund. It therefore is recommended that the next time that you review your estate plan, or as soon as may be convenient, that you amend your estate plan (will, trust or otherwise) to specifically state that your gift is being made to the Endowment Fund.
WHAT IF I WISH TO MAKE A GIFT IN ADDITION TO MY BEQUEST TO THE ENDOWMENT FUND?
You may certainly make a gift in addition to your bequest to the Endowment Fund. Again, please consult with your attorney as to the specific language that is appropriate to your estate plan, but the recommended designation is to:
“The Church of St. Paul in the Desert, 125 W. El Alameda, Palm Springs, CA 92262, Tax ID 95-2120185, for charitable purposes as the Vestry may direct.”
How to Get Started
Please submit your Planned Gift Interest Form. Once the form has been received, our Parish Administrator will reach out to schedule an in‑person meeting.
