Living virtuously includes responsibly stewarding all that has been given to us by God. Most of us have strong opinions about how our assets should be distributed when we pass on. You may want to take care of relatives and friends and you may wish to support the work of Saint Lawrence Seminary. Creating an estate plan is a grateful response to the gifts God has given you during your life. Without responsible planning, decisions will be made for you that may not represent your values and gratitude for those gifts.

If you die without a valid will, state law will determine how your assets are distributed, usually to your closest relatives – even if that’s not what you intended. In addition, state law makes no provision for charitable organizations that share your faith, like Saint Lawrence Seminary. 

With or without a will, your estate will be subject to probate, a court supervised process during which your assets are identified, debts and taxes paid, and whatever remains distributed – according to your will if you have one but otherwise as required by state law.

You can distribute certain assets without having to go through the probate process by using what is often referred to as a beneficiary designation or payable on death assignment. Through these designations, you can use your assets to gratefully express all the good He has done for you. But, if you don’t leave beneficiary designation instructions, then these assets will become part of the probate process.

A living trust is a special estate planning tool that can streamline the distribution of your estate. Assets that you place in a living trust during your lifetime can pass directly to those you choose and do not need to go through the probate process.

The process of estate planning should be both careful and prayerful, a time for you to look back with gratitude on what God has given you. Without a plan in place, there will be no way for you to support causes that reflect the values of your faith. We would be honored if you decided to include a gift in your estate plan to Saint Lawrence Seminary; truly, a gift of any size matters.