Planned Giving
Planned giving helps friends of St. Anne's-Belfield School to give in the way that makes the most sense for them.
| Often, this means balancing the desire to give with the many competing calls on one's resources. | Or, it can mean giving that strengthens one's family life, over the long term. |
Either way, harmonizing the desire to give with one's other priorities enhances both the ability to give, and the satisfaction giving brings.
What all planned gifts have in common is that they fulfill both the desire to give, and other personal needs as well. See how planned giving can help you give, while meeting your own needs as well.
The 1910 Society
Bob and Marilyn Harman invite you to join a group of friends of the school who have found ways to provide for the school's future as well as their own, through planned giving.
Does planned giving make sense for you?
Some planned gifts are testamentary, like a bequest in one's will, in that they only take effect at death. Others are made during life, and very often confer benefits on the donor. Life income gifts, for example, return an income from the gift, either to the donor, or someone named by the donor. Sometimes planned gifts involve earmarking a particular asset that especially lends itself to charitable giving, often for tax reasons (such as a retirement account). Here are several ways planned giving helps us meet the needs of life and support St. Anne's-Belfield School at the same time. The stories below may help you decide what giving option is right for you.
- Mr. and Mrs. X, both 67 years old, include a bequest in their will for St. Anne's-Belfield School. This way they know that their resources remain available throughout their retirement, and that the school will benefit once the needs of life are over. Will this gift entitle the X's to a tax deduction when the will is written? Hide
No, the X's will get no deduction when they write their will because they retain full control over their assets. In fact, the beauty of a bequest is that one can make firm plans to give from your resources once the need for them has past, knowing all the while that everything you have is still there, should need arise.
- Does one have to decide the exact amount of the bequest in order to write a bequest into one's will? Hide
No, one may define the bequest as a certain share of one's assets (usually a percentage), or as simply whatever remains of the estate once expenses and other bequests are satisfied. This type of bequest is called a residuary bequest. Please consult a lawyer to get complete advice about your options in drafting your will. Your attorney is likely to need is likely to need the school's official name in order to include the school in a will.
Find out more about giving to St. Anne's-Belfield in your will.
- Mrs. B., from the Class of 1940, inherited 100 shares of stock some years ago. It has grown nicely in value, but its sale would bring capital gain tax to her. By giving the stock to the school for a charitable gift annuity, Mrs. B both increases her income and helps the school. At age 85, what income could she expect from her gift annuity? How might this income compare with the stock dividends she now receives? Hide
As an 85-year-old, she could expect a fixed rate of 8.5% of the assets transferred for the gift annuity. This annuity continues at the same fixed rate until death.
Find out more about giving to St. Anne's-Belfield through a charitable gift annuity.
- What other options might Mrs. B consider if she were an alumna from a more recent year (Class of 1965), and nearing retirement? Hide
A charitable remainder trust could provide Mrs. B with variable income designed to grow with rising investments during her retirement, and direct the trust assets to the school at Mrs. B's death, providing a substantial gift.
Find out more about giving to the school using a charitable remainder trust.
- Mrs. A (Class of 1947) has children who are also school alumni, and now grandchildren enrolled as well. She owns an IRA and has stock in a brokerage account. She would like to include the school in her estate plans without disadvantaging her grandchildren. What might she consider doing? Hide
Funds drawn from Mrs. A's retirement account are probably liable for income taxes. Add the possibility of estate taxes as well, and retirement accounts are taxed to one's heirs more heavily than any other asset, possibly losing to taxes up to 70% of their value. Since retirement accounts are less valuable to heirs than they are to the school or other non-profits organizations, it makes a lot of sense to give from them to the school, and leave assets like stock in a brokerage to family.
Find out more about giving to St. Anne's-Belfield through one's retirement account.
Any information concerning giving options or their tax benefits, on this website or otherwise, provided by St. Anne's-Belfield School is of a general educational nature only and does not constitute, or substitute for, legal advice. Please seek competent legal advice regarding how any gift to the school might affect your personal situation.
