There are a variety of ways to make a planned gift to Saint Elizabeth High School that does not deplete lifetime assets and, in some cases, furnishes additional income and significant tax deductions. The following options are those you may wish to consider when making a gift to the Saint Elizabeth High School Legacy Society.
A gift provided in your will may be a percentage of your estate, the residual of the estate, a certain item, or a specific dollar amount. Estate taxes may be reduced by a bequest to Saint Elizabeth High School.
You may establish a remainder trust that provides both a fixed or variable income for you and your family. Part of the trust qualifies for an income tax deduction and upon the death of the last beneficiary; the assets of the trust are distributed to Saint Elizabeth High School.
This trust allows you to pass on assets to family members with significant estate and gift tax savings while allowing Saint Elizabeth High School to benefit from the income for the duration of the trust.
A gift of real estate provides considerable tax benefits. You also have the option of retaining the right to occupy the property for life or even to receive the income it generates.
A gift of life insurance allows you to contribute to a previously acquired policy that may no longer be needed for its initial purpose and realize tax benefits. Saint Elizabeth High School may also be named beneficiary of a life insurance policy, company pension or profit-sharing plan, or of a private fund such as an IRA, Keogh, or tax-sheltered annuity.