Leaving a Legacy Through Gift Planning
The Strawberry Hill Society
We encourage you to consider supporting Nashoba Brooks in your will with a bequest or other type of testamentary gift. Popular ways to continue your legacy, bequests are fully deductible for federal estate tax purposes. A bequest to Nashoba Brooks can be incorporated when your will is drafted, or added later in a codicil. By remembering Nashoba Brooks in your will, your bequest can take a variety of forms, including:
Fixed Amount or Percentage of Estate — With these gifts, Nashoba Brooks receives a predetermined amount or percentage of your estate.
Personal and Real Property — Leave Nashoba Brooks a specific asset, for example: a parcel of land, your home or a summer residence, a work of art, jewelry, a retirement account or securities.
Residual Bequest — With a residual bequest, Nashoba Brooks receives a specific percentage share or the remainder of your estate after heirs are provided for and all expenses and debts are paid.
Other Types of Planned Gifts
IPOs, Options and Restricted Stock — New giving opportunities may be created by the sale of a company, a merger or acquisition, an initial public offering or compensation benefits. Transferring these assets may allow you to achieve your financial goals while also supporting Nashoba Brooks.
Gifts of Tangible Personal Property — Nashoba Brooks accepts gifts such as art, jewelry or antiques that can be sold by the school. You may claim an income tax deduction for the fair market value of the gift if you owned it for more than 12 months; the IRS does require gifts valued at $5,000 or more to be professionally appraised.
Gifts of Real Estate — Homes, undeveloped lots, commercial property or other real estate are ideal charitable gifts because they generally appreciate at a higher rate than inflation. They may be donated outright, converted to a new source of income through a deferred gift agreement or transferred directly to the school with arrangements for life tenancy. Real estate gifts may allow you to benefit from income tax savings, capital gains tax savings or estate and gift tax savings, while also possibly increasing your annual income.
Gifts of a Personal Residence or Farm with Life Tenancy — You can transfer the ownership of a residence or farm to Nashoba Brooks while retaining use of the property throughout your lifetime. You remain responsible for all maintenance and upkeep costs, including insurance and taxes. Life tenancy gifts provide an income tax deduction that is less than the full-appraised value of the property, and are based on donors’ life expectancy, estimated useful life of the property, and separate values of the land and buildings.
Gifts-In-Kind — Nashoba Brooks accepts gifts-in-kind if they can serve a useful purpose to the school. Gifts-in-kind that we have accepted include computer equipment, furniture, and books.
Gifts of Life Insurance — You can generate federal estate tax benefits and support Nashoba Brooks by naming the school as the beneficiary (or co-beneficiary) on an existing life insurance policy. You can claim an income tax deduction for the cash surrender value if you make Nashoba Brooks the sole owner of the policy. There are also significant benefits to purchasing a new policy through relatively modest annual gifts and naming Nashoba Brooks the beneficiary and owner. This will allow you to turn a small annual gift into a large one as well as claim the annual premium amount as a charitable tax deduction.