"The gift of a lifetime"
It's been called the "ultimate gift": A planned or deferred benefice is often the culmination of a lifetime of philanthropy. Thoughtfully considered estate planning can put significant giving within reach of individuals who might not think it otherwise possible. In almost no other way can we express so powerfully the ideals and passions that bind us to truly special causes. Members of the Patricia Blake Sayles and Thomas D. Sayles, Jr. Planned Giving Society remind us that Stoneleigh-Burnham School is one of those special causes.
In the future, planned gifts will become one of the most significant means by which Stoneleigh-Burnham will receive the financial support necessary to provide services to girls who join our community of learners. The thoughtful planning of generous and sometimes anonymous individuals makes our work possible.
Members of the Patricia Blake Sayles and Thomas D. Sayles, Jr. Planned Giving Society create a permanent legacy for generations to follow.
What Your Planned Gift Can Do
Planned gifts to the endowment support key SBS initiatives by:
- Endowing tuition for students of modest means.
- Retaining talented faculty by naming a department chair.
- Maintaining the integrity of our buildings and their aesthetic significance.
How to Plan Your Gift
Although charitable giving is motivated by more than advantageous tax-planning, your planned gift can offer special benefits to you in your lifetime and the flexibility to create a far more significant legacy than you may have thought possible.
The federal estate tax can erode approximately 50% of one's estate; that's far more significant than the income tax. It pays to plan for the future with your attorney or other professional advisors. A charitable bequest to the Stoneleigh-Burnham School will save you estate tax dollars and have an enduring impact on SBS for generations.
Life income gifts
A life income gift allows you to transfer cash, stock or other property now while continuing to receive income from the asset. A life income gift can allow you to:
(1) increase your income for life;
(2) receive a generous charitable contribution deduction; and
(3) avoid any capital gains tax on the appreciation, if you contribute appreciated property.
A life income gift is often made through a trust arrangement called a unitrust or an annuity trust.
With a unitrust, you and/or your spouse (or other beneficiary) receive a fixed percentage of the fair market value of the assets in the trust annually. The income received will vary from year to year, based upon how the trust's investments perform.
With an annuity trust, you and/or your spouse (or other beneficiary) receive a fixed amount from the trust each year. This amount is agreed upon when you create the trust; it stays constant, no matter what happens with the stock market or interest rates.
If you have already considered a provision for SBS, please note that a life income gift can often be preferable. Such a gift allows you to accomplish your goals during your lifetime.
Gifts of stock
Gifts of long-term appreciated stock offer two-fold tax savings. First, you avoid paying any capital gains on the increase in value of your stock. In addition, you receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes the value of such gifts may be deducted up to 30% of adjusted gross income, with an additional five-year carry forward.
Gifts of real estate
If you have owned your own home, a vacation home, acreage or a farm for many years, a charitable gift of that real estate can be especially tax-advantageous.
The property may have so appreciated in value over the years that its sale would result in a sizeable capital gains tax. If given to the Stoneleigh-Burnham School instead, you avoid the tax and, at the same time, realize a charitable deduction for the full fair market value of the property.
You may also wish to consider a gift of your personal residence or farm, reserving the right to continue to live in the house or farm the property for life (and, if applicable, the lifetime of your spouse). Through such an arrangement, you will be entitled to a current income tax deduction for a portion of the fair market value of the property.
Gifts of life insurance
If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a charitable gift to the Stoneleigh-Burnham School.
To receive a charitable deduction, name SBS as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift. In addition, if annual premiums are still to be made and you continue to pay them, those premiums will be tax-deductible each year. To make this contribution, check with your life insurance agent for the right forms to complete.
Patricia Blake Sayles and Thomas D. Sayles, Jr. Giving Society Members
Including your name as a member of our planned giving society is our way of honoring the essential role that you play in Stoneleigh-Burnham's future.
Stoneleigh-Burnham School continuously gains momentum because many alumnae, parents, and friends of the school participate in one or many of the ways that keep our institution strong. The power of participation is the key. Every gift, no matter the size, no matter the fund, makes a statement about the past, present, and future of this community.
For more information, please contact the Development Office at (413) 774-2711 x262.