Making a Bequest

List of 6 items.

• Charitable Lead Trust

  A charitable lead trust is a trust, typically with $1,000,000 in funded assets or more, that pays a certain amount of income to New Hampton School for the life of the trust, and then pays the balance to those family members or other persons of you choose. This methodology offers a regular income stream to New Hampton School and may offer significant tax benefits to the ultimate beneficiaries you name.  

• Charitable Remainder Trust

  A charitable remainder trust, also typically with $1,000,000 in funded assets or more, that pays an annual income stream to beneficiaries named by you for the life of the trust, and then pays the remainder to New Hampton School. Again, there may be significant tax benefits to you or your estate in setting up this type of trust. 

• Gift from Donor Advised Fund

  If you have a donor advised fund, you can make a gift directly from the fund at any time to New Hampton School. You may also choose to name New Hampton School as the beneficiary or a beneficiary of the fund at such time as the balance of the fund is distributed. 

• Naming New Hampton as a Life Insurance Beneficiary

  If your life insurance policy is paid in full, and your family no longer needs the proceeds of the policy or all of the proceeds, you can name New Hampton School as the beneficiary or partial beneficiary of the policy. You may also choose to transfer ownership of the policy to New Hampton School. Using the proceeds of a life insurance policy may enable you to make a much bigger donation than you thought possible. This type of gift may also offer your survivors significant tax savings.   

• Simple Bequest

  A bequest is the act of giving assets to an organization such as New Hampton School through the provisions of your will or estate plan. The bequest can be for a specific amount or for a percentage of the estate. You can make multiple bequests in your will or estate plan. 

• Utilizing Your Retirement Plan

  You can utilize your 401k or IRA plan in two different ways to benefit New Hampton School and save you and your family significant taxes. If you are at least 70 1/2, and you determine that you do not need your mandatory annual distribution, you can gift your distribution to New Hampton School and avoid taxes. You can also name New Hampton School as a beneficiary of the plan, which allows you or your estate to avoid taxes at the time the balance is distributed.