Planned Giving

Brick building with black and gold clocktower

Did you know there are creative ways to support Tilton School? Ways in which Tilton School, you and your loved ones all benefit at the same time?

Such gifts are more commonly known as “planned gifts,” because with thoughtful planning you can create solutions that benefit both yourself and Tilton School. For example, you can: 

  • Make a gift that costs nothing during your lifetime
  • Donate stock and realize larger tax savings
  • Receive a monthly paycheck for life in return for your gift
  • Donate your house, continue to live there, and receive a tax break - all at the same time!

In 1995, Tilton School established the Tilton Society to recognize this important group of donors for leaving a special legacy to Tilton School by including Tilton in their estate plans. Whether it is naming the school in their will or designating the school as a beneficiary of a trust, annuity or life insurance policy, donors make a contribution through a planned gift and help secure the future of Tilton School.

Types of Planned Gifts

Bequests

Including Tilton School as a beneficiary in your will ensures that the school is able to provide an excellent education for students in the future.

You can choose to bequeath a monetary sum or a percentage of your estate. If you already have an up-to-date will, you may add a provision for Tilton School through a codicil that simply states your latest intentions. The instructions below outline how to name Tilton School in your will: A gift to Tilton School in your will or testamentary trust proclaims your confidence that we will continue to serve our mission and make a difference in the lives of future generations.

  • Is easy to arrange
  • Will not alter your current lifestyle in any way
  • Can be easily modified to address your changing needs

Bequests can be a specific amount, a percentage of your estate, or a percentage of the residual amount of your estate. By naming Tilton School in your will or testamentary trust, you may avoid federal estate taxes.

Suggested language:

I give [ _______%] OR [$___________] to Tilton School, a New Hampshire non-profit corporation, currently located at 30 School Street, Tilton, New Hampshire 03276, tax identification #02-0222239 (or its successor in interest), for such use and purposes as may be determined by its governing board. 

IRAs, 401Ks, and other qualified retirement plans, for example, may be subject to estate and income taxes that can total up to 80% of their value. When bequeathed to Tilton, these assets come to the school tax-free, and your taxable estate receives a charitable deduction equal to the full amount of the bequest.

Charitable Gift Annuities

A charitable gift annuity is a simple contract between you and Tilton School.

In exchange for your irrevocable gifts of cash, securities or other assets, Tilton School agrees to pay one or two annuitants of your choice a fixed sum each year for life. Advantages of this include: 

  • Guaranteed income for life
  • A tax deduction for the gift portion of the annuity in the year the gift is made
  • Often, a portion of each payment is tax free, and capital gains on appreciated assets can be spread over the projected life of the contact.

Charitable Lead Trusts

A lead trust pays income to Tilton School for a number of years, or a lifetime, then transfers the principal in the trust back to you or another individual of your choice.

Charitable Remainder Trusts

Charitable remainder trusts are individual trusts that can be funded with cash, tax-exempt assets or appreciated property.

Remainder annuity trusts distribute a fixed dollar amount of income and remainder unitrusts distribute a variable amount, either for a set term of years or for the lifetimes of the beneficiaries. Tilton school then receives the remainder of the trusts assets. Advantages include: 

  • Annual income for yourself and/or other beneficiaries
  • An immediate charitable tax deduction
  • Elimination of capital gains tax on appreciated assets
  • Estate tax savings

Retirement Funds

Qualified retirement plans are a good choice for investing in the future of Tilton School.

If left in your estate, your heirs will pay income tax on these assets in addition to estate taxes, often amounting to a total taxation of up to 75%. By bequeathing your retirement plan assets to Tilton, you will ensure that 100% of these funds will support your wishes.

Life Insurance

An outright gift of a paid-up life insurance policy makes an excellent charitable gift. You can also make Tilton School the beneficiary of an existing policy or take out a new policy with Tilton School as the owner and beneficiary.

Retained Life Estates

You may give a gift of your home, farm, or vacation home and retain the right to live there as long as you are alive. This results in a charitable deduction on your income tax.


 

Planned Gift Calculator

GiftCalcs is an online planned gift deduction calculator. It can compute deductions for all common planned gift vehicles, as well as the taxation profile of gift annuity payments.

Give it a try by clicking on "Personalize This Diagram" to the right. 

Have questions?

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