Bequests The most commonly used planned giving vehicle is a testamentary bequest - a gift by will. Persons who wish to support The Barnesville School, but who are not in a position to part with assets during their lifetimes, can accomplish their philanthropic intentions through a bequest. The bequests are paid directly to the school when the donor’s estate is settled. A bequest through your will may be made by adding a codicil to your existing will, by creating a new will, or by including The Barnesville School in your irrevocable trust.
Remainder Trusts An alternative to the traditional will is the Remainder Trust. It enables you to contribute assets to The Barnesville School while providing an income for yourself and/or other beneficiaries you name for life or a term of years. They may be funded with cash or other property but when funded with appreciated assets, such as low yielding, highly appreciated common stock, the stock can be sold without capital gains tax and the proceeds reinvested for increased income. The combination of significant tax savings and increased income often provides donors with sufficient funds to purchase life insurance (with their children as beneficiaries) to replace a sizable portion of the original asset in their estates.
Lead Trusts The Charitable Lead Trust allows your gift to The Barnesville School to be placed in trust for a specified number of years. During this time, Barnesville would receive a specified amount of annual income from the trust; at the end of the term of the trust, the property would revert to the donor or to family members.
Life Insurance In the event that you reach a point when life insurance no longer has the financial significance for your family that it once did, you may want to consider making a gift of your policy. The Barnesville School would be named as the owner and beneficiary of the life insurance policy, and the charitable deduction would be equal to the case surrender value of the policy.
Real Estate A gift of real estate may be an attractive way to make a substantial commitment to The Barnesville School and realize tax benefits at the same time. Your residence, vacation home, farm, acreage, or vacant lot may have appreciated in value through the years so that its sale would mean a sizable capital gains tax. By making a gift of this property instead, you would avoid or significantly reduce the amount of income, capital gains, and estate taxes you otherwise would have to pay. At the same time, you would receive a charitable deduction for the full fair market value of the property.