Gifts Through Your Will or Estate Plan:

You can remember The Buckley School by leaving a gift in your will or estate plan. There are many different techniques utilized that we would be happy to review with you on how to leave a legacy gift. Please contact Lindsay Newlove at (818) 461-6747 or email lnewlove@buckleyla.org.

Planned Giving

Making a planned gift to The Buckley School can allow you to take advantage of some unique tax and financial benefits and help secure The Buckley School’s future. These gifts should be made after consultation with your tax and legal advisors, but the following is an overview of planned gifts to help you decide whether a planned gift is something you want to explore further. Of course, you may call Lindsay Newlove, Director of Advancement, (818) 461-6747, at any time if you want to discus planned giving or other ways of supporting Buckley.

Planned Gifts

• Bequest. A bequest is a provision in your will or living trust that states that The Buckley School will receive a specific dollar amount, a specific piece of property, or a particular share of your estate. The bequest allows you to retain all the income of your assets and to use principal if necessary while ultimately providing a significant legacy for The Buckley School. Please have your attorney refer to the “The Buckley School, 3900 Stansbury Avenue, Sherman Oaks, California 91423 (TIN 95-1750023)” when naming The Buckley School in your Will or trust.
   
  Sample language for a bequest: “I give, devise and bequeath $XXX to the XXX fund at The Buckley School, located in Sherman Oaks, California. If, in the opinion of the Board of Trustees, all or part of the gift cannot appropriately be used in the manner herein described, the Board may use the gift for other purposes as nearly aligned to the donor’s original intent as the Board deems appropriate under the circumstances.”
   
  
• Gift Annuity. A gift annuity is a contract to make fixed payments of a specific dollar amount for the life of one or more individuals issued by a charitable organization. The commercial value of the payments that the charity will pay to the individual is typically equal to approximately one-half the value of the cash or property that the donor gives the charity in exchange for the annuity. The excess of the donor’s payment over the value of the annuity is the gift to the charity and provides an income tax deduction. A donor can exchange appreciated property for a gift annuity and report the taxable gain from that property as the annuity payments are received. Older donors who hold bonds or certificates of deposit for income often can increase their income and reduce their taxes by making a gift with a gift annuity.

   

• Charitable Remainder Trust. A charitable remainder trust can make payments to you or other individuals for life or for a term of years up to twenty years. At the end of the trust, the assets of the trust are distributed to The Buckley School. The payment you receive can be a fixed dollar amount or fixed percentage of the value of the assets of the trust determined annually. A trust that pays a fixed dollar amount each year is called a charitable remainder annuity trust. A trust that pays a fixed percentage of the value of the assets determined annually is called a charitable remainder unitrust. Although you are taxable on the payments that you receive from the charitable remainder trust, the trust itself is tax exempt. If you have a highly appreciated asset that you wish to diversify into other investments, you may want to fund a charitable remainder trust with the appreciated asset before you sell the asset.

   

• Charitable Lead Trust. A charitable lead trust allows you to support The Buckley School and to transfer assets to your children or other relatives at reduced transfer tax costs. A charitable lead trust makes payments to support The Buckley School for a term of years and then distributes the trust assets to the beneficiaries named by the creator of the trust. A charitable lead trust can be particularly effective for making gifts to grandchildren.

   

• Remainder in Residence. It is possible to claim an income tax deduction currently for a commitment to leave The Buckley School your residence after your death. If you deed your residence to The Buckley School, you can reserve the right to live in it for the rest of your life. You will be able to claim an immediate tax deduction for the value of The Buckley School’s right to receive the house at the end of your life interest.