- Popular plans because of the financial and estate planning flexibility. They are similar to other trusts except that the Foundation receives the remainder of the interest. You entrust property to a trustee, specifying how trust income and the remainder will be distributed. While alive you take advantage of the income, capital gains and estate savings a trust provides.
Deferred Gifts
- A specific bequest directs that the Foundation is to receive a specific piece of property or asset.
- A general bequest directs that the Foundation receive a specific dollar amount
- A residual bequest directs to give the Foundation all or a portion of whatever remains after all debts, taxes, expenses and all other bequests have been paid.
Retirement Plan Benefits
- Since retirement plans are often subject to both income and estate taxes upon the death of a participant, they present an attractive option for a charitable gift. The Education Foundation can be named as the designated beneficiary of all or part of the residual balance of qualified retirement plans, or will take the remainder when the residual balance is transferred to the trustee of a charitable remainder trust. Individuals may also take structured withdrawals from the plan to make outright or life-income gifts to the Foundation.
Your Gifts Fund the Future
There are many other types of planned giving. Planned giving may be designated to a school, teacher or special interest. Designated giving requires board approval.
Please contact Keri Davidson, Director, Education Foundation of the West Ada School District, to start the conversation on planned giving. 208-855-5081.