Planned Giving

List of 3 items.

• About Bequests—An Impactful Gift With Zero Cost Today

  Including National Cathedral School as a beneficiary of your will can lead to a significant gift with little or no cost during your lifetime and can reduce the rate at which your estate is taxed. You can tailor your bequest as you like using a specific dollar amount, a percentage, a residual remainder after all other estate distributions are met, or a contingent bequest that requires certain conditions to be met for the gift to take effect.
  
  Below are some examples of ways to phrase a bequest to NCS when working with your attorney.
  
  Specific Sum:
  I give, devise, and bequeath to National Cathedral School, 3612 Woodley Road NW, Washington, DC 20016, tax ID #: 53-0196604, the sum of $___ (or describe the specific property you intend to bequeath)."
  
  A Percentage:
  "I give, devise and bequeath to National Cathedral School, 3612 Woodley Road NW, Washington, DC 20016, tax ID #: 53-0196604, ___% of my estate, both real and personal property of whatever kind and wheresoever situated."
  
  A Residual Remainder:
  "I give, devise and bequeath to National Cathedral School, 3612 Woodley Road NW, Washington, DC 20016, tax ID #: 53-0196604, all (or __%) of the rest, residue and remainder of my estate, both real and personal property of whatever and wheresoever situated."
  
  Contingent Bequest:
  "If any of the above named beneficiaries should predecease me, I hereby bequeath his/her share of my estate to National Cathedral School, 3612 Woodley Road NW, Washington, DC 20016, tax ID #: 53-0196604.
  
  It is important to consult with your own advisors when making a planned gift. NCS can help you think about your options, but we cannot provide tax or financial advice.
  

• About Beneficiaries, Retirement, and IRA Plans—The Easiest Type of Gift

  Retirement plans offer a simple tax-efficient way to invest in the school's future. You can designate NCS as a primary or contingent beneficiary of all or part of individual retirement accounts (IRAs) and/or 401(k), profit-sharing, Keogh, and 403(b) plans. Retirement plan assets are a tax-wise gift because in larger estates left to a loved one, these assets could be taxed through both estate and income tax.
  
  Life Insurance Beneficiaries
  Do you have a life insurance policy that no longer serves its original purpose? Consider gifting it to NCS. If ownership of the policy (as an individual or couple) is transferred to NCS, then you may be eligible for an immediate income tax deduction, and the value left to NCS will not be includable in your estate. If you'd rather retain ownership, consider making NCS a whole or partial beneficiary of your existing policy.
  
  If NCS is designated as a beneficiary of a new life insurance policy, you may be eligible for an income tax deduction of premiums. Further, the school will consider accepting partially paid policies or term policies. When the policy matures, NCS will credit the surrender value or insurance proceeds as an outright gift.
  
  It is important to consult with your own advisors when making a planned gift. NCS can help you think about your options, but we cannot provide tax or financial advice.

• About Charitable Income Gifts—Maintain a Stable Income and Support NCS

  There are several ways you can support NCS while managing income now or over an extended period. The Episcopal Church Foundation in New York City is available as a resource and prospective administrator for donors with interest in life income gifts. Donors are encouraged to provide National Cathedral School with of a copy of the trust life income agreement before execution. Read about a few types of income gifts below.
  
  Charitable Gift Annuities
  A charitable gift annuity provides fixed annual payments to you or loved ones in exchange for your gift. Charitable gift annuities can provide supplemental income during retirement and provide an immediate tax deduction when the gift is established. When the annuity ceases, the remainder value goes to NCS.
  
  Charitable gift annuity payments can be established immediately, or they can be deferred for several years to meet your particular needs such as increased payouts during later years when you may be in a lower income tax bracket and your need for income may increase.
  
  Charitable Remainder Trusts
  A charitable remainder annuity trust is a managed charitable trust that pays you or loved ones an annual income that is either fixed or based on a fixed percentage of the initial value of the trust's assets. It can also pay additional loved ones. The duration of the trust is for life, twenty years, or a combination, depending on the terms. The remainder value is provided to NCS after these terms are satisfied or after the lifetime of the income beneficiary.
  
  After the lifetime of the beneficiary[es] or the terms expiration, the remainder value is directed to NCS.
  
  Unitrust
  A charitable remainder unitrust provides income that is based on a fixed percentage of the trust's assets as they are annually valued. You can receive an income tax deduction based on the value of the trust when it is established and pay no capital gain on the assets that are used to create the trust agreement.
  
  Charitable Lead Trusts
  A charitable lead trust operates in the reverse order of a charitable remainder trust. You can contribute annual income directly to NCS from a lead trust and become eligible for an income tax-deduction when the trust is established. When the trust agreement ends, the trust's principal reverts to you or to other designated beneficiaries, including grandchildren.
  
  It is important to consult with your own advisors when making a planned gift. NCS can help you think about your options, but we cannot provide tax or financial advice.