We all want to make a difference—to lead happy and fulfilled lives surrounded by family and friends, as well as leave a lasting impact on the people and communities most dear to us. The search for significance and desire to plan for the future leads many to ponder their legacy. What kind of legacy will you leave? A bequest is perhaps the easiest and most tangible way to have a lasting impact on the people and organizations that mean the most to you. A bequest may also be an effective way to make a charitable gift and minimize the burden of taxes on your family and estate.
A charitable bequest is a bequest written in a will or trust that directs a gift to be made to Darlington School when you pass away. One benefit of a charitable bequest is that it enables you to further the impactful work of Darlington long after you are gone. Better yet, a charitable bequest can help you save estate taxes by providing your estate with a charitable deduction for the value of the gift. With careful planning, your family can also avoid paying income taxes on the assets they receive from your estate.
A bequest is one of the easiest planned gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to family, friends or charity as part of your estate plan. Bequests can be made in several ways: the gift of a percentage of your estate, the gift of a specific asset such as a life insurance policy or a gift of the residue of your estate. You also have the option of designating your gift to Darlington to an area of interest, such as financial aid, faculty support, arts or athletics, just to name a few.
To learn more about how you can leave a legacy at Darlington School by becoming a member of the J. Daniel Hanks Sr. ’27 Heritage Society, visit our new planned giving website or contact me at craymond@darlingtonschool.org. We look forward to the opportunity of discussing your legacy!
