Planned Giving

PLANNED GIVING SOCIETY

Invest in a “Rare and Special” Place.

STEWARDSHIP & ESTATE PLANNING

Estate planning may be the most important act of stewardship any of us will ever undertake. It is, at its core, the process of determining to whom we should transfer the stewardship of all that has been entrusted to us when we are called to step into eternity.

Boyd-Buchanan School has partnered with PhilanthroCorp, a trusted estate planning firm, to help you put together an estate plan that accomplishes your goals. Since 1997, PhilanthroCorp has served hundreds of the most respected faith-based organizations and thousands of their supporters. There is no cost to you for their assistance. In addition to the self-help tools provided on these pages, they can help you in several ways:

Personalized Assistance

The PhilanthroCorp team will guide you gently through a discovery process that will consider your assets, the people and the ministries that are dependent upon you.

They will help you:

Understand such issues as probate and taxes
Address tools such as wills, trusts, powers of attorney and advance medical directives
Develop an estate plan that reflects your values and priorities
Implement the plan through an attorney you already know or one from their network of attorneys, offering preferential rates.

Once your documents are in place, they will further help you to make sure instructions are in place to make everything easier for loved ones.

Phone Seminars

To quickly learn and gain important insights, attend a phone seminar. Here you can listen in from the privacy of your own home as a PhilanthroCorp Estate Specialist guides the group through these important concepts. The seminars are interactive so, if you want, you may ask questions, or remain anonymous. Afterwards, you can even stay on the line and request a private conversation for personalized assistance.

Estate Plan Organizer

If you prefer to start this on your own, PhilanthroCorp provides an online tool to help you develop an estate plan. Upon completion, you can submit your plan to PhilanthroCorp for review, and they can connect you with an attorney to implement your plan.

If you have questions or would like to talk with an Estate Specialist at PhilanthroCorp or call 800-876-7958.

THE DAVID L. AND FLORA SUE BOYD PLANNED GIVING SOCIETY

The David L. and Flora Sue Boyd Planned Giving Society recognizes donors who have a planned gift for Boyd Buchanan School. Each person who notifies us of plans to remember the school in financial and/or estate plans is invited to become a member. As a member, you are recognized for investing in this “…rare and special place…” that helps shape the lives of the students as they prepare for college and life as well as their eternal life.

Types of planned gifts include your will, gift of retirement funds or savings bonds, insurance policies, charitable remainder trusts, charitable lead trusts, and retained life estates. If you have established a planned gift of which we are not aware, or need additional information about making a planned gift, please contact us:

Dr. Renee Murley

rmurley@bbschool.org

423.622.6177

*Boyd-Buchanan School is not engaged in rendering legal or tax advice. The purpose of this publication is to provide information of a general character only. For legal advice, please consult an attorney. Income tax references refer to federal taxes only, and individual state taxes may further impact your specific situation.

BEQUESTS IN YOUR WILL

Bequests are one of the simplest ways to make a future donation to Boyd-Buchanan School. You may designate a specific gift of money or other assets in your will, or you may direct a certain percentage of your estate to pass to the school. You may also decide to designate Boyd-Buchanan School to receive the residue of your estate.

Your gift may be given without restrictions to allow us to apply the funds to our most pressing needs, or you may specify how the funds will be used. You may also choose to make your gift in memory of someone that you have loved or admired. You may contact us before you execute your will if you would like to discuss the details related to a specific gift.

RETIREMENT ACCOUNT GIFTS

You may consider a donation of a tax-deferred retirement account or a portion of a tax-deferred retirement account, such as an Individual Retirement Account (“IRA”), 401(k), TIAA-CREF, or pension account. This type of donation will provide a tax benefit for you while giving Boyd-Buchanan School a significant gift without a financial burden during your lifetime.

You may either designate a specific amount of your retirement account funds to be paid to the school before the division of the remainder among family beneficiaries, or you may name Boyd-Buchanan School beneficiary of part, or all, of the balance remaining after your spouse’s or another beneficiary’s lifetime.

It is easy to implement this change. Advise your plan administrator of your decision and sign the required forms. You may even be able to make these changes on your plan’s website. If you personally administer a plan, notify the custodian in writing, and keep a copy with your valuable papers.

LIFE INSURANCE GIFTS

You may give a new or existing life insurance policy to Boyd-Buchanan School to provide a significant gift at a low cost to you. By naming Boyd-Buchanan School as the owner and the beneficiary of the life insurance policy, you are eligible for tax benefits. You may also give a paid-up policy to Boyd-Buchanan School and receive an income tax deduction for its value (approximately the cash value of the policy). Through the use of the life insurance policy, you may give more to the school than you might otherwise be able to afford. You may also use a life insurance policy to replace your wealth when you have made a significant gift to Boyd-Buchanan School.

Name Boyd-Buchanan School as the owner and the beneficiary of the policy

If you continue to pay the annual premiums, the amount of the premiums will be tax deductible each year.

Give Boyd-Buchanan School a paid-up policy

When Boyd-Buchanan School becomes the owner of the policy, you can receive an income tax charitable deduction.

Name Boyd-Buchanan School as the beneficiary or partial beneficiary of the policy

You may designate Boyd-Buchanan School as the beneficiary or partial beneficiary of a policy, including policies through your employment by completing the appropriate forms with your insurance company or employee benefits coordinator.

Replace assets given to Boyd-Buchanan School using a policy

You may make a significant gift to Boyd-Buchanan School and use the tax savings to purchase a life insurance policy to replace the contributed funds for the future of your family. This is often called a wealth replacement trust.

GIFT OF SAVING BONDS

If you own savings bonds, particularly ones that have matured, you may consider a planned gift through the use of these bonds. You may contribute cash proceeds from matured bonds and reduce your income taxes if you itemize your deductions, or create a life income gift with the bond proceeds. You may also consider a gift with your savings bonds by bequest in your will that will provide an income tax savings for your estate and create an estate tax charitable deduction, while providing a significant gift to Boyd-Buchanan School. The school will be able to use the entire amount of the savings bond for our programs, free from taxes. For more information about gifts of savings bonds, you may review information at www.savingsbond.gov.

CHARITABLE REMAINDER TRUSTS

Charitable Remainder Trusts (“CRTs”) are another option for gift planning that allows you to make a gift to Boyd-Buchanan School by transferring assets to the trust while providing you and/or your dependents with an income benefit for life. When the trust terminates, the school will receive the remainder trust assets. You also will receive an income tax deduction for your gift to the trust, as well as avoid capital gains taxes on appreciated assets. CRTs may be created during your lifetime or through your will, and they allow you to give Boyd Buchanan School a gift you might not be able to provide through other means.

UNITRUSTS

You may decide to fund a charitable remainder unitrust with your assets, appreciated property or stocks generate the greatest net savings for you. The unitrust allows you to receive a life income as a set percentage of the current value of the unitrust, redetermined annually. You choose the percentage when the trust is created based on certain criteria (at least 5% of the net fair market value of the trust assets as valued annually). After your lifetime, and if you wish, that of a second life, Boyd-Buchanan School receives the principal of your trust.

ANNUITY TRUSTS

You may choose to create an annuity trust to provide a gift to Boyd-Buchanan School and provide a secure investment for your assets. An annuity trust will pay you a fixed dollar amount every year for the rest of your life, with no investment worries or responsibilities. After your lifetime, and if you choose, the lifetime of another beneficiary, the remainder of the trust assets are available for the school to use. You decide the amount to be paid to you from the trust each year, and it will remain the same regardless of changes in interest rates and the stock market fluctuations (at least 5% of the fair market value of assets initially contributed to the trust).

CHARITABLE LEAD TRUSTS

Charitable Lead Trusts (“CLTs”) allow you to give the income from assets placed in a trust to Boyd-Buchanan school for a period of years. When the trust terminates, the assets are returned to you or your family. Many donors like this arrangement because it keeps assets in the family, but allows them the opportunity to help the school with immediate funding needs. Your gift will qualify for a federal tax deduction, and any asset growth that occurs while the assets are held in the trust will be passed to the trust beneficiaries (your family) free from estate or gift taxes. This type of trust may also be created during your lifetime or through your will.

· *Boyd-Buchanan School is not engaged in rendering legal or tax advice. The purpose of this publication is to provide information of a general character only. For legal advice, please consult an attorney. Income tax references refer to federal taxes only, and individual state taxes may further impact your specific situation.

RETAINED LIFE ESTATE

If you own property, you may consider a gift through a retained life estate. This type of gift may be attractive to you if you have no one to whom you wish to leave your home at death. You may leave the property to Boyd-Buchanan School, receive a significant income tax deduction, retain the use of the property for your lifetime, and then name the school the ultimate owner of the property.

You may consider the contribution of any real estate, whether a personal residence, a vacation home, a farm, commercial real estate or vacant land, as a gift to Boyd-Buchanan School.

In This Section