Planned Gifts

List of 6 items.

• Bequest

  You may include a provision in your will directing that a cash, property, or estate gift be paid to Jackson Prep after your death, or the death of one of your heirs. Here are some options:

  1. You may give Jackson Prep either a specific dollar amount or item of property—a "specific" bequest—or you may choose to give a percentage of your estate balance after taxes, expenses, and specific bequests have been paid—a "residual" bequest.
  2. You may direct Jackson Prep to use your bequest for a particular program or activity at our school—a "restricted" bequest—or allow us to use your bequest at our discretion—an "unrestricted" bequest.
  3. You may direct that a bequest be paid to Jackson Prep if one of your heirs does not survive you—a "contingent" bequest.

• Charitable Lead Trust

  A charitable lead trust is an individually managed trust that holds gift assets, makes payments to Jackson Prep for a specified period of time, and then returns the balance to you—a grantor trust— or your heirs—a non-grantor trust.
  
  A grantor lead trust can be an attractive strategy you would like to maximize your current tax deduction but don't wish to part permanently with a valuable asset. A non-grantor lead trust is particularly effective if you wish to reduce the tax cost of passing assets within a family.

• Life Estate Agreement

  A retained life estate allows you to make a significant gift to Jackson Prep using what may be your most valuable asset, yet does not disturb your current living arrangements or cash.

• Life Insurance

  An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. A gift of life insurance may directly fund a gift, permitting you to make a substantial gift to Jackson Prep (face value of policy) for a relatively modest annual outlay (the premium payment). You may contribute either a new policy or allocate a portion of an existing policy, naming Jackson Prep as a primary or contingent beneficiary.

• Living or Testamentary Trust

  A living trust, which you create, or a testamentary trust, created by your Last Will and Testament, will provide income to you (living) and assets to your heirs (testamentary) for life, with the remainder designated for Jackson Prep.

• Qualified Retirement Plan

  Retirement plan assets are the optimal assets to direct to a non-profit like Jackson Prep. These assets can be used to support you and your spouse, before some or all is designated by percentage to the school.
  
  You may name Jackson Prep as the primary or contingent beneficiary of all or a portion of your IRA, 401(k), or other retirement accounts. This is revocable and does not create a charitable income tax deduction, but distributions from retirement accounts to surviving family members can be subject to both income and estate tax. Directing the balance of a retirement plan removes the most‐taxed asset from your estate.