Planned Giving: Estate Planning & Legacies - Foxcroft School-太阳城电子app

Your Legacy is Our Future

Whatever your reason for remembering Foxcroft in your estate plans, planned gifts provide you with an opportunity to design a Foxcroft legacy that is meaningful to you.

Planned gifts provide donors with an opportunity to realize numerous benefits – including valuable tax benefits, augmented income, a diversified investment portfolio, and even the possibility of making a larger gift than would otherwise be possible – and to create a lasting legacy at Foxcroft.

smiling-graduate-looking-over-her-shoulder

Whether it was your own walk — or your daughter's walk — through Miss Charlotte's Garden, marking the culmination of your Foxcroft experience, we hope as you look back that you reflect upon how Foxcroft prepared you for the world -- unique learning experiences, strong values, human connections, and lifelong friendships.

This is why many have chosen to remember Foxcroft in their estate plans. Doing so honors the past as much as it assures the future. We encourage you to consider making a planned gift to Foxcroft and becoming a member of “Forever Foxcroft” so that it will continue to do for generations of young women what it has done so well for more than a century.

Forever Foxcroft

Forever Foxcroft is the giving society established in 1999 by the Board of Trustees to recognize individuals who have included Foxcroft School in their estate plans, balancing their financial goals and charitable interests.

Their legacy gifts ensure that Foxcroft continues to attract and retain inspiring teachers, that financial aid will be available, and that the campus will be maintained and upgraded as needed. Forever Foxcroft embraces all alumnae, parents, and friends who have informed the School of its place in their financial or estate plans. For questions about a legacy gift, or to let us know that Foxcroft is included in your plans, please contact the Office of Institutional Advancement at 540.687.4510 or advancement@philboardport.com.

Forever Foxcroft Members

Planned Giving Brochure

I know now that I have a responsibility to all girls, and I can't imagine them not having the same opportunity I had ... it's why I have included Foxcroft in my will.

— Dede Pickering, Class of 1971

Bequest

A Gift that Costs Nothing in Your Lifetime

Remembering Foxcroft in your will ensures that your support will be permanent and that your own needs will come first.

Learn More about Bequests

Learn More about Bequests

Remembering Foxcroft in your will ensures that your support will be permanent and that your own needs will come first.

A bequest may suit your needs, if you:

want to give while first providing for your family;
desire to keep your options open should circumstances change;
seek to lessen any possible estate tax; or
have a will or revokable trust, or are ready to create one.

With your attorney's help, you can easily add Foxcroft to a new will, or include the School in an existing will through a codicil.

Insurance Gifts

A Gift Now or Later

Life insurance is a simple and practical way to give to Foxcroft, whether you give an existing policy or take out a new one with Foxcroft in mind.

Learn More about Insurance Gifts

Learn More about Insurance Gifts

Life insurance is a simple and practical way to give to Foxcroft, whether you give an existing policy or take out a new one with Foxcroft in mind.

"Old Insurance"

Many people own policies purchased years ago to protect young children who are long since grown. Such policies often have sufficient cash value to remain in force even though they have outlived their original purpose. If Foxcroft is made a beneficiary, then it will one day receive the policy's benefit, assuming any required premiums are paid. Or, as owner of the policy, Foxcroft can redeem it at once for an amount close to its cash value, often a substantial gift.

"New" Insurance

The right type of policy (one that will remain affordable throughout a lifetime) can be an effective way to build a legacy for Foxcroft. Moreover, the premiums paid for the policy can sometimes count as a charitable deduction. To explore this way of giving, contact an insurance agent well-versed in using insurance as a charitable gift.

Charitable Lead Trust

A Legacy Shared & Redoubled

Charitable Lead Trusts lower your estate taxes rather than pay you income. Your lead trust benefits Foxcroft while increasing your family's inheritance by reducing estate taxes.

Learn More about Charitable Lead Trusts

Learn More about Charitable Lead Trusts

Charitable Lead Trusts lower your estate taxes rather than pay you income. Your lead trust benefits Foxcroft while increasing your family's inheritance by reducing estate taxes.

To create a lead trust, you place income-producing property in a trust that uses the property's income to make several years of payments to a charity like Foxcroft.

These charitable payments entitle you to a substantial estate tax deduction, thus reducing taxes on the property that is transferred to your family's beneficiaries at the end of the trust term. Your chosen beneficiaries inherit the property is not needed by you or your family. Unlike CRTs, lead trusts are subject to capital gains tax on the sale of assets. Charitable lead trusts are complicated legal entities that require careful consultation with expert counsel. Nonetheless, with good legal counsel, a lead trust can sometimes be central to your legacy plans for your family and Foxcroft.

Retirement Gift Account

A Surprisingly Easy Way to Make a Big Impact

Retirement Accounts -- 401(k) and 403(b) plans, IRAs, Keoghs, and others -- will be the major source of income for many people after retirement. Contributions to these plans are often tax free and usually grow tax free.

Learn More about Retirement Accounts

Learn More about Retirement Accounts

Retirement Accounts -- 401(k) and 403(b) plans, IRAs, Keoghs, and others -- will be the major source of income for many people after retirement. Contributions to these plans are often tax free and usually grow tax free.

Funds withdrawn from these plans are usually liable for income tax, and accounts in large estates may owe estate taxes as well. For accounts left to anyone other than a spouse, these combined taxes can take 70% or more of the account, leaving little for heirs.

Account assets left to Foxcroft avoid both of these taxes. Because these tax savings will pay for most of the gift, it may be more advantageous to create a legacy in this way, and leave other assets to loved ones.

If you are over age 70.5, a contribution to Foxcroft from your IRA will count toward your minimum annual withdrawal. Any part of your annual IRA withdrawal that you do not need can benefit our girls if you give to Foxcroft. You will avoid federal income tax on that gift (and perhaps state income tax as well -- ask your advisor).

These IRA gifts totaling up to $100,000 per year to charitable organizations like Foxcroft School are not counted as taxable income as long as the IRA funds pass directly from your IRA to the charitable organization.

Charitable Remainder Trust

A Gift That Returns Income to You

A Charitable Remainder Trust (CRT) provides flexible income for one or more beneficiaries for a time period of your choosing. In your hands, and those of your advisor, your CRT can provide for any and all of your family while also remembering Foxcroft.

Learn More about Charitable Remainder Trusts

Learn More about Charitable Remainder Trusts

A Charitable Remainder Trust (CRT) provides flexible income for one or more beneficiaries for a time period of your choosing. In your hands, and those of your advisor, your CRT can provide for any and all of your family while also remembering Foxcroft.

A CRT receives, sells, and reinvests your cash, securities, or other property (free of any capital gains tax), and makes regular payments to you or to loved ones for a length of time set by you. In this way your CRT can return more income from your assets to you. At the end, all remaining trust assets go to your chosen charities, including Foxcroft.

CRTs pay income to you or loved ones in one of two ways:

a fixed-dollar annuity (Charitable Remainder Annuity Trusts), or;
variable income, designed to increase over time (Charitable Remainder Unitrusts)

As noted, a CRT can sell appreciated stock and reinvest sale proceeds without capital gains tax, turning this untaxed gain into added income for you, and a larger gift for Foxcroft.

It's also flexible. You can change or add charitable beneficiaries, and even (in the case of a unitrust) contribute additional assets later, increasing both your income and the ultimate gift to Foxcroft.

To consider how a CRT might play a role in your legacy, please contact your attorney who can help you design a CRT to benefit both your family and Foxcroft.

A Transformative Legacy Gift

With alumna Ruth Bedford '32's bequest in 2014, Foxcroft received a transformative gift of $40 million — the largest gift ever bestowed on a girls’ school in the United States, and the largest gift granted to any secondary school nationwide that year. Her bequest expresses her enduring affection for Foxcroft School.

Learn More about the Ruth T. Bedford Merit Scholarship for the Arts