Leaving Your Legacy
WHAT WILL YOUR LEGACY BE?
Please consider including the Freeport High School Scholarship Foundation (FHSSF) in your estate plan and allow your contribution to have an impact on Freeport High School for decades and generations from now.
Here are some ways to give:
Giving to the Freeport High School Scholarship Foundation (FHSSF) via your will or trust is straightforward. Simply specify a set dollar amount, a certain percentage of your overall estate, or list specific assets that you would like to bequest to the foundation. If you already have a will or revocable trust, your attorney can draft a codicil to your will or an amendment to your trust agreement to add FHSSF as a beneficiary.
Charitable Remainder Trust
Trusts accomplish important goals: protecting your family, expressing your charitable intentions, and maximizing tax savings. Your estate attorney can craft an arrangement through your trust to benefit FHSSF, while at the same time providing current income and tax savings to you or your family.
Retirement Plan Designation
Designating a retirement asset to go to FHSSF may be beneficial to your estate and easy to do. When you make a charitable nonprofit organization a direct beneficiary for all or a portion of your IRA or pension, there often is no income tax on the designated amount.
Insurance Policy Designation
Life insurance policies are contracts that name one or more beneficiaries who will receive the policy’s value upon the death of the policy holder. If you designate FHSSF as a beneficiary, the foundation will receive the payout upon your death, and your estate will receive a charitable deduction.
If you are interested in receiving a tax deduction now, you can name FHSSF as both the owner and the beneficiary of your policy. As you continue to pay future premiums, you may deduct those payments as charitable contributions as well.
Gifts of Tangible Property
Personal property or assets may also be donated to FHSSF. Real estate, securities, and private collections are examples of these types of gifts.
Please contact John Paterson to pursue this option.
FHSSF is an approved 501c3 organization.
All donations are tax deductible.