How To Leave a Legacy

There are a variety of ways to make a planned gift, all of which may establish your legacy, support the School’s current and future students, and help you realize potential financial and tax benefits.

We are happy to help you make a deferred gift to Gilman that would be meaningful to you and the school.

Please contact Director of Major Gifts and Planned Giving Mary Ellen Porter at meporter@gilman.edu or 410-323-7178 to give future generations of Greyhounds endless opportunities.

Bequests

A bequest is a provision in a will or estate plan that allocates all or part of an individual’s estate to be directed to Gilman.
 
Example Bequest Language
I <Name> of <City, State, Zip Code> give and bequeath to Gilman School <written amount or percentage of the estate or description of the property>, to be utilized for <general use or name restricted purpose>.
 

A gift that costs you nothing during your lifetime.

Charitable Gift Annuity

A Charitable Gift Annuity or CGA is an arrangement whereby a donor transfers cash or other assets to Gilman in exchange for a partial income tax deduction and commitment by the school to pay the donor an amount (annuity) each year for a specified term. Upon the death of the beneficiary, Gilman uses the principal in accordance with the terms of the gift.
 
A gift that may provide you with a dependable source of income over your lifetime at a potentially high payout rate.

Charitable Lead Trust

A Charitable Lead Trust or CLT is an irrevocable trust designed to provide financial support to Gilman and/or other charities in annual payments for a set period of time, with the remaining assets eventually being transferred to family members or other beneficiaries.
 
A gift that may reduce the tax cost of transferring the assets to your heirs.

Charitable Remainder Trust (CRT)

A Charitable Remainder Trust or CRT is an irrevocable trust designed to reduce the taxable liability of individuals by annually dispersing income to beneficiaries for a set period of time, with the remaining assets eventually being transferred to a designated charity such as Gilman.
 
A gift that pays you income for life or for a term of years in return for that gift.

Life Insurance

Life insurance provides several planned giving options.

  1. A donor may designate Gilman as the beneficiary or partial beneficiary of a policy. While there is no income tax benefit with this option, there may be an estate tax benefit.
  2. A donor may donate existing life insurance policies; tax deductions may be equal to the policy’s replacement value.
  3. A donor purchases a policy and names Gilman as the owner and beneficiary. The premiums that the donor would pay are fully tax deductible. Upon the donor’s death, Gilman receives the insurance proceeds.

A gift that is both an estate-planning tool and a possible means for you to mitigate estate and inheritance taxes.

Retirement/IRA Account 

A donor may transfer his/her individual retirement account or IRA upon his/her death to Gilman as a qualified beneficiary. Individuals who are age 70 ½ can donate up to $100,000 a year to a charity or charities and satisfy their required minimum distribution.

A gift that allows you to leverage your retirement plan assets to benefit your family and support Gilman.

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Contact Us

 
 

Mary ellen porter

Director of Major Gifts and Planned Giving
meporter@gilman.edu