Leaving a Legacy
A gift made today, as part of your overall financial and estate plans, that benefits TFS in the future is known as a planned gift. Planned giving allows you to provide future support to areas of the School that are of the greatest interest to you, and perhaps to make a larger gift to TFS than you may have thought possible. Such gifts can significantly transform the School’s future, while offering you an immediate tax benefit or a means to reduce your estate taxes.

If you are considering making a planned gift to TFS, we recommend you do so in consultation with your financial planner and/or legal counsel. To ensure that the School will be able to carry out your wishes, it is advisable to contact the Office of Advancement and Alumni Relations. By sharing your plans in advance you will also have the assurance of knowing that your gift will support the School’s mission, and that its designated use, if any, is understood by the Office of Advancement and Alumni Relations.

Types of Planned Gifts

Bequests
A charitable bequest, or a gift made through your will, is the most common type of planned gift, and is an excellent way for you to provide future support to TFS without parting with your assets during your lifetime. You can choose to donate a specific sum, property, or even a percentage of your estate. It is important that the bequest be correctly stated in your will, and the Office of Advancement and Alumni Relations can provide you with suggested terminology.

Gifts of Life Insurance
A gift of life insurance is one way that you can make a larger donation to TFS than you may have thought you could afford. There are three basic ways in which you can choose to support the School through a gift of life insurance:

• You may irrevocably assign the ownership and beneficiary rights of an existing and paid-up-policy to the TFS Foundation;
• You may irrevocably assign the ownership of a new or existing life insurance policy on which premiums remain to be paid; or
• You may retain ownership of a new or existing policy and name the TFS Foundation as a primary or successor beneficiary of the proceeds.

When you irrevocably assign ownership and beneficiary rights of an insurance policy to the TFS Foundation, you are entitled to a charitable tax receipt for the net cash surrender value of the policy (if any), and for any premiums subsequently paid.

Gifts of Residual Interest
Enjoy your personal property while making it a charitable gift to TFS. When you make a gift of residual interest, you irrevocably donate your personal property to TFS today, and continue to use it for the rest of your life, or for a set term of years, while receiving an immediate charitable income tax receipt for the present value of the residual interest. Gifts of residual interest can include real estate, artwork, books, and other tangible assets.

Charitable Remainder Trusts
A charitable remainder trust – like a gift of residual interest – allows you to arrange your legacy gift now and receive an immediate tax receipt, while enjoying the interest income or use of the property for life. A charitable remainder trust involves the transfer of the donated assets into a trust to be managed by a Trustee. When the trust agreement terminates, the trust remainder is distributed to the TFS Foundation. A charitable remainder trust can be funded with cash, securities, or real estate. If the property is income-producing, the net income will be paid to you, or your designated beneficiary.