For US taxpayers, under present rules, a gift made to St Anne’s (via a US-based charity) is deductible for federal estate tax purposes, and there is no limit on the amount of the estate tax charitable deduction.
In addition, bequests are not subject generally to state inheritance or estate taxes. In a large estate, the savings may be more than half of the value of the bequest under the current rules.
You can make such a gift by creating a new will, adding a codicil to your current will, designating St Anne’s as a beneficiary of your retirement plan, or including the College in your revocable trust or other estate plan.
This method allows you to give all or part of the net residue of your estate to the College, after other responsibilities have been honoured, and any debts, fees and other liabilities have been met. This type of benefaction is unaffected by inflation.
This simple legacy form sets aside a specific proportion of your estate for the College.
This simple legacy form gives a specific sum of money to the College. Note that inflation will erode the value of your gift over time. Alternatively, you might leave specific assets to St Anne’s, such as securities, real estate or personal property.
This legacy provides for the College in the eventuality that no other named dependants survive you.
There are a number of other legacy types which enable donors to maximise income during your life and / or the lives of loved ones, while supporting St Anne’s. These will require the assistance of financial planners and estate lawyers; however the benefits – both to your family and to the College – may be significant. If these methods are of interest, we will happily provide more information.