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Planned Giving
Leaving your Legacy to Dutchess Day School
If you are like most people who donate to Dutchess Day School, it is because you believe in our mission and vision and want to see it continue to grow and prosper. What if you could make a permanent difference in strengthening that mission and vision? You can!
If you already have a will, you can add a gift to DDS through a codicil (amendment). Or any asset for which you can designate a beneficiary can be bequeathed whole or in part, such as an IRA and a paid-up life insurance policy. Other assets that you can bequeath include cash, securities, real estate, CDs, U.S. Savings Bonds and personal property.
A gift can be specific—a particular item such as artwork or an amount of cash; residual—for all or a portion of the estate after specific bequests have been distributed; or contingent—which takes effect only in specific circumstances that you define, e.g., if all heirs predecease you.
Leaving unrestricted dollars enables DDS to use your gift where the need is the greatest. Leaving restricted gifts is appreciated as well. If you wish to designate your gift to a specific program or use, please discuss your plans with us in advance to ensure that your wishes can be carried out.
If you wish to make a legacy gift, we would be pleased to work with you and your advisor to determine the gift that best suits your situation and interests. Contact Hillary Henderson, director of development, at (845) 677-5014 or by email henderson@dutchessday.org.
Bequests
Dutchess Day School established the Tower Society in 2010 to recognize the generosity of parents, grandparents, past parents, alumni, and friends who have made provisions for Dutchess Day School in their estate plans. A bequest or trust of any size qualifies an individual for membership in the Society, and helps secure DDS’ future for generations of students.
Remainder Interests
The School will accept a gift of a remainder, whether transferred by lifetime gift or bequest, and without regard to the age of the income beneficiary, provided that the School has no management responsibility for the period prior to taking possession of the remainder. If the gift is made in lifetime, you may be eligible for an income tax deduction equal to the actuarial value of the reminder. If the gift is made by will, you will receive an estate tax charitable deduction equal to the actuarial value of the remainder.
Income Interests
Dutchess Day School will accept a gift of an income interest provided that the school has no management responsibility for the period of the income interest. You may be able to exclude the income payable to the School, from year to year, from your income and thus receive the equivalent of a deduction. You may be eligible for a gift tax deduction for the present value of the payments to DDS, thereby creating the possibility of transferring property to your heirs with greatly reduced, or possibly eliminated, gift taxes.
Retirement Plan Benefits
The School will accept a post-mortem lump-sum gift of any balance remaining in a qualified plan (401(k) plan, pension or profit-sharing plan), IRA of Tax Sheltered Annuity. You may be eligible for an estate tax deduction.
If you have any questions, please contact Hillary Henderson, Director of Development at Henderson@dutchessday.org. In addition, please consult your attorney or tax advisor for application of the principles summarized above to your personal situation and intended type of gift.
THANK YOU for your support of Dutchess Day School!