Planned Giving

• A bequest is a gift of cash, stock, appreciated securities, real estate, or tangible property designated in your will or trust that comes directly to GPS upon your passing.
• A revocable bequest can be revised any time, as your circumstances change.
• An outright bequest may be fully deductible for estate tax purposes (consult you tax professional).
• The most common and useful bequest is an unrestricted bequest, allowing GPS to use your gift wherever it is most needed.
• Naming GPS a beneficiary of a specific amount or asset from your estate is easy. Just use the language below in your will or trust:
  • I give, devise, and bequeath to Girls Preparatory School the sum of $____(or _____% of my estate) (or description of specific property) for the benefit of GPS and its general purposes.

If you don’t have a will or your will needs an update, use our estate planning tool at no cost to you. We’ve partnered with FreeWill to make giving easier than ever. Click GET MY FREE WILL to get started. It can take as little as 20 minutes to complete.

• You can name GPS as the beneficiary of all or a percentage of your
  • RETIREMENT PLAN (IRA, 401K, 403B), 
  • LIFE INSURANCE POLICY, 
  • DONOR ADVISED FUND, or  
  • COMMERCIAL ANNUITY
• You may be able to escape both income AND estate tax levied on the residue left in your retirement account when leaving it to GPS
• You can continue to take withdrawals during your lifetime
• You can revoke GPS as a beneficiary if your circumstances change
• It takes only four simple steps to name GPS as a beneficiary:

1. 1. Contact your retirement plan administrator, insurance company, bank or financial institution and request a change-of-beneficiary form.
   2. Decide what percentage (1 to 100) you would like to give and name Girls Preparatory School, along with the percentage you chose, on the beneficiary form.
   3. Return the completed form to your plan administrator, insurance company, bank, or financial institution.
   4. Contact GPS to let us know you have named GPS as a beneficiary and you will be welcomed into The Cornerstone Society.

• You may be able to set up a tax-exempt irrevocable trust that provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust. 
• At the end of the trust term, the remaining balance in the trust goes to GPS.

• IRA Charitable Rollover
• Charitable lead Trust