Planned Giving at Gow
An estate plan will benefit you, Gow, and those you love.
What is a Planned Gift and why should we have one?
Regardless of your estate size, your Planned Gift may be the most important document you create. A Planned Gift may include a donation to a favorite charity like Gow. You can stipulate this gift in your will as either a set amount or percentage of your estate (called a bequest), or make a gift of life insurance or retirement funds during your life. Estate planning offers tax benefits for you and your family, and ensures that your assets are distributed to the people and places that are important to you.
A Planned Gift is a charitable instrument designed (preferably with professional advice) to optimize your financial, tax, and estate wishes. Planned Gifts help donors to maximize their charitable giving and minimize taxes. Your will can be altered at any time. You can make an unrestricted gift (so that Gow can use it where needed most) or restrict it to a program or area of interest such as scholarship or endowment. You may be able to request a naming opportunity such as a fund in your name or in honor or memory of a loved one in exchange for your commitment.
Designate a Gift to Gow in your Will
An estate plan will benefit you, Gow, and those you love.
Include GOW IN YOUR WILL
Making a Planned Gift is simple, provides tax benefits for you and your heirs, and gives you the peace of mind to know that your favorite people and charities are taken care of when you pass away. You can designate a set amount or percentage of your estate, and if your intentions should change, you can alter your will. Your gift can be unrestricted (so Gow can use it where needed most) or restricted to scholarship, endowment, or a favorite department. You can create a fund in your own name or to honor someone special.
If you have already included Gow in your will, please complete and return the form below to the Development Office so we can recognize you as a Wolbach Planned Giving Society member.
To Make a Gift to Gow in Your Will
By including just one sentence, you can complete your gift. Ask your attorney to review and include the following wording in your will: “I give and bequeath to The Gow School (Tax ID# 16-1034793), located in South Wales, New York, the sum of $______ OR ______% of the rest, residue and remainder of my estate.”
Donate a Life Insurance Policy
If you have paid off an insurance policy, you can donate it or name Gow as the beneficiary. If you pay the premiums, you can receive a tax deduction. You could also sell an unneeded insurance policy and donate the proceeds, earning an immediate tax deduction.
Donate Your IRA
If you are age 70 1/2 and have to take a Required Minimum Distribution (RMD) from your IRA, you can donate it to Gow. This donation will reduce your adjusted gross income and tax burden.
Make Gow a Beneficiary of Your Retirement Plan
If Gow is the beneficiary of your retirement plan, this will eliminate estate and income taxes on the plan assets. If you name Gow as a beneficiary, at your death, 100% goes to Gow.
We would love to answer your questions and help you make a gift to Gow. Please contact Gow’s Director of Development, Gayle Hutton, at 716.687.2074 or email ghutton@gow.org for more information. We encourage you to consult your professional advisors to determine which giving options are most appropriate for you.
Make a Gift
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