Planned Giving Is:

   --A gift that will be distributed sometime in the future.
   --Often offers estate tax or income benefits to the donor.
   --Can be cash, securities, property or insurance proceeds.
   --Almost always requires that the donor consult their      financial and/or legal advisor.

Bequest Language   

 The official legal bequest language for The Episcopal School of Knoxville is: "I, [name], of [city, state, ZIP], give, devise and bequeath to the Trustees of The Episcopal School of Knoxville [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

Charitable Bequests

The term "charitable bequest" is used to describe anything given or left to charity from an estate through a will or a revocable inter vivos ("living") trust. An "estate" is any property, money, or personal belongings that a person may have at the time of death. Most people leave an estate when they die, even though they may not have a great deal of wealth. Even an individual with a small estate can arrange to leave a charitable bequest. Gifts through bequests can help reduce federal estate tax liability.

Charitable Lead Trusts

This trust is created when a donor places property or cash in trust with the income generated dedicated to ESK for a fixed period of time (usually 12 to 20 years). The assets placed in trust revert to the donor or his or her heirs at the end of the time period. The trust creates an immediate tax deduction in the year the trust is created, and it often enables the donor to pass assets to his or her heirs, usually with beneficial estate tax consequences.

Charitable Remainder Trusts

A charitable remainder trust allows the donor and/or other designated beneficiaries to receive income from a trust for their lifetime(s), or for a period of years not to exceed 20. At the end of that time, the balance of the trust is transferred to a charity that the donor has selected. The donor can take a charitable deduction for a portion of the gift made to the trust in the year the trust is formed. (In some cases, additional funds may be added in later years.)

Gift Annuities

A charitable gift annuity provides the donor with lifetime income. To establish a gift annuity, funds or assets are contributed to a non-profit organization, and that nonprofit in turn makes fixed annuity payments to the donor from its general assets for the rest of the donor's life. The donor receives an immediate income tax deduction for a portion of the gift, and a portion of each annuity payment is treated as a tax-free return of the investment. The portion of the gift not used for payments benefits the nonprofit organization.

Charitable Trusts and Life Income Plans

Trust agreements are individually written to accommodate the donor’s wishes with respect to a gift to the School while still taking care of family financial concerns. The Development Office can help you make a decision regarding these specialized financial plans, and you are urged to discuss them with your attorney or financial advisor as well.

Life Insurance

The School can be a total or partial beneficiary of an existing whole life insurance policy, or a new policy may be taken out for this purpose. Life insurance can also be used to cover charitable gifts made from your estate. Annuities may also be given to the School.

For more information about how you or a loved one can make a planned gift to The Episcopal School of Knoxville please contact:

Jay Secor
Headmaster
865-777-9032 ext. 222
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