Legacy Society

Lakehill Preparatory School’s Legacy Society looks to honor and recognize alumni, parents, and friends who establish bequests or other lifetime planned gifts.  Below are two of the most common planned giving options.  If you have already included Lakehill in your lifetime planned giving, please let us know.  If you would like more information about the Legacy Society and its benefits, please contact th Office of Development.

If you would like to make a gift on-line to the Legacy Society, please click here.

Will Bequest

Perhaps the most common planned giving arrangement for the benefit of Lakehill Preparatory School is the will bequest. Charitable gifts made by will are 100% tax deductible. As with current gifts, bequests may be designated either as unrestricted – giving the school the flexibility to spend as desired– or restricted; that is, designated for a specific purpose or campaign.

A will bequest is simple and convenient. A bequest can be for a specific dollar amount or for a percentage of your estate. Many individuals establish endowments that honor the memory of a family member or another loved one. Since a will is an important legal document, you should seek an attorney's help.

Charitable Remainder Trust

A Charitable Remainder Trust (CRT) is a very simple method of support for Lakehill Preparatory School.  By employing this gift technique you can improve your income, save on your income tax, and help avoid up-front capital gains tax on appreciated assets.

There are two basic types of CRTs—the annuity trust and the unitrust. These two are similar in many respects. If you are the donor:

• The trust must first pay income to you and any other individual you name, typically for your lifetime; at termination, the balance of the trust assets must pass to a qualified tax-exempt organizations – Lakehill Preparatory School.
• You receive an income tax charitable deduction for a portion of the fair market value of the assets placed in the trust. This depends on the number and ages of the income beneficiaries, the payout rate, and the frequency of payments.  The income tax savings reduce the net cost of your gift and improve your effective rate of return.
• When you use appreciated securities to fund the trust, you are not taxed up-front on the capital gain. And your deduction for a gift funded with long-term securities is based in part on their full fair-market value—not their lower cost basis.

For information on these or other types of planned gifts, please contact the Office of Development.