The Providence Legacy Society

Planned Giving

A gift through your estate plan is a great way to make an impact for the Providence Community, and is easy to accomplish with the assistance of your attorney.

With proper planning, you can provide for the future financial security of your loved ones first. Then you can designate Providence Montessori School, and possibly your other charitable interests, to receive:

• 
  All or a portion of the remainder
• A percentage
• A specific dollar amount
• Tangible property

Life Insurance Policies and Retirement Accounts

You may support Providence Montessori School through gifts from a life insurance policy or a gift from your retirement account. This can be accomplished by simply making a change on the beneficiary form. In the place of a social security number, simply enter the school’s federal tax ID instead: 31-1041787.

New laws allow individuals age 70 ½ and older to give up to $108,000 from a qualified retirement account without that money ever being included in your taxable income.

Bank and investment accounts

In many states, it is possible to specify that whatever remains in bank accounts becomes a charitable gift that will pass free of estate tax and outside the probate process. This can be accomplished by filling out a simple change of beneficiary form.

Contributing gifts of real estate

A gift of real estate can be an excellent way to make a meaningful gift to Providence Montessori School. Properties such as houses, farms, vacation homes, office buildings, undeveloped land, and rental property are common choices.

Making a gift of stock securities

When considering what assets to use to make a gift to Providence Montessori School, stocks, bonds, mutual funds, and other securities can be an attractive option and offer special tax benefits. Congress has provided that you can deduct the full value of such gifts, including any amount that would be owed in capital gains tax if sold (thus no capital gains tax is due on the gift).

Important: In order to receive a tax receipt for gifts of appreciated securities, please notify us of the transaction by contacting us at (859) 687-5592 or paul.ransdell@provmont.org.

Charitable Remainder Trusts and Charitable Lead Trusts

Many trust options provide tax saving opportunities for families while providing impactful gifts to Providence. With the assistance of your trust advisors, you can make a lasting impact while still enjoying some tax saving strategies and providing for your family.

Providence Montessori School and its staff do not offer legal, financial, or tax advice of any kind. Always consult your own trusted professional advisor(s).