A bequest to Bishop John A. Marshall School is a wonderful way to ensure what is important to you continue to be supported beyond your lifetime. Bequests can be made by will or revocable trust.
Bequests can take a variety of forms, including:
- A specific dollar amount
- A specific percentage of your estate
- A specific asset
- A “residuary bequest” in which you name Bishop John A. Marshall School to receive all or part of your remaining estate after bequests to loved ones have been satisfied
With a bequest, you have the flexibility to adjust your gift through a simple amendment if your life circumstances change. In addition, you may receive valuable estate tax savings.
Sample Bequest Language
“I give and bequeath [specific dollar amount, specific percentage, or described property] to Bishop John A. Marshall School with the request that the fund/property thus transferred be used for the following purpose(s)*: ______________________ [ADD IF APPLICABLE: pursuant to the Gift Agreement on file at Bishop John A. Marshall School].”
Charitable QTIP Trust
Another type of bequest can be made through a Charitable QTIP Trust
Charitable Qualified Terminable Interest Property Trust – With a Charitable QTIP trust, you can direct the income from the trust (and principal, if needed) to your spouse for life, after which the remaining assets will pass to BJAMS. The entire value of the trust will escape estate and gift tax. Please contact your estate planning attorney to see if this option is appropriate for you.
To learn more about making a bequest or to notify us of your planned gift, please contact: Michelle Tomlinson, Development Coordinator at mtomlinson@bjams
Bishop John A. Marshall School does not provide legal or tax advice. Please consult your professional advisor prior to entering into any planned giving arrangement.
