Testamentary Life-Income Gifts
How It Works
- You write a will or revocable trust directing a bequest to the Taft School.
- You provide that the bequest first create a life-income gift benefiting your designated recipients.
- After their income interest terminates, the remaining balance in the gift passes to the Taft School to be applied to the purposes you specify.
- One estate asset can benefit both the Taft School and your heirs or other desired beneficiaries.
- Your estate will be eligible to claim a charitable deduction for a portion of the amount of your bequest.
- You can modify your bequest if your circumstances change.
- More detail on testamentary life-income gifts.
- Fequently asked questions on testamentary life-income gifts
- Contact us so we can assist you through every step.