Make a Gift in 3 Easy Steps
Beneficiary Designations Are Easy and Flexible
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Designating Breck School as a full or partial beneficiary of a retirement plan, insurance policy, commercial annuity, or other account is a flexible and easy way to support Breck students, faculty, and programs.
A beneficiary designation allows you to:
- Make a gift while maintaining your lifetime payments and control of your assets during your lifetime
- Designate your gift to support the Breck program or fund of your choice
- Protect those assets from the estate and other tax consequences to your heirs
- Change your gift designation at any time during your life
It only takes three, simple steps to make this type of gift. Here's how to name Breck School as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and Breck School over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Breck School a $75,000 IRA to be transferred following their lifetime. Because Breck School is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $21,000* would have gone to pay federal income taxes-leaving only $54,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 28 percent marginal income tax bracket.
Make Sure You Have a Plan for All Your Assets
- Contact Sara H. Jones, J.D. at 763.381.8208 or firstname.lastname@example.org for additional information on beneficiary designations and how they can help support Breck School with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name Breck School in your plans, please use our legal name and federal tax ID.
Legal Name: Breck School
Address: 123 Ottawa Ave N, Golden Valley, MN 55422
Federal Tax ID Number: 41-0693894
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.