Riverside School is especially grateful to donors who leave a lasting legacy through a planned gift. These gifts can help sustain Riverside School’s mission and extraordinary record of educational achievement for years to come.
Forward-thinking donors who make a planned gift join Riverside’s 1974 Society. Named in honor of the school’s founding year, the society includes members with varied connections to the school who are united by the recognition of the valuable role Riverside plays in our community.
We would be honored to talk with you about the different ways you can support Riverside with a planned gift, and you can reach us at 804-320-3465 or by email. The information below is provided as a basic introduction, but Riverside School recommends contacting a financial professional to help you decide the best course of action when making estate plans.
What is a Qualifying Gift?
• Bequests (through your will or living trust)
• Retirement Plans and IRAs (through a beneficiary designation)
• Charitable Trusts
• Life Insurance (by gift or beneficiary designation)
A bequest is a written statement in your will directing that specific assets, or a percentage of your estate, be transferred to Riverside School upon your death. Bequests are the backbone of all planned giving programs and historically have been the most popular form of planned gifts. They are easy to understand and do not require you to part with assets during your lifetime.
Retirement Plans and IRAs
You can avoid paying high rates of tax and reduce your overall taxable estate by making Riverside School the residual beneficiary of all or part of your retirement assets. Use your plan’s standard beneficiary designation to assign the assets to Riverside School upon your death. These assets will automatically transfer to Riverside School and not be taxable in your estate or on your final income tax return.
A charitable trust, also known as a split interest trust, is any trust created, either during your lifetime or at death, that has a charitable beneficiary or a charitable remainder.
Life insurance affords you the opportunity to make a gift at a sizable face value for a minimal outlay of cash. You may donate an existing policy, either fully paid or partially paid, or a new policy. Simply name Riverside School as a beneficiary of your policy on the beneficiary designation form.