One of the simplest and most flexible ways to support The Pennington School is through a bequest in your will or trust.

A bequest allows you to retain full control of your assets during your lifetime while making a future commitment to the School. You may designate a specific dollar amount, a percentage of your estate, or the remainder of your estate after other provisions have been fulfilled. 

Benefits of a bequest may include:

• Flexibility to revise your plans if circumstances change
• Potential estate tax advantages
• Opportunity to make a significant future gift
• Ability to make a lasting investment in the future of The Pennington School
• Creation of a will at no cost

Through our partnership with FreeWill, donors can create a legally valid will online at no cost. It's a simple way to protect your loved ones while creating a lasting legacy for The Pennington School. Start your will today.

Naming The Pennington School as a beneficiary of certain assets is an easy and powerful way to create a legacy without changing your will.

You may designate The Pennington School as a beneficiary of:

• Retirement accounts, including IRAs and 401(k)s
• Life insurance policies
• Donor-advised funds
• Bank or brokerage accounts, where permitted

Beneficiary designations are often completed through a simple form provided by your financial institution or plan administrator. You can designate a specific amount, a percentage of the asset, or a contingent gift that takes effect only under certain circumstances.

Benefits may include:

• Simplicity and flexibility
• Ability to update your designation at any time
• Establish at no cost
• Ability to make a meaningful future gift to support The Pennington School

Charitable trusts can help you achieve both philanthropic and financial planning goals while creating a lasting impact on future generations of students.

Depending on your objectives, a charitable trust may provide income to you or your beneficiaries, support The Pennington School for a specified period of time, or help transfer assets to family members in a tax-efficient manner.

Charitable Remainder Trusts

A charitable remainder trust can provide income to you or your beneficiaries during your lifetime or for a specified term, with the remaining assets designated to benefit The Pennington School.

Charitable Lead Trusts

A charitable lead trust provides support to The Pennington School for a defined period. At the conclusion of the trust term, the remaining assets pass to your designated beneficiaries.

Benefits of charitable trusts may include:

• Flexible giving and financial planning options
• Income for you or your loved ones
• Potential charitable, gift, and estate tax benefits
• Long-term support for Pennington's mission

Charitable Gift Annuities

A charitable gift annuity can provide a dependable stream of income while supporting The Pennington School.

In exchange for your gift, the School agrees to make fixed payments to you for life. Payment amounts are based on your age at the time the gift is established, and a portion of your contribution may qualify for an immediate charitable income tax deduction.

Benefits may include:

• Guaranteed lifetime income
• Fixed payment rates
• Potential tax advantages
• Support for Pennington's future

If you are age 70½ or older, you may be able to make a Qualified Charitable Distribution (QCD) directly from your IRA to The Pennington School.

A QCD allows eligible donors to transfer funds directly from an IRA to a qualified charitable organization without the distribution being treated as taxable income, subject to IRS rules and annual limits.

For donors who are required to take annual Required Minimum Distributions (RMDs), a QCD can be a tax-efficient way to satisfy all or part of that requirement while supporting the mission of The Pennington School. Because the distribution is made directly to the School, it may reduce your taxable income compared with taking an RMD and then making a separate charitable gift.