Plan for Springs Future
Estate gifts are critically important to Indian Springs School's long-term financial strength. Thank you for considering how you might plan for Springs' future.

Replace Annual Gifts with a Gift to Endowment
Just as Springs relies on you today, Springs hopes to rely on you in the future.  By making an estate gift to endowment, donors can ensure that their annual support of ISS will continue in perpetuity as income from the endowment supports annual operating needs. 

The Ultimate Gift
Additionally, donors are able to make gifts through their estates that they are not able to while they take care of their individual and family needs.  Many choose to make their ultimate gifts through their estate plans.  You can choose to have Springs apply your gift as needed, or you may designate a specific purpose such as program or capital needs. 

Please feel free to discuss your interests with Springs so that we can be sure to follow your wishes.  A range of programs and capital needs exist, as well as naming opportunities to honor for family or other loved ones.

Estate Planning Options
Basic estate planning options including bequests, life insurance policies, retirement plans, remainder interests, and charitable remainder trusts.

A will or revocable trust is used to make a gift from your estate. You may also use life insurance or a retirement plan. These gifts help you keep your lifetime financial planning flexible. The difference between a will and a trust is your will is your instruction manual to your survivors about how you want your property distributed. It is a revocable, private document that only takes effect after your death. A revocable trust (sometimes called a living trust) is a legal entity that holds assets during your lifetime, then transfers ownership of them – or benefit from them – upon your death. Unlike a will, a trust must take title to assets before it can pass them to your survivors.

There is no difference between wills and trusts in how transfers from them are taxed. In some states, however, the probate and distribution process is simpler with a revocable trust. Your advisers can guide you in choosing which vehicle will work better for you.

If you already have a will or trust, your attorney can prepare the simple document, called a codicil, which adds a new bequest to us while reaffirming the other terms of your will. Similarly, he or she can prepare an amendment to your revocable trust to add Indian Springs as a beneficiary.

Adding Springs to your Will
The most straight-forward estate planning option is a bequest because it is easy to arrange. It is not payable until death, so it does not affect your assets or cash flow during your lifetime. It is private–your will is not filed or made public until your death. And, it is revocable–you can change the provisions in your will or trust at any time until death.

A bequest can deliver a specific gift ("I give the sum of _____dollars"), or all or a portion of the balance remaining in your estate after expenses, taxes, and specific bequests have been paid – what’s known as the residue of your estate ("I bequeath ____ percent of the residue of my estate"). Generally, giving a percentage of the residue allows for more flexibility in your long-term planning.

A charitable bequest or trust distribution is deductible for federal estate tax purposes, and there is no limit on the deduction your estate can claim. In addition, the gift is usually exempt from state inheritance taxes.

Your bequest can deliver a specific dollar amount, asset, or percentage of your estate: "I give all the General Motors stock which I own at the time of my death to Indian Springs School, an Alabama non-profit corporation located in Indian Springs, Alabama"

Alternately, you can give us all or a percentage of the balance remaining in your estate after expenses, taxes, and the specific bequests have been paid: "Of the rest, residue and remainder of my estate, I give _____ percent to Indian Springs School, an Alabama non-profit corporation located in Indian Springs, Alabama."

Finally, your bequest can be payable to Indian Springs if the initial beneficiary is unable to inherit it: "If my nephew does not survive me, is otherwise unable to inherit, or disclaims this bequest, I direct that it be paid to Indian Springs School, an Alabama non-profit corporation located in Indian Springs, Alabama."

Your bequest can be used by us in two ways. It can be directed to a specific program or purpose at Indian Springs, or you can tell us to apply it to our general resources and use it for the need that we believe is most pressing at the time it is received. So that your gift can be applied as needed, we prefer that the terms of a bequest be as general as possible, and ask you to consult us if you are considering a bequest for a specific purpose here.