Giving
Legacy Society

Planned Gifts

Planned Gifts

A planned gift is any major gift, made in lifetime or at death as part your overall financial and/or estate planning.They include outright gifts that use appreciated assets as a substitute for cash; gifts that return income or other financial benefits to your in return for you contribution; and gifts payable upon the your death or death of an heir.

List of 6 items.

  • Bequest

    You may include a provision in your will directing that a cash, property, or estate gift be paid to Jackson Prep after your death, or the death of one of your heirs. Here are some options:
    1. You may give Jackson Prep either a specific dollar amount or item of property—a "specific" bequest—or you may choose to give a percentage of your estate balance after taxes, expenses, and specific bequests have been paid—a "residual" bequest).
    2. You may direct Jackson Prep to use your bequest for a particular program or activity at our school—a "restricted" bequest—or allow us to use your bequest at your discretion—an "unrestricted" bequest.
    3. You may direct that a bequest be paid to Jackson Prep if one of your heirs does not survive you—a "contingent" bequest.
  • Charitable Lead Trust

    A CLT is an individually managed trust that holds gift assets, makes payments to Jackson Prep for a specified period of time, and then returns the balance to you—a grantor trust— or your heirs—a non-grantor trust.
    A grantor lead trust can be an attractive strategy you would like to maximize your current tax deduction but don't wish to part permanently with a valuable asset. A non-grantor lead trust is particularly effective if you wish to reduce the tax cost of passing assets within a family.
  • Life Estate Agreement

    A retained life estate allows you to make a significant gift to Jackson Prep using what may be your most valuable asset, yet does not disturb your current living arrangements or cash.
  • Life Insurance

    An important but frequently overlooked role of life insurance is the one it can play in charitable gift planning. A gift of life insurance may directly fund a gift, permitting you to make a substantial gift to Jackson Prep (face value of policy) for a relatively modest annual outlay (the premium payment). You may contribute either a new policy or allocate a portion of an existing policy, naming Jackson Prep as a primary or contingent beneficiary.
  • Living or Testamentary Trust

    A living trust, which you create, or a testamentary trust, created by your Last Will and Testament, will provide income to you (living) and assets to your heirs (testamentary) for life, with the remainder designated for Jackson Prep.
  • Qualified Retirement Plan

    Retirement plan assets are the optimal assets to direct to a non-profit like Jackson Prep. These assets can be used to support you and your spouse, before some or all is designated by percentage to the school.
    You may name Jackson Prep as the primary or contingent beneficiary of all or a portion of your IRA, 401(k), or other retirement accounts. This is revocable and does not create a charitable income tax deduction, but distributions from retirement accounts to surviving family members can be subject to both income and estate tax. Directing the balance of a retirement plan removes the most‐taxed asset from your estate.
  1. Contact Stacey Ferreri at 601-939-8611 or sferreri@jacksonprep.org to talk about supporting Jackson Preparatory School through a legacy gift.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Prep in your plans, please use our legal name and Federal Tax ID.
Legal Name: Jackson Preparatory School Foundation
Address: PO Box 4940
                Jackson, MS 39296
Federal Tax ID Number: Please contact us for our federal tax ID number.

The information in this brochure 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. Additionally, all gifts are subject to review by the Gift Acceptance Committee before being accepted by the School, and are subject to the School's Gift Policies and Guidelines.
3100 Lakeland Drive, Flowood, MS 39232 | 601-939-8611
Mail: P.O. Box 4940, Jackson, MS  39296 | prep@jacksonprep.net