Planned Giving

Create a Lasting Legacy Through a Planned Gift

By choosing to make a planned gift — “planned today, to give tomorrow” — you will help ensure that Westfield has the resources to help students thrive today and for generations to come. You don’t need to be wealthy to make a difference; planned giving allows anyone to be a responsible steward, sharing their resources to benefit the people and causes they cherish.

This information is intended for general purposes only and should not be considered legal advice. We recommend consulting with your legal or financial advisor regarding your specific situation.

Westfield Friends School is in partnership with Friends Fiduciary Corporation (FFC) for the transfer of any securities or in offering of Charitable Gift Annuities. FFC is a Quaker, non-profit organization, offering socially responsible investment management to Quaker schools, meetings, churches, and organizations.

Kindly fill out this form to inform us of your gift and if we may recognize you as a member of the Copper Beech Circle.

Giving Options

Gifts you can make NOW

Appreciated Securities

STEPS TO TAKE

You transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to Westfield Friends School.
Westfield Friends School sells your securities and uses the proceeds for our programs.
Click here for instructions on making your transfer with Friends Fiduciary Corporation (FFC).

BENEFITS

You qualify for an immediate income tax deduction based on the stock's fair market value on the transfer date—regardless of your original purchase price.
You completely avoid paying capital gains tax on the appreciation when the stock is sold.
By giving stock instead of cash, you often gain a larger deduction for a lower effective 'cost' of giving.

Gifts from your Retirement Plan

STEPS TO TAKE

Name Westfield Friends School as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
Arrange for your retirement assets to pass to Westfield Friends School after your lifetime by instructing your plan administrator to transfer the balance.
Your plan administrator is not obligated to notify us-- if you don't tell us, we may not know. Kindly fill out the form above.

BENEFITS

You retain control and can continue making regular withdrawals throughout your life.
You keep your options open—you can change the beneficiaries if your family's financial needs evolve.
Your heirs avoid double taxation on the assets remaining in the account.
** If you are 70 1/2 or older, you can make a Qualified Charitable Distribution through your IRA tax-free.

Gifts that PAY you back NOW

Charitable Gift Annuity (CGA)

STEPS TO TAKE

On behalf of Westfield Friends School, you transfer assets of cash, securities, or IRA assets to FFC to fund your charitable gift annuity (CGA).
This CGA provides a fixed lifetime income to you, or to any two beneficiaries you name.
After your or the beneficiary's lifetime, the remainder of the gift is transferred to Westfield Friends School.

BENEFITS

Your gift provides a reliable, fixed income for life.
The older the beneficiary, the higher the annuity rate.
There may be an immediate income tax deduction for a portion of the gift.
A portion of the annuity payment may be tax-free.

Are You a Young Donor and Still Working?

If you are still working and do not currently need the income, you can fund a Deferred CGA. This allows you to take advantage of an immediate charitable deduction while starting to receive annuity income at a designated time in the future. The longer you defer the payments, the higher your payout will be.

Learn more about CGA's, including current Annuity Rates, here.

Charitable Remainder Trusts (CRT)

STEPS TO TAKE

You transfer cash, securities, or other appreciated property into a trust.
At the end of the trust term, the balance in the trust goes to Westfield Friends School.
The required minimum is $100,000.

BENEFITS

In return for your gift, you or those you name are provided with a cash flow for life or a term of years.
CRT's may offer you tax benefits. If you fund your trust with appreciated securities, you pay no up-front capital gains tax.
You may make additional gifts to the trust as your circumstances allow to gain additional cash flow and tax benefit.

There are two ways to receive payments:

The annuity trust pays fixed annual payments. Your payments stay the same, regardless of fluctuations in trust investments.
The unitrust pays you a percentage of the value of its principal, which is valued annually.

Learn more about CRT's here.

Gifts you can make in the FUTURE that cost nothing now

Bequest Through Your Will or Living Trust

STEPS TO TAKE

Include a gift to Westfield Friends School in your will or trust as a percentage of the balance remaining in your estate or trust, or as a specific amount.
Please refer to this for sample bequest language

BENEFITS

You will retain control over your assets in your lifetime and can make changes at any time.
There are a variety of assets that you can bequeath: cash, securities, real estate, interest in a business, collectibles, etc.
You can effectively eliminate estate tax liability by making a charitable bequest, as the deduction is currently unlimited.

Beneficiary Designation

STEPS TO TAKE

Designate Westfield Friends School as a beneficiary of your retirement plan, donor-advised fund, life insurance policy, investment account, or bank account.
Ask your plan administrator, insurance agent, or account manager for a beneficiary designation form.

BENEFITS

These assets bypass probate and go directly to the school.
No legal fees and simple to accomplish.
These assets pass to Westfield Friends School tax-free.

Stock Gift Transfer Instructions & Gift Form

WFS Statement_of_Testamentary_Intention-fillable