Did you know you can create a legacy at St. Mark's School without changing your will or parting with anything now? You can designate St. Mark's as a beneficiary of your retirement accounts and make a tax-wise gift to support our students and mission.
Making a gift from a retirement plan, such as an IRA, 401(k), 403(b), or other qualified plan, is easier than you might think. You do not need to modify your will or living trust. You can name St. Mark's as the sole beneficiary of your retirement plan or as one of several beneficiaries by completing a simple form with your financial institution. A beneficiary designation specifies how your account will be distributed at the end of your lifetime and, in the meantime, the funds are available to you should you need them to meet your own needs.
Benefits:
- It is simple to arrange. You request a beneficiary designation form from your plan administrator. There is no need to change your will or living trust.
- You can designate St. Mark's as beneficiary of whatever portion you choose. For example, it might be 10% or 35% of what is left in your account, and the rest to family or loved ones.
- Your gift is revocable. You retain full control of your retirement funds should you need them, and you can change beneficiaries at any time.
- Your gift is tax-free. Distributions made from your retirement accounts to St. Mark's will avoid both income tax and estate tax.
We’d be happy to discuss how you can use your retirement account to help St. Mark's educate young people for lives of leadership and service. For more information about making a gift through your retirement plan, please contact us.