Planning your estate is more than just crunching numbers. It’s about having a lasting impact on the people and places you care about.
With a planned gift to DSPT, you can contribute to the formation of leaders for the Church and society for generations to come. And it may be easier than you think!
Often times, all that’s needed to make a gift through your will, trust, retirement, or life insurance policy is to request a change of beneficiary form from your attorney or plan adviser. Use the form to designate the "Dominican School of Philosophy and Theology" as a beneficiary.
Please consider the following options, and consult with your attorney or financial adviser on the options that may be best for you.
One of the easiest planned gifts to make is a bequest. Upon your passing, all (or a portion) of your estate or trust can be donated to DSPT. This allows you to:
For your convenience, sample bequest language is given below. Always consult your professional financial adviser before making charitable decisions.
Bequest of Cash
I give to the Dominican School of Philosophy and Theology the sum of $______________ to be used for the greatest need [or for stated purpose.]
Bequest of Property
I give to the Dominican School of Philosophy and Theology [Description of property] to be used for the greatest need [or for stated purpose.]
Bequest of the Complete (or Partial) Residue of Estate
I give to the Dominican School of Philosophy and Theology all [or ________% of the remainder and residue] of my estate to be used for the greatest need [or for stated purpose.] To the extent that my estate has items of “income in respect of a decedent” available for distribution, those items shall be allocated first to any gifts under this Will qualifying for the federal estate and income tax charitable deductions.
Though not required, it is helpful to have a copy of the page of relevant provisions from your will or trust showing the Dominican School of Philosophy and Theology as a beneficiary.
Making gifts from your IRA, 401(k), 403(b), ESOP, or other qualified plan, can offer you some unique advantages such as:
Ask your plan adviser for a change of beneficiary form, and make the “Dominican School of Philosophy and Theology” a beneficiary. At your death, all (or a portion) of the assets left in your plan pass to DSPT.
You can make a deferred gift to the Dominican School of Philosophy and Theology using life insurance. This may allow you to make a larger contribution than you thought possible. Benefits may include a current income tax deduction for the gift of the policy, continuing income tax deductions for periodic premium payments, removal of the insurance from your taxable estate, and the satisfaction that comes from making a gift to benefit DSPT.
Types of Insurance
Making a gift of your life insurance policy can:
Ask your plan adviser for a change of beneficiary form, and make DSPT a beneficiary or owner of your life insurance policy.
Before making a gift of real estate, please contact the Office of Advancement or call 510-883-2086.
Real estate can be donated even while you continue to use it, and can offer significant savings on your taxable estate. Appraisals are needed, and unfortunately, not all property can be accepted.
Real estate can also be transferred through what’s called a “Bargain Sale”.
You sell DSPT your property for a price less than fair market value.
You receive the cash from the sale and a charitable deduction for the difference between the fair market value and bargain sale price.
While you may owe some tax on the amount you receive from the sale, the charitable deduction from your gift could offset your taxes this year.
If you are considering selling your property, a bargain sale will help you meet your goals. Bargains sales can:
Office of Advancement
Director of Development
Tel: (510) 883-2086 Cell: (415) 310-9703
Tax ID 94 1270354 (St. Albert's College Corporation dba Dominican School of Philosophy and Theology)
Disclaimer: DSPT does not advise on any personal income tax requirements or issues. Use of any information from this site or any other web site referred to is for general information only and does not represent personal tax advice either express or implied. You are encouraged to seek professional tax advice for personal income tax questions and assistance.