Planned Giving
Securing Gilbert's Future Through Thoughtful Philanthropy
The generosity of alumni and friends of The Gilbert Community who have given through bequests has helped support the mission and preserve the future of The Gilbert School. The W.L. Gilbert Trust established The W.L. Gilbert Legacy Society to recognize those individuals who have made planned gift provisions to benefit the Gilbert Community.
We invite you to explore the possibilities of how you can join the growing membership of The W.L. Gilbert Legacy Society, whose support has been vital to The Gilbert School—past, present, and future.
Benefits of Planned Giving
By establishing a planned gift, you may:
- Enjoy financial or tax benefits now while supporting future generations
- Create a lasting legacy that reflects your values
- Ensure that the work of the W.L. Gilbert Trust can support students for many years to come
- Make a more significant gift than might be possible during your lifetime
- Maintain your current lifestyle while planning for Gilbert's future
Thank you for considering The Gilbert Community in your estate or financial plans.
Ways to Make a Planned Gift
Bequests
Through a provision in your will or living trust, you can make a gift in the form of cash, securities, real estate, or personal property. The bequest may provide:
- A specific dollar amount
- A percentage of your estate
- The remainder after all other beneficiary distributions
- Specific assets such as property or securities
Sample bequest language is available below. We encourage you to have a conversation with your financial advisor or attorney to determine the best approach for your circumstances.
Sample Bequest Language:
"I give, devise, and bequeath to The W.L. Gilbert Trust Corporation, a nonprofit corporation located at 200 Williams Ave, Winsted, CT 06098, Federal Tax ID# 06-0669114, [specify amount, percentage, or description of property] for its general purposes.'
For restricted gifts or endowed funds, additional language may be needed. Please contact our office for assistance.
Charitable Trusts
You may consider establishing a charitable remainder trust and naming the W.L. Gilbert Trust Corporation as a beneficiary.
How it works:
- You irrevocably transfer cash, securities, or other property to a trustee
- The trust provides you (or designated beneficiaries) with income during your lifetime
- The Gilbert Community benefits from what remains in the trust after all trust payments are made
- You receive an immediate income tax deduction for a portion of your gift
- You avoid capital gains tax on appreciated assets transferred to the trust
For more information on establishing a trust to benefit The Gilbert Community, please discuss options with your attorney or financial advisor.
Beneficiary Designations
One of the simplest ways to make a planned gift is by naming W.L. Gilbert Trust Corporation as a beneficiary or partial beneficiary of:
- Retirement assets (401(k), 403(b), pension, IRA)
- Life insurance policies
- Donor-advised funds
- Bank or brokerage accounts
Why consider retirement assets? Retirement accounts can be subject to both estate and income taxes, sometimes losing up to 70% of their value to taxation. By designating a charity as beneficiary, you can:
- Accomplish a philanthropic goal
- Realize significant tax benefits for your heirs
- Preserve other assets for family members
How to designate The W.L. Gilbert Trust Corporation: Request a change of beneficiary form from your plan custodian, broker, banker, or insurance agent. List:
The W.L. Gilbert Trust Corporation
200 Williams Avenue
Winsted, CT 06098
Federal Tax ID: 06-0669114
Please let us know when you've named us as a beneficiary so we can thank you and welcome you to The W.L. Gilbert Legacy Society!
IRA Charitable Rollover (Qualified Charitable Distribution)
A charitable IRA rollover allows donors age 70½ or older to transfer up to $100,000 directly from their IRA (or IRAs) to a qualified charity each year.
Key benefits:
- The transfer is not recognized as taxable income on your tax return
- Counts toward your required minimum distribution (RMD) for the year
- Avoids additional taxable income, which may help you avoid taxation at a higher bracket
- Simple process with significant tax advantages
What you can accomplish with an IRA rollover:
- Satisfy multi-year pledges to The Gilbert Community
- Create or add to a permanent endowed fund or scholarship in your name or in memory of a loved one
- Make an immediate impact on current students
- Support The Yellowjacket Fund or any designated program
Note: While the transfer cannot be claimed as a charitable income tax deduction, the tax savings from excluding it from income often provides greater benefit.
Gifts of Stock or Securities
Donating appreciated stocks, bonds, or mutual funds directly to The W.L. Gilbert Trust Corporation offers significant advantages:
- Avoid capital gains tax on the appreciation
- Receive a charitable deduction for the full fair market value
- Make a larger gift than you might with cash
If you wish to make a donation of stock or securities, please contact the Alumni Office for transfer instructions and assistance.
Gifts of Real or Personal Property
Gifts of real estate, art, collections, or other personal property can provide tax benefits while supporting the Gilbert Community. These gifts require careful planning and evaluation.
Real property gifts may include:
- Primary or secondary residences
- Vacation homes
- Undeveloped land
- Commercial property
- Farmland
Personal property gifts may include:
- Artwork or collections
- Antiques or valuables
- Vehicles or equipment
- Gilbert Archives
If you're interested in exploring a gift of real or personal property, please contact the Alumni Office to begin a confidential conversation.
The W.L. Gilbert Legacy Society
Members of The W.L. Gilbert Legacy Society have made provisions for The Gilbert School in their estate plans. We recognize these thoughtful donors during their lifetimes and honor their commitment to future generations of Gilbert students.
Legacy Society benefits include:
- Invitations to special events
- The satisfaction of knowing your legacy will educate students for generations to come
Your gift is confidential. You may choose to remain anonymous, and you're under no obligation to disclose the amount of your planned gift.
Start the Conversation
Planned giving is deeply personal, and we're here to help you explore options that align with your financial goals and philanthropic vision. All conversations are completely confidential.
Contact the Alumni Office:
Phone: (860) 379-1245
Email: gilbertalumni@gilbertschool.org
We strongly encourage you to consult with your financial advisor, attorney, or tax professional when considering any planned gift.
Frequently Asked Questions
Can I change my mind after making a planned gift commitment? Yes. Most planned gifts (such as beneficiary designations and bequests) can be modified or revoked. Only irrevocable gifts, such as charitable remainder trusts, cannot be changed once established.
Will my gift be used as I intend? Absolutely. You can direct your gift to a specific purpose, create an endowed scholarship, or provide unrestricted support. We'll work with you to ensure your wishes are documented and honored.
What if I can't make a large gift now? Planned gifts allow you to make a significant impact in the future while maintaining your current lifestyle. Even modest provisions in your estate can create meaningful support for Gilbert students.
How do I join The W.L. Gilbert Legacy Society? Simply inform us that you've included The Gilbert School in your estate plans. We will recognize your commitment and keep you updated on how planned gifts are making a difference.
The W.L. Gilbert Trust Corporation is a 501(c)(3) nonprofit organization. This information is provided for educational purposes and should not be considered legal or tax advice. Please consult your own advisors regarding your specific situation.