Leave a Legacy, Make a Difference for Children and Families
Planned Giving Opportunities
All those who include Pacific Oaks in their estate plans with a gift of any amount will be welcomed as members of our special Legacy Society.
The Evangeline Burgess Legacy Society offers an array of gift planning options designed to meet your needs, from providing a steady source of income now to reducing estate taxes later. Among the opportunities to consider are:
- Appreciated Property: Earn a significant income tax deduction while avoiding capital gains taxes with a gift of appreciated securities or real property. A gift of appreciated property—either real estate or securities such as stocks and bonds—reduces your tax burden while supporting Pacific Oaks.
- Bequest: A bequest is a transfer of cash, property, or securities through a will or living trust. Retain full control and use of your property during your lifetime and reduce your taxable estate by remembering Pacific Oaks in your will or living trust. Bequests cost nothing now, but leave a legacy for future generations. Your heirs may save on estate taxes, while your generosity supports Pacific Oaks.
- Charitable Remainder Trust: Consider an irrevocable gift of an asset you want to keep in the family long term while the current income is paid to Pacific Oaks. When the term ends, your children receive the property without added gift or estate tax cost.
- Retained Life Estate: A retained life estate allows you to donate your personal residence to Pacific Oaks while continuing to live there. Lower your taxable estate and enjoy a current income tax deduction by giving Pacific Oaks full or partial interest in your home while residing in it for as long as you choose. You have the option of giving your primary residence, a vacation home, or a farm. This gift also allows you to save on estate taxes while supporting Pacific Oaks’ important programs. When you create a retained life estate, you do not have to continue to reside in your home. You may rent out your home and receive the rental benefits. You may also be eligible to receive a gift annuity with your donation.
- Retirement Plan: Name Pacific Oaks as the beneficiary of your retirement account, such as a 401(k) or IRA, and reduce your taxable estate. Retirement accounts, such as an IRA or 401(k),can be donated tax free, guaranteeing that 100 percent of the proceeds you have saved go to Pacific Oaks. Typically, loved ones who receive retirement plans must pay a significant amount of deferred income taxes—a tax that can significantly reduce the amount that passes to heirs. However, retirement plans left directly to Pacific Oaks are entirely free of deferred income taxes and make your estate eligible for a charitable deduction.
- Life Insurance: A relatively small commitment can translate to a significant gift. A donor transfers ownership of an existing policy and makes Pacific Oaks the owner and irrevocable beneficiary. You receive an immediate tax deduction for the surrender value of the policy, or the annual premiums you continue to pay on the policy. Upon death, all proceeds will pass directly to Pacific Oaks. A donor may include all or a percentage gift in a new or existing policy to Pacific Oaks. Alternatively, you keep the policy and name Pacific Oaks as a beneficiary.
- Direct Gifts of Cash: A direct gift of cash can be accepted and can generate an immediate tax deduction.
A planned gift may be designated to support a program of your choice, or may be placed in the Pacific Oaks Endowment Fund to share your legacy with generations to come.
Information contained in this brochure is for educational purposes only. Please consult your financial advisors for options best suited to meet your needs and goals.
What is Planned Giving?
One of the most significant philanthropic tools available to the Pacific Oaks College and Children’s School community is planned giving. Planned giving:
- Provides funding for current and future needs of the school, thus impacting generations of Pacific Oaks students in leading lives of learning, leadership, and service.
- Can be adapted to each donor’s needs, including the opportunity for donors to make gifts that provide a lifetime source of income to the donor, while benefiting Pacific Oaks.
Contact the Office of Institutional Advancement for additional information or to be added to the membership.
Kerry Neal, Vice President
Office of Institutional Advancement
Pacific Oaks College & Children's School
714 West California Street | Pasadena, CA 91105
About Evangeline Burgess
As a driving force behind the creation of Pacific Oaks College in 1959, Evangeline Burgess embodied the spirit that still defines us today: a commitment to service and academic excellence that brings out the potential in everyone. An accomplished teacher and author, she pioneered new early childhood education programs as Pacific Oaks College's first president.