Planning Ahead

Remembering Putney
Hugh Montgomery, P ’04 and ’05, Director of Development

Thank you for taking a few moments to explore how you might include The Putney School in your plans.

We know that Putney is only a part of your life and that you need to consider your own needs, your obligations to family and friends, and your interest in a variety of worthy charitable organizations.  

On behalf of current and future members of the Putney School community (and all whose lives will be enriched by them), many thanks for your consideration. As you may know, simple bequests (in one form or another) are collectively the most powerful financial tool we have to sustain and improve the Putney experience. We are grateful that you are exploring this way to make Putney even better.

In thinking about your options, it may be helpful to conduct a simple personal inventory, first of the people and charitable organizations that you want to help, and then of the major resources you control that might be used to fulfill your wishes, now and in the future. While we at Putney clearly hope that you might include the school among your top priorities, that choice is yours. I hope that some information and conversation will be helpful to you and your family and that you discuss your plans with your attorney or other advisors.

Estate planning issues nearly everyone should consider

Individual circumstances vary widely, of course, but most of us should:

Make provisions for your financial affairs to be handled if you become incapacitated:
     Create a durable power of attorney and possibly a revocable living trust.

Make sure your health care wishes are carried out if you become incapacitated:
     Create a living will, name a healthcare agent and provide HIPAA releases.

Name a guardian for minor children:
     Do this in your will.

Ensure that your assets are distributed to the individuals and/or charities of your choice in the manner you desire:
        ❑ Create a will and possibly a revocable living trust and other types of trusts.
        ❑ Complete and review beneficiary designation forms carefully
            (for IRAs, qualified retirement plans, commercial annuities and life insurance policies).
        ❑ Review titling of your assets.

There are many ways to include charities in your plans. Here are a few of the simplest, many of which cost nothing to arrange:

Use beneficiary designation forms to name charities as beneficiaries of:
        ❑ A life insurance policy
        ❑ A commercial annuity
        ❑ An IRA
        ❑ A qualified retirement plan (e.g., a 401(k) or 403(b))

Remember charities in your will or revocable living trust:
        ❑ Leave a percentage of your estate or trust assets
        ❑ Leave a set dollar amount
        ❑ Leave the remainder of your estate after specific dollar amounts or assets are left to loved ones

Leave one or more specific assets (such as a family heirloom, or government savings bonds)

Title or retitle a bank account as “payable on death” (POD) to charity or a brokerage account as “transfer on death” (TOD) to charity

Create an arrangement that provides for charities and loved ones
     (There are many ways to do this. Contact us to review some ideas that reflect your personal situation.)

To request more information about bequests and other ways to support The Putney School, please contact me (802-387-6272) or my colleague Brian Cohen (802-387-6261). We’d be delighted to help you explore what would work best for you.

Thank you again for taking steps to enhance Putney’s future.

 

The Putney School | Elm Lea Farm, 418 Houghton Brook Road, Putney, Vermont 05346-8675
802-387-5566 (main) | 802-387-6278 (fax) | admission@putneyschool.org | info@putneyschool.org
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