Estate & Gift Planning

Top Coed Boarding School in the MidwestSince James W. Ellsworth’s bequest of over $4 million in 1926, more than 250 members of the Western Reserve Academy community have made irrevocable gifts totaling $10,000,000 to provide the strategic funding for endowment expansion and capital projects that has been so critical for the growth and prosperity of the Academy. By doing so, those who plan their estates have demonstrated their belief that the Academy has earned the right to be stewards of their legacies. This strong financial underpinning has helped to make WRA one of the preeminent boarding schools in the country.

We are here to help you explore the methods and advantages of planned giving, which can provide you with a lifetime income, help you avoid capital gains tax, or reduce your estate tax as you provide significant support for your alma mater. Planned Gifts have become an increasingly popular method of giving as they offer attractive incentives while allowing you to control the outcome of your estate.

We are excited to share with you WRA's planned giving newsletter, LEGACY. LEGACY is intended to be helpful and informative, while also recognizing our generous alumni and friends in the Reserve Heritage Society who have included WRA in their estate plans. Here is the latest volume of LEGACY.

Read the 2016 spring issue.
Read the 2016 fall issue.
Read the 2015 issue.

For more information, contact Assistant Head of School for Advancement, Mark LaFontaine at 330-650-9704 or lafontainem@wra.net.


RESERVE HERITAGE SOCIETY

Consider establishing your legacy at Western Reserve Academy as a member of the Reserve Heritage Society (RHS), which recognizes those who shape WRA’s future by including the school in their estate plans. We thank all members, including those who prefer to remain anonymous, for their generosity, kindness and support.

IRA/RETIREMENT VEHICLES

Retirement assets can be subject to multiple levels of taxation. Because money invested in these plans is not subject to income tax when invested, income tax is due when the money is withdrawn. The combination of federal income and estate taxes can seriously erode the value of retirement savings, in certain cases, up to as much as 80 percent of the value of the plan.

Careful planning for the disposition of retirement plan assets can help you avoid these undesirable tax costs. In certain situations, gifts to the Academy of retirement account balances can improve your overall tax consequences, as you increase the amounts passing to heirs and reduce income and estate taxes. Donating retirement plan assets could be the most cost-effective gift you can make.

Planned giving is an excellent way for donors to make a charitable gift to the Academy while realizing significant tax savings. Often donors are able to structure planned gifts to generate life income from assets that aren't income-producing. Below is information about the many vehicles for planned gifts. Please contact Mark LaFontaine, Assistant Head of School for Advancement at 330-650-9704 or by e-mail at lafontainem@wra.net, if you have questions or would like more information.