Support MFS - Planned Giving
Giving by Bequest
 By leaving a gift through your will, you support in a lasting way the traditions and the students of MFS. The information provided below may be helpful in working with legal counsel as you consider preparing a will that benefits MFS. If you have already prepared a will but would like to make a provision for MFS, you can include the School simply adding a codicil to your will. Remember, with both wills and codicils, it is important to work with an attorney to make certain that all legal requirements have been met.
Suggested Wording
The following paragraphs offer the suggested wording for a bequest to MFS by a provision in a will or the addition of a codicil to an existing will.
If you want to bequeath a specific amount of money or property:
I hereby give and bequeath to Moorestown Friends School, Moorestown, New Jersey, the sum of $XXXX OR the following described property.
If you would like to name MFS as the residuary beneficiary of your estate, the School would receive the amount remaining after commitments itemized in your will have been fulfilled.
I hereby give and bequeath to Moorestown Friends School, Moorestown, New Jersey, all of my residuary estate, OR a portion of my residuary estate equal to XX percent thereof.
The language in reference to a residual beneficiary provides flexibility for an estate plan. Should assets decline in value, MFS's share would also decline. Similarly, should estate assets increase in value, MFS's share would increase proportionately. Such built-in flexibility means that your will does not need to be revised to reflect every change in financial circumstances.
Tax Wise
When determining your estate plan, remember that a bequest to MFS is not subject to federal estate or inheritance taxes. The value of the bequest is deductible when determining the taxable estate. In other words, the bequest will reduce the size of the taxable portion of your estate and the size of the federal tax liability.
Estate Gifts
Unrestricted gifts that provide general support are vital to Moorestown Friends School. However, if your bequest is greater than $25,000, you may be interested in establishing a named endowment. An endowment agreement directs the School in the use of the income from the bequest. The Development Office can prepare an endowment agreement with you to establish parameters for an endowed fund that could provide continual scholarships or support for MFS faculty members. The endowment agreement need not be included in the will or codicil.
 MFS Legacy Society
If you do make a provision for MFS in your will, please let the School know so that your generosity can be acknowledged. Some alumni and friends notify the School by sending a copy of the portion of their will that refers to their commitment to MFS. Everyone who includes MFS in their estate plans will be welcomed into the Moorestown Friends School Legacy Society.
Questions?
You and your attorney are welcome to direct any questions to:
Stephen Zakroff
Director of Development
Moorestown Friends School
110 E. Main Street
Moorestown, NJ 08075
(856)235-2900, ext. 211.
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