the walker society Named for Joseph G. and Violet N. Walker, the Walker Society was established in 1992 by the Woodberry Forest board of trustees to honor those alumni, parents, grandparents, and friends who choose to sustain the mission of the school through planned and estate gifts. Joseph Goss Walker was the second oldest son of the school’s founder, Robert Stringfellow Walker. For health reasons, Joseph chose not to continue his educational pursuits after Woodberry. Instead, he stayed at the Forest to assist his father on the farm. He subsequently served as a proctor at the school and eventually its business manager. His wife, Violet, brought wonderful energy to Woodberry. An artist at heart, she painted, started the school’s first book club, taught dancing lessons, and directed the glee club, but Violet’s true love was horticulture. She started a nursery, ornamented the grounds, and maintained the gardens around the Walker Building and The Residence. Her talent was widely recognized, and she was instrumental in the creation of the Garden Club of Virginia, serving as one of its original presidents. In addition to their nearly 50 years of service, Joseph and Violet Walker so loved Woodberry that they left their entire estate to the school. Please consider sustaining Woodberry’s rich heritage and extraordinary record of educational achievement by making a planned gift to the school. You will be listed as a Walker Society member each year in the Annual Report. What is a Qualifying Gift? » Bequests (through your will or living trust) » Retirement assets (through a beneficiary designation) » Charitable remainder or lead trusts » Charitable gift annuities » Life insurance (by gift or beneficiary designation)
Bequests
Retirement Plans and IRAs
A bequest is a written statement in your will directing that specific assets, or a percentage of your estate, be transferred to Woodberry Forest upon your death. Bequests are the backbone of all planned giving programs and historically have been the most popular form of planned gifts. They are easy to understand and do not require you to part with assets during your lifetime.
You can avoid paying high rates of tax and reduce your overall taxable estate by making Woodberry Forest the residual beneficiary of all or part of your retirement assets. Use your plan’s standard beneficiary designation to assign the assets to Woodberry upon your death. These assets will automatically transfer to Woodberry and not be taxable in your estate or on your final income tax return.
Including Woodberry Forest in Your Will The following are examples of bequest language suitable for use in wills. Supplemental language is required when a donor wishes to restrict his or her gift for a particular purpose. (Your attorney may wish to modify this language, but these simple examples are adequate in most cases.) Specified Bequests I give, devise, and bequeath to Woodberry Forest School, Woodberry Forest, Virginia, a) the sum of ______________ dollars; or b) a portion of my estate totaling ________ % thereof, or c) the following described real estate or personal property ________________________________ to be used by said school at its discretion. Residual Bequests All (or ______ %) of the residue of my estate, both real and personal property of whatever kind and wheresoever situated, which I may own or have the right to dispose of at the time of my death, I give, devise, and bequeath to Woodberry Forest School, Woodberry Forest, Virginia, to be used by said school at its discretion. Codicil to existing Will: example #1: I give to Woodberry Forest School,
Woodberry Forest, Virginia, the sum of ______ dollars ($______). or example #2: All the rest, residue and remainder of my estate (my residuary estate) I devise and bequeath as follows: _______ percent (_____%) to Woodberry Forest School, Woodberry Forest, Virginia.
Charitable Trusts A charitable trust, also known as a split interest trust, is any trust created, either during your lifetime or at death, that has a charitable beneficiary or a charitable remainder. Charitable Lead Trust A charitable lead trust pays a fixed annuity or a variable amount to Woodberry Forest School for a specified number of years, with the trust principal reverting to you or your family when the trust ends. Charitable Remainder Trust A charitable remainder trust is an irrevocable trust in which you transfer cash or property to a trustee and, in return, the beneficiaries receive a fixed annuity or a variable amount from the trust for life or a specified term not to exceed twenty years. When the trust terminates, the assets remaining in the trust will be transferred to Woodberry Forest School as the charitable remainder beneficiary.
Charitable Gift Annuity A charitable gift annuity is a simple contract between you and Woodberry Forest School whereby you make an irrevocable transfer of cash or property to the school. In return for the contributed property, Woodberry Forest agrees to pay a fixed amount of money each year for the lifetime of one or two individuals.
Life Insurance Life insurance affords you the opportunity to make a gift at a sizeable face value for a minimal outlay of cash. You may donate an existing policy, either fully paid or partially paid, or a new policy. Simply name Woodberry Forest as a beneficiary of your policy on the beneficiary designation form.
planned gift information Woodberry Forest School Confidential I have included the Woodberry Forest School as a beneficiary of my trust or estate plan as follows and understand that this does not legally obligate me or my estate in any way: o Bequest (Will or Living Trust) o Retirement Plan o Charitable Trust o Life Insurance Policy o Other _____________________________________________________________________________________________________ The estimated value of my gift is $ ____________________________________________________________________________ I intend my gift to be used for (school, program, etc.) ___________________________________________________________ ______________________________________________________________________________________________________________
Name (please print) ________________________________________________________________ Class _____________________ Address ______________________________________________________________________________________________________ City/State/Zip ________________________________________________________________________________________________ Home Telephone ___________________________________ Business Telephone ______________________________________ Cell Phone ___________________________________________________________________________________________________ E-mail Address _______________________________________________________________________________________________
Signature __________________________________________________________________________ Date _____________________ Please return completed form, or direct inquiries, to: William R. Browning ’82 Teresa Smith Planned Giving Officer Development Assistant & Planned Giving Coordinator Woodberry Forest School Woodberry Forest School 117 Woodberry Station 117 Woodberry Station Woodberry Forest, VA 22989 Woodberry Forest, VA 22989 540-672-6058 | 540-672-6018 fax 540-672-6035 | 540-672-6018 fax william.browning@woodberry.org teresa.smith@woodberry.org