Designate and Donate — Jointly Held Accounts

You can still designate and donate to our nonprofit, even if you have a loved one as a joint account owner.

How It Works

  • Contact your bank to complete or update your P.O.D. (Pay on Death) form for your checking and savings accounts.
  • Designate Hotchkiss to receive the remaining account balance after the joint account owners have passed away.

Benefits

  • Receive a charitable deduction that will reduce any estate or inheritance taxes.
  • Hotchkiss receives the balance of the accounts after the joint account owners have passed away.

Jointly Held Accounts

You may have made a loved one a joint-owner of the account. The joint-owner may make deposits and withdrawals during your lifetime. The joint owner may also have "rights of survivorship," meaning that he/she will automatically inherit the account when you pass away. Even if you have a joint account, you should complete the P.O.D. form to assure that the bank knows what to do with the remaining assets when both account holders have passed away. This step will also assure that the account may not become part of a time-consuming and costly probate process.


Plan-a-Gift ™

Our interactive Plan-a-Gift™ will recommend the best gift plan to meet your individual needs based on your age, goals and assets, and will help The Hotchkiss School at the same time.

Get Started

Contact Us

Planning your estate and legacy for future generations, including your charitable interests, takes careful evaluation. I am here to help and will gladly discuss your needs, goals, and possible gift options.

Brent Alderman Sterste, Director of Gift Planning
baldermansterste@hotchkiss.org
(860) 435-3263
11 Interlaken Road
Lakeville, CT 06039-2141