A planned gift is any gift that requires the assistance of a professional staff person or the donor's advisors to complete, or a gift that is carefully considered by a donor in light of estate and financial plans. The gift can be for any amount and for any purpose, whether current or deferred.
There are several ways to make a planned gift.
- Bequests - The most frequently used planned gift option is a bequest in your will. Charitable bequests are fully deductible for estate tax purposes.
- Life Income Gifts - Easily established, trusts and annuity gifts can offer you an immediate tax deduction and lifetime income.
- Gifts of Personal Residence or Farm - Such gifts can provide you with an immediate tax deduction as well as lifetime use of the property.
- Charitable Lead Trusts - Generation-skipping provisions allow assets to pass to your grandchildren after providing income to the University for a period of years.