Gift Planning at a Glance
This summary chart will give you a quick overview of many of the planned giving options available to you. Please keep in mind that your individual circumstances need to be considered before taking any action. As with all tax and estate planning, please consult your attorney or estate specialist.
|If your goal is to: ||Then you can: ||And your benefits may include: |
|Make a quick and easy gift. ||Make an outright gift to Millikin University. ||An income tax deduction and immediate impact for us. |
|Avoid tax on capital gains. ||Contribute long-term appreciated stock or other securities. ||A charitable deduction plus no capital gains tax. |
|Defer a gift until after your lifetime. ||Put a bequest in your will (cash, specific property, or a share of your estate). ||Your donations are fully exempt from federal estate tax. |
|Receive guaranteed fixed income that is partially tax-free. ||Create a charitable gift annuity. ||Current and future savings on income taxes, plus fixed, stable payments. |
|Avoid capital gains tax on the sale of a home or other real estate. ||Explore donating the real estate to us, or selling it to us at a bargain price. ||An income tax deduction plus reduction or elimination of capital gains tax. |
|Avoid the twofold taxation on IRA or other employee benefit plans. ||Name us as the beneficiary of all or the portion of the remainder of the retirement assets after your lifetime. ||This plan lets you leave your family other assets that carry less tax liability. |
|Give your personal residence or farm, but retain life use. ||Create a charitable gift of future interest, called a retained life estate. ||You may enjoy tax advantages plus use of the property. |
|Make a large future gift with little cost to you. ||Contribute a life insurance policy you no longer need. ||Current and possibly future income tax deductions. |
|Secure fixed payments for life while avoiding market risks. ||Create a charitable remainder annuity trust. ||This plan can confer tax benefits and often boosts your rate of return. |
|Give income from an asset for a period of years but retain the asset for yourself or your heirs. ||Create a charitable lead trust. ||Asset is returned to the donor or heirs. This plan can result in federal estate tax savings and income tax deductions for the donated income as well as a substantial charitable gift. |
|Secure, fixed payments for life with a hedge against inflation over the long term. ||Create a charitable remainder unitrust. ||Variable payments for life plus tax benefits. |
|Make revocable plans for a gift after your lifetime. ||Name us as a beneficiary of assets in a living trust. ||Full control of the trust terms for your lifetime. |
Please note, individual financial circumstances will vary. The information on this site does not constitute legal or tax advice. Donor stories and photographs are used with permission and are for purposes of illustration only. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only. Use of this site signifies your agreement with the terms of the privacy statement. The content in this Planned Giving section has been developed for Millikin University by Future Focus. Please report any problems to webmaster.