Planned giving can be one of the most fulfilling ways you can support Anderson College. Estate gifts can provide benefits for you, your family, and Anderson College. There are many different ways to make a planned gift. A few are listed below.

To find out more information or have a confidential discussion regarding planned giving to Anderson College contact

Dean Woods
Vice President of Institutional Advancement

Bequests

Life Income Gifts

Life Insurance Gifts

Retirement Plan Designations

Real Estate Gifts

Which gift matches your goals? There is a gift for every objective. And no matter what or how you give you will be helping to secure the future of Anderson College.

 

WAYS TO MAKE A GIFT TO ANDERSON COLLEGE

 

Bequests

The most common and simplest type of planned gift is a bequest established in your will or living trust. Its flexibility provides you with the ability to adjust the terms of the gift as your life circumstances change. Your bequests may include:

• Anderson College is included in your will for a specific dollar amount or specific assets.

• Anderson College is included in your will for a certain percentage of your estate

• Anderson College is included in your will for the remainder of your estate, after you have provided for family, friends and other charities.

• Anderson College is included in your will as a contingent beneficiary should one or more of your heirs not survive you.

You can designate a specific use for the funds you leave to the college in your will or allow the college to use the funds in the area of greatest need. For additional information seek the advice of your financial advisor or contact Dean Woods.

Life Income Gifts

A life income gift is created when you irrevocably transfer property in exchange for which you and/or others you designate receive income, usually for life. While there are several different types of life income gifts they all share the following common advantages.

• An immediate income tax deduction
• Estate tax savings
• Avoidance of all or part of the capital gains taxes otherwise due upon the sale of the appreciated asset
• An attractive income stream
• The satisfaction of having made a “legacy” gift to Anderson College

Three of the most common life incoming gifts offered by Anderson College are described below.

Charitable Gift Annuities

A gift annuity is a contract between you and Anderson College that guarantees you and/or other designees an income stream for life or a term of years. The income stream can begin as soon as the gift is completed. However, if you don’t currently need the income or want a larger income tax deduction, you may elect to defer the income until a future date. At the end of the designated lifetime(s) or years, the remainder will be used by Anderson College in accordance with your wishes.

Because the nature of the gift annuity allows for a fixed payment amount for life, gift annuities are appropriate for donors who want to make a significant gift to Anderson College, but are concerned with maintaining a life income stream that can be relied upon.

Charitable Remainder Trusts

In a charitable remainder trust the donor makes an irrevocable contribution of cash, securities, or real estate to a certain type of trust. In exchange, the trust will pay you and/or your designees an income stream for life or for a period of years. At the end of the trust, the remainder will be used by Anderson College in accordance with your wishes.

Charitable Lead Trust

A charitable lead trust is accomplished when you irrevocably transfer property to a trust that presently pays a stream of income to Anderson College for a period of years or for the lifetime of the named individuals or for a combination of the two, with the remainder interest of the trust passing to any non-charitable beneficiary you choose. Usually, the beneficiary is a younger family member like children or grandchildren.

All charitable lead trusts provide an estate or gift tax deduction. Charitable lead trusts are often used to transfer significant assets to family members at a future date with the intent of minimizing large estate or gift tax consequences. Charitable lead trusts may also be used to reduce income taxes in years that you might have unusually high income that places you in a higher tax bracket.

When considering making a life income gift we urge you to seek the advice of your financial advisor. If you would like to have a proposal for a life income gift please contact
Dean Woods

Life Insurance Gifts

Life Insurance may be used in a variety of ways to make a charitable gift to Anderson College.

• For policies that are paid up (where no more premiums are due) you may transfer ownership of the policy to Anderson College and name Anderson College as the beneficiary or co-beneficiary. In most cases, you will receive an income tax deduction equal to the cash surrender value of the policy.

• For policies with premiums still to be paid, when you give the policy to Anderson College and name the college the beneficiary, you will receive an income tax deduction roughly equal to the cash surrender value of the policy plus a portion of your last premium payment. If you continue to make the premium payments, you can enjoy tax deductions for those payments.

• If your employer provides you with group term life insurance and pays the premium you can name Anderson College the beneficiary or co-beneficiary of that policy and avoid paying taxes on the premium you would otherwise incur.

• Finally, although you will not obtain a charitable deduction without transferring ownership to Anderson College, you can name the college the beneficiary, co-beneficiary, secondary beneficiary or contingent beneficiary of any life insurance policy you own.

A gift of life insurance provides you with an opportunity to make a significant gift to Anderson College with little expenditure.

When considering making gifts of life insurance we encourage you to seek the advice of your financial advisor. For further information on gifts of life insurance, please contact
Dean Woods

Retirement Plan Designations

Anderson College may be designated as the first or second (after the spouse) beneficiary of a retirement plan, including any individual retirement accounts you may own. This enables the donor to avoid the taxes imposed upon retirement accounts. These taxes can be considerable, however, they can be avoided if the assets from the retirement account passes to Anderson College. Also, because the assets grow tax-free until they are withdrawn the ultimate gift to Anderson College may be more substantial than from other deferred gifts that are available.

When considering making a gift of retirement plan assets we encourage you to seek the advice of your financial advisor. For additional information, please contact Dean Woods

Real Estate Gifts

A gift of real estate can be either in full or with a retained life estate. For a gift of real estate you get an immediate income tax deduction for the charitable value of the gift plus there is no capital gains tax due.

When you make a gift of your residence, farm or vacation home, you can continue to live in your home or use your property for your lifetime and that of your spouse. This type of gift is especially good for those who have property that is fully paid off and has appreciated in value.

For gifts of real estate we encourage you to consult with your financial advisor or
Dean Woods.