Planned Gift Vehicles

Deferred gift vehicles may offer alternative while achieving tax and other benefits.

Listed below are brief explanations and benefits of the various ways to give that are accepted by Gilman School. These are meant as a guideline only; please confer with your financial or tax advisor to determine the best vehicle for your individual situation.

Bequests/Living Trust

A gift of cash, securities, or real property, made upon the donor's death through provisions in his/her will or living trust. The amount of the gift is exempt from estate taxes.

Pooled Income Funds

An irrevocable gift of cash or securities is combined with other gifts from Gilman alumni and friends, and invested to provide you and your designated beneficiary with a competitive and variable income for life. You will receive a charitable tax deduction for a portion of the gift in the year it is made, with five additional years to take any unused deduction. If the gift is funded by appreciated securities, capital gains taxes may also be avoided. Again, you may also reduce your estate tax exposure.

Retirement Assets

(IRA, 401k, Keogh, SEP, or other qualified retirement plans) Designation of Gilman School as the beneficiary of the donor's qualified pension plans, IRA, Keogh, commercial deferred annuities, or employee stock options. Retirement assets are among the most tax burdened assets you can own. This method allows you to use the assets during your and your spouse's lifetime, while providing the opportunity for you to make a large future gift and reduce your taxable estate.

Charitable Lead Trusts

An income-producing asset placed in a trust, the income of which is contributed to Gilman School for a designated period of time, after which the trusted asset is returned to the donor or non-charitable beneficiaries named by the donor. You may gain immediate tax advantages or may reduce gift or estate taxes when assets are passed to children or grandchildren.

Charitable Remainder Unitrusts and Charitable Remainder Annuity Trusts

An irrevocable transfer of assets to a trust, naming Gilman School as the only ultimate beneficiary or as one of several qualified charitable beneficiaries. You or someone you designate will maintain an income interest in the trust, and Gilman receives the remainder interest. A unitrust pays the income beneficiary a variable life income based on a fixed percentage of trust's value each year. An annuity trust pays the income beneficiary a fixed life income based on a fixed percentage of trust's value on the date of gift. A current charitable deduction for the present value of either gift is available in the year of gift, and is based on IRS actuarial tables. You may make additional gifts to the principal of the charitable remainder unitrust in future years. An annuity trust however, cannot receive additions. If the donated assets consist of appreciated securities, capital gains taxes may be avoided. Assets gifted to a charitable remainder trust will also reduce your estate tax exposure.

Gifts of Real Estate

Almost any type of real property- from personal or vacation homes and commercial buildings to farms, ranches, or undeveloped lots. The property may be donated outright; serve as the corpus of a trust; or, if it is the donor's personal residence, the donor and/or spouse may gift the property with the right of lifetime tenancy. An immediate tax deduction is available and capital gains taxes may be avoided. These assets also make intelligent options for bequests and also serve to reduce estate tax exposure.

Gifts of Life Insurance

Designation of Gilman School as the owner and beneficiary of a policy. Gilman School encourages the use of fully paid insurance policies as charitable gifts for campaign purposes. The cash surrender value of the paid policy at the time of gift is deductible to the donor.

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