Decide your Goals
Deciding your goals is the best way to determine which planned giving method will benefit you the most. Listed below are nine goals common to most contributors. If you have any questions or concerns, let us know. Contact Eric Halonen at ehalonen@mtu.edu or 906/487-3325.
Make an Outright Gift |
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| Suggested Options | Cash remains the simplest form of outright gift. Gift of appreciated property creates charitable deduction for full market value and bypasses capital gains tax. |
| Benefit for You | Maximum income tax deduction and immediate impact on Michigan Tech. |
| See Pages | Cash Gifts, Appreciated Securities |
Maintain flexibility and control |
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| Suggested Options | Charitable bequest of property or portion of your estate through a will or revocable trust reduces potential estate tax. There may be significant tax advantages in a charitable bequest or beneficiary designation of retirement plan assets. |
| Benefit for You | A revocable gift allows you to maintain control of assets during your lifetime and may reduce estate tax. |
| See Pages | Charitable Bequests, Retirement Plan Assets |
Convert property to fixed income |
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| Suggested Options | Gift to an annuity trust or gift annuity made with cash can provide you or others with fixed income payments while reducing income and estate tax. Annuity trust or gift annuity created with appreciated property can also bypass capital gains tax. |
| Benefit for You | Immediate income tax savings, fixed income for life, current income may be increased, possible bypass of capital gains tax. |
| See Pages | Life Income Gifts |
Convert property to variable income |
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| Suggested Options | Gift to a unitrust or pooled income fund made with cash can provide you or others with variable income payments while reducing income and estate tax. Unitrust or pooled income fund created with appreciated property can also bypass capital gains tax. |
| Benefit for You | Immediate income tax savings, variable income for life, current income may be increased, possible bypass of capital gains tax. |
| See Pages | Life Income Gifts |
Make a sizeable gift with modest investment |
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| Suggested Options | A series of smaller outright gifts can be invested in a permanent endowed fund, which will have a lasting impact on Michigan Tech. Gift of life insurance policy allows leverage of premiums into a larger death benefit. |
| Benefit for You | A small investment can, over time, have a large impact on Michigan Tech. |
| See Pages | Cash Gifts, Appreciated Securities |
Provide for heirs (principal) |
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| Suggested Options | Charitable lead trust makes gifts to benefit Michigan Tech for a period of years after which assets can be returned to your heirs at greatly reduced tax cost. Tax savings and possible increased income from life income gift can fund life insurance to replace those assets given to the Michigan Tech Fund. |
| Benefit for You | Benefit Michigan Tech and leave assets to heirs with reduced estate and gift tax. |
| See Pages | Life Income Gifts, Lead Trust |
Provide for heirs (income) |
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| Suggested Options | You can arrange a life income gift to provide income to your heirs, either now or only upon your death. |
| Benefit for You | Provide income to your heirs while you receive tax benefits and control the ultimate use of assets for the benefit of Michigan Tech. |
| See Pages | Life Income Gifts |
Make a gift of real estate |
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| Suggested Options | Make an outright gift for maximum deduction. Make a charitable bequest of real estate to maintain control during your lifetime. Use real estate to fund a unitrust with income for you or others while bypassing capital gains tax. Use life estate gift to gain tax benefit now while continuing to use your home or farm. |
| Benefit for You | Convert appreciated real estate into support to Michigan Tech. |
| See Pages | Real Estate |
Donate art or other items related to the mission of Michigan Tech |
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| Suggested Options | Make an outright gift for immediate benefit to Michigan Tech. Make a charitable bequest of property to maintain control during your lifetime. |
| Benefit for You | Outright gift creates immediate income tax deduction, estate gift may reduce estate taxes. |
| See Pages | Charitable Bequests, Personal Property |