Life Income Gifts
Convert assets to income for you and Michigan Tech
Imagine you are an apple grower who wants to make a charitable gift. Afer considering many possibilities, you come up with the perfect plan: you will donate part of your apple orchard, but continue throughout your lifetime to receive the apples that grow on those trees.
That is a life income gift – an effective way to contribute assets to the Michigan Tech Fund while still keeping an income for yourself and others. The Michigan Tech Fund offers a full range of life income gifts. Selecting the best option depends on your age, assets, and income objectives. The three main types of life income gifts are:
Benefits of Life Income Gifts
- Immediate income tax savings
- No immediate capital gains tax on gifts of appreciated property
- May increase your current income by converting low-yield assets
- Can diversify how large holdings of assets are invested
- Removes assets from your taxable estate
- Ensures assets are professionally managed
- Remaining assets of the trust will provide long-term benefits to Michigan Tech
McNair Society
The McNair Society recognizes those who have left a legacy for Michigan Tech by providing specific bequests or planned gifts through their estates. This giving society is named for Fred McNair, Michigan Tech's president from 1899-1924. Through McNair's vision and commitment to leave a legacy for future Michigan Tech students, the fledgling college grew and prospered during his presidency.
If you would like more information about the McNair Society or are considering including the Michigan Tech Fund in your estate plans, please contact Eric Halonen (ehalonen@mtu.edu), (906) 487-3325. If you have already included the Michigan Tech Fund in your plans and would like to be recognized, please let us know. We would be pleased to honor you as a member of the McNair Society. Please contact Eric Halonen or fill out the McNair Society Declaration of Intent form here on our website and return it to the Michigan Tech Fund (address) to Mr. Halonen's attention.
View the McNair Society Declaration of Intent Form