You can make a much more significant gift to benefit Tuskegee University than ever imagined by exploring the many ways in which planned giving may apply to your own situation.
Potential Benefits For You Include:
- Receive the satisfaction of knowing that you could make a much more generous contribution to Tuskegee University than you ever imagined possible while still providing for you and/or your loved ones.
- Provide increased lifetime income for you and/or others whom you may wish to benefit.
- Utilize for your benefit, appreciated assets to produce greater annual income without the penalty of an immediate capital gains tax.
- Reduce income taxes through increasing your deductions for charitable giving.
- Contribute significantly to Tuskegee University's continuing legacy of Knowledge, Leadership and Service.
- Qualify immediately for membership in Tuskegee University's Heritage Circle with a planned gift of $10,000 or more.
Some of the major methods of planned giving include Will Bequests, Life Insurance, Charitable Gift Annuity, Charitable Remainder Trusts, and Charitable Lead Trusts.
Wills / Bequests:
The most common and simplest form of planned gift is a bequest established in your Will. It is flexible and provides you with the ability to make adjustments as your life situation changes. Your bequests to Tuskegee University may include:
- Tuskegee University is included in your will for a specific dollar amount or specific asset.
- Tuskegee University is included in your will for a specific percentage of your estate.
- Tuskegee University is included in your will for the remainder of your estate after all other costs and bequests have been honored.
The gift of life insurance gives donors the opportunity to convert a minimal investment into a major gift in the future. Life Insurance may be used in a variety of ways to make a major gift to Tuskegee University.
Life Insurance Options:
- You can give a fully paid-up policy. You may transfer ownership of the policy to Tuskegee University and name the University as the primary or co-beneficiary. In most cases you will receive an income tax deduction for the cash surrender value of the policy.
- You can give a policy on which you are still paying premiums. When you irrevocably assign the policy to Tuskegee University and name the University as the beneficiary, you will receive an income tax deduction for the approximate amount of the cash surrender value of the policy in the year of the assignment. You can continue to make tax deductible premium payments on the policy to cover future premiums on the policy.
- You can purchase a new policy naming Tuskegee University as the owner and irrevocable beneficiary. You can make tax deductible premium payments on the policy to cover future premiums.
When considering making a gift of life insurance, we encourage you to speak with your financial advisor.