Planned giving is the integration of personal, financial, and estate planning objectives with philanthropic dreams and charitable goals. The idea is to maximize efficiency and enhance benefits as you support Fisk University. Planned gifts consist of gifts made during your lifetime and that may come to the University both during and after your lifetime. Planned gifts include, but are not limited, to making gifts utilizing wills, trusts, life insurance, marketable securities, real estate, and IRAs or retirement plan assets.
For gift scenarios, financial resources and news, calculators, interactive learning opportunities, or to sign up for our e-newsletter, click here.
Giving through your will in the form of a bequest is a popular planned gift strategy. Including Fisk as the beneficiary of your will may provide estate tax reduction and may allow you to make a more sizeable gift than you otherwise would have considered. As you plan your will, please consider making Fisk the beneficiary of part or all of your estate. Such gifts qualify for the unlimited charitable deduction at death and should be considered as a viable part of your overall estate planning process.
If you would like more information, or have decided to make a bequest and include Fisk as a beneficiary of your will, please click here for sample bequest language for your advisor to review.
One way to greatly increase the value of your gift to Fisk is to use the leverage of life insurance. You may make a gift of an existing policy or name Fisk as the beneficiary. Some donors make annual gifts to pay premiums on life insurance policies owned by and payable as beneficiary to Fisk. Life Insurance is a unique way to leverage a small premium payment into a typically much larger gift at your death.
For more information on how to use life insurance in your overall gift planning, click here.
IRAs and Retirement Plans
These assets are often times more valuable to use as a funding source than cash or other assets. Because most retirement plans and IRAs have not been taxed during the contribution and accumulation period, they are usually subject to both income and estate taxes. Giving IRA or retirement plan assets may provide significant tax advantages to you and your family. Using IRA assets to make a gift, for example, may reduce or eliminate income taxes on the use of those funds during your lifetime and bypass estate taxes at your death.
To learn more about how to use these assets in gift planning or to see a video on the charitable IRA rollover, click here.
Once you make your planned gift, be sure to let us know. We’ll add you to the growing roster of our 1866 Legacy Circle, which recognizes those who make gifts through bequests, trusts, and annuities. You will be in a special listing of the university’s Honor Roll of Donors, receive the Legacy Society newsletter, special event invitations, and more.
For more information on Planned Giving, please contact Shelia Smith.