Gift Planning

By Will

You can secure a charitable estate-tax deduction, through various types of bequests, for the value of your gift to UIC. You include a bequest provision in your will or revocable trust, which UIC will receive, via UIF, upon your death. The funds are under your control throughout your lifetime and your bequest or designation can be changed at any time.

For Income

Do you want to support UIC but worry about having enough income for yourself and your loved ones? Life-income gifts, such as gift annuities and charitable remainder trusts, can provide donors with an income stream, significant tax savings, and the satisfaction of supplying UIC with vital long-term resources.

Charitable Lead Trust

Transferring property to UIC and individuals you wish to benefit is not always an either/or proposition. With careful planning you may be able to arrange your transfers to accomplish more than one objective. For example, if you have assets that are appreciating, children who may want to start a business in the future, and a desire to assist UIC, you may wish to consider creating a charitable lead trust.

Retained Life Estate

You can deed your home or land to UIC and receive an immediate income tax deduction. Yet, you can continue to live in and/or use these assets for the remainder of your life.

Retirement Plans

You may consider using retirement-plan benefits to make a significant gift that will support UIC. Because of the estate- and income-tax treatment of retirement-plan benefits, the cost of your gift to your estate and heirs is often relatively small. And during your lifetime a rollover IRA gift can reduce your taxes significantly while benefiting UIC and its students, now.

Assets

The simplest way to support UIC is through cash gifts. But creative gifts of assets can include stocks, bonds, and property (real estate and personal property such as artwork). These can not only provide you with charitable deductions, but can also offer additional tax savings.

Other Gift Planning Strategies

Deferred, Irrevocable Life Income Gifts

 Charitable Remainder Annuity Trust

  1. Tax deduction for charity’s remainder interest
  2. No initial capital gains tax

Charitable Remainder Unitrust

  1. Tax deduction for charity’s remainder interest
  2. No initial capital gains tax

Charitable Gift Annuity

  1. Tax deduction for gift portion
  2. Portion of income may be tax-free
  3. No initial capital gains tax

Other Irrevocable Gifts

Retained Life Estate

  1. Retention of ownership rights in personal residence, vacation home, or farm
  2. Tax deduction for UIC’s remainder interest in property
  3. Avoids capital gains tax

Charitable Lead Trust

  1. Trust principal reverts to donor or family members
  2. Allows for transfer of assets to family members at reduced tax cost

Deferred, revocable gifts

Bequest in Will/Trust

  1. Control over assets during lifetime
  2. Ability to establish legacy after lifetime
  3. Avoids estate tax

Retirement Accounts

  1. Estate and income tax deduction if UIC is beneficiary

Life Insurance

  1. Tax deduction for premiums paid on existing policy
  2. Tax deduction for cash/replacement value of paid-up policy
  3. Avoids estate taxes

Learn more about planned giving