Estate and Planned Giving
It is important that we all consider the impacts we have on other people both during
our life and after. You can make a difference and it may be easier than you think
to leave a legacy.
Through proper estate planning, you may save your estate significant taxes and still
arrange to provide for the people and institutions you care about after you are gone.
Please think about these possibilities and consider including McKendree in your will.
Bequests: Gifts through a Will or Living Trust
If you do not have a will or trust, decisions about who is to receive your assets
will be made by the state, which may result in a higher tax burden and you may not
see those assets distributed as you would wish.
A will or trust with a bequest to McKendree reduces your taxable estate and may give
your estate an income tax deduction. By letting the Office of Development, Alumni
and Parent Relations know about your plans, you can become a member of the Old Main
Legacy Society and be recognized now for your future gift.
Life-Income Gifts/Charitable Gift Annuities
Through a Charitable Gift Annuity you can give cash, securities or other property
to McKendree and receive an income for life for yourself and/or another person immediately
or at a future date.
A Charitable Remainder Trust enables you to contribute securities or other property
to a trust and receive an income for life for yourself and others. Since there is
no capital gains tax on the transfer into the Charitable Remainder Trust, you will
earn income on the appreciated value of the assets and receive an immediate income
tax deduction based on the value of the gift.
If you make McKendree the beneficiary of an IRA or other retirement plan, your heirs
can avoid income and estate taxes on the dollars contributed after your death. We
would be happy to speak with your plan administrator to learn the steps needed to
arrange this type of gift.
Through a Charitable Lead Trust, a stream of income is distributed to the University
for a term of years. As the trust donor, you determine the period of time. At the
end of that period, the assets in the trust are returned to you or your heirs. The
Charitable Lead Trust provides significant support to the University and valuable
tax savings to you.
You can make McKendree the beneficiary of a life insurance policy you own. You can
receive a tax benefit if you make the University both the owner and beneficiary of
the policy.
