By naming the Gaston College Foundation as a beneficiary in your will, you may obtain a charitable estate-tax deduction for the value of your bequest. You will also know that your generosity will support Gaston College for years into the future.
Last Wills and Testaments usually provide for assets to be distributed to loved ones. You can name the Gaston College Foundation as a contingent beneficiary should the primary beneficiary predecease you. The Foundation will receive the bequest only if the primary beneficiary is unable to receive it.
You may designate the Gaston College Foundation as the beneficiary of your IRA while providing life income to you and your heirs. Donors can also consider an IRA rollover gift to the Foundation, which may provide significant tax advantages depending upon the donor’s age.
You can also leave a legacy through a gift of life insurance. If an existing paid-up policy is gifted an immediate tax deduction for the value of the policy may be realized by the donor. By establishing a new policy whose premiums the donor pays as an annual tax-deductible gift, a donor may be able to make a substantially larger deferred gift than initially expected.