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 can support the Gaston College Foundation and still receive income for yourself or your loved ones through life-income gifts such as gift annuities and charitable trusts. They provide donors an income stream for life, significant tax advantages, and the knowledge of having left a significant giftsthat will impact generations of future students.
A gift annuity is a vehicle for you to make an irrevocable charitable gift to the Gaston College Foundation in exchange for a guaranteed lifetime income source for you or your loved ones. You will receive immediate tax benefits and the potential for increased current revenue from investment holdings. What better way can you augment your personal income while helping to meet the needs of Gaston College students into the future?
A charitable remainder trust is a tax-exempt irrevocable trust designed to reduce the taxable income of individuals by first dispersing income to the beneficiaries of the trust for a specified period of time and then donating the remainder of the trust to a designated charity. Consider making the Gaston College Foundation your charity of choice.
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.