You may be in a position to give now, or your situation may suggest that you consider one or more of the gift-planning tools listed below.
The Marriott School, along with your family’s professional advisors, can help you determine a course that best meets your needs.
Your gift of cash, securities, real estate, or other assets can make a meaningful difference in someone else’s life and potentially bring you tax and other benefits.
- Personal Residence
- Commercial Real Estate
- Unimproved Property
- Retirement Plan Assets
- Farm or Ranch*
- Patents, Royalties, Copyrights*
- Life Insurance Policy with Cash Value*
- Collectibles and Other Tangible Personal Property*
- Equipment or Inventory*
*For additional information about gifting these items, please contact LDS Philanthropies at BYU.
Plan a Gift Where I Retain an Income
Often referred to as gifts that give back, each type of life income gift can be an integral part of your overall financial plan. Each can provide income tax and estate tax advantages. The life income stream to you or your loved ones can be tailored to your individual needs. Our professional staff can answer questions about drafting documents, choosing a trustee, and determining what assets are appropriate for use in each type of life income gift.
- Charitable Remainder Uniturst (CRUT)
- Charitable Remainder Annuity Trust (CRAT)
- Charitable Gift Annuity (CGA)
- Deferred Charitable Gift Annuity (DCGA)
- Pooled Income Fund (PIF)
Plan Now for a Gift at My Death
A carefully prepared will or living trust as part of your estate plan is the best way to ensure that your heirs are provided for in the way that you intend. It is also one of the simplest ways to make a gift while keeping all your assets available during life in case your circumstances and needs change. Your professional advisors and our professional staff can assist you in proper preparation of the appropriate documents.
- Revocable Living Trust
- Testamentary Trust
- Life Insurance in a Gift Plan
- Retained Life Estate Deed using a Personal Residence or Farm
Plan a Gift from a Larger Estate
Planning for the larger estate can be both complex and fulfilling. By necessity, it involves the help of your financial and legal advisors to address specific needs relating to your financial position and the creation of your family legacy. Proper planning can also provide ways for you to create a “social legacy,” a way of influencing humanity and passing to your heirs the values that made you what you are. Several charitable tools are available to assist you in the creation of your social legacy and can also provide great financial benefits.