While you may transfer many of your assets through your will or living trust, a document called a beneficiary designation controls distribution of your retirement plans, life insurance policies, commercial annuities and a variety of financial accounts.
A deferred gift annuity provides fixed payments to you or others you name for life in exchange for your gift of cash or securities. The payments start on a date you choose that is at least one year after you make the gift.
A charitable remainder unitrust can help you maintain or increase your income while making a significant gift to Fairfield University. The charitable remainder unitrust is highly flexible. You can easily make gifts of assets that are not easily converted to cash using the unitrust. If your unitrust grows, your payments will grow too, providing a potential hedge against inflation.
You can set up a trust that makes annual gifts to Fairfield University. At the end of the trust’s term, the remaining assets will pass to you or your family. This type of gift offers income tax benefits or reduced gift and estate tax costs.
Donate your home, farm or a second home to Fairfield and receive an immediate income tax charitable deduction, while retaining the right to live in your home for the rest of your life. If you itemize your deductions instead of taking the standard deduction you could save significant income taxes.
The IRA charitable rollover is now permanent and is a terrific way to make a tax-free gift to Fairfield University using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).