Major Gift Opportunities
Bequests, Planned and Deferred Gifts
For information on bequests, deferred and planned giving, please contact the Office of Alumni Relations and Development at (812) 855-9700. One of our Development Officers will be happy to assist you and/or arrange a meeting.
Outright Bequests
After providing for family, friends, and others, many graduates and friends include a gift to the School of Law in their estate plan to continue their lifetime support. These gifts take several forms:
- Bequests of a stated dollar amount
- Bequests of a percentage of the estate
- Specific bequests of property
A gift can be residual—taking effect after all other provision of your estate plan have been satisfied. Or a gift can be contingent—taking effect if other provisions cannot be satisfied.
The Indiana University School of Law—Bloomington recognizes that your bequest intentions are a very personal matter and that you may understandably wish to keep them confidential. However, if you are willing to inform us of your estate planning intentions regarding the Law School, it will assist us in our current and future planning. Additionally, you will be recognized by the University's Arbutus Society when you include the Law School in your estate plan.
Gifts of Retirement Assets
Many people have provided for their retirement income with investments in IRAs, pension and profit-sharing plans, and other savings vehicles. Retirement plan assets can be subject to severe tax burdens when left outright to heirs. These same assets can be left to the Law School virtually tax free. Indeed, under some circumstances a gift of such assets to the Law School can permit you to leave more to your heirs than otherwise possible.
Charitable Remainder Trusts
A charitable remainder trust saves income and estate taxes while providing an important gift to the Law School. With a charitable remainder trust, you or your designates receive a distribution at least annually for life or a term of years, and the remainder interest then passes to the Law School.
A charitable remainder trust provides an immediate charitable income tax deduction. Also, gifts to a charitable remainder trust avoid capital gains taxes on the sale of appreciated assets. Establishing a charitable remainder trust can be especially advantageous if you have assets, such as appreciated stocks, that have been generating little or no income.
There are two types of charitable remainder trusts. Each can be established for one or more lifetimes or for a specified term.
- A charitable remainder unitrust provides for a distribution of a sum certain (commonly 5% to 6%) that will fluctuate annually based on a yearly determination of the fair market value of the trust assets.
- A charitable remainder annuity trust calls for a specified distribution from the trust of at least 5% of the initial fair market value of the assets in the trust.
Charitable Lead Trusts
A gift to a charitable lead trust provides an immediate income tax deduction and other tax benefits, while providing current funds to the Law School. When you establish a charitable lead trust, the Law School will receive payments during one or more lifetimes or a specified term. At the end, the assets pass outright or in trust to you or other non-charitable beneficiaries. (You will notice, this is essentially the mirror opposite of a charitable remainder trust).
Charitable lead trusts are particularly beneficial for your estate plan if you have assets with great appreciation potential. Many people use these trusts to pass very valuable properties to children and to grandchildren with tremendous tax advantages.
Gifts of Tangible Personal Property
Gifts of tangible personal property, like furniture, art work, jewelry, etc., allow our alumni and friends to support the Law School with unique gifts. Gifts of tangible personal property that (1) are legitimately appraised and (2) satisfy the "related use" standard will also qualify for a tax deduction.
Annuity Trusts
Establishing an annuity trust gives you an opportunity to make a gift to the Law School, and at the same time continue receiving annual payments from the donated assets (either for life or for a period of years-up to 20). Because of this, annuity trusts are a great way to avoid capital gains taxes, help the Law School, and provide a stable source of income for you or your beneficiaries.
Charitable Gift Annuity
One of the most common and popular ways to make a planned gift is with a charitable gift annuity. In exchange for an irrevocable gift, the Foundation agrees to pay one or two annuitants a fixed dollar amount each year for life. The amount is based on life expectancy: the older you are at the time of the gift, the greater the amount can be. The general resources of the Foundation guarantee the payments.
For more information on deferred and planned giving, please contact the Office of Alumni Relations and Development at (812) 855-9700. One of our Development Officers will be happy to assist you and/or arrange a meeting.