A planned gift to Liberty University School of Law becomes a legacy for future generations while creating immediate financial benefits for you.
The many benefits of planned giving include:
- Favorable income tax treatment
- Income for life
- Attractive rates of return
- Reduction of capital gains tax and estate taxes
Contact Us: (800) 543-5309
Typically linked to estate planning, planned giving is carried out with the assistance of a professional financial advisor or planned giving officer. Contact your financial advisor or a Liberty University planned giving officer at (800) 543-5309 for more information.
Types Of Planned Gifts
Charitable Gift Annuity
Because of its many benefits, charitable gift annuities are a popular type of planned gift. And you can designate your charitable gift annuity to directly benefit the Liberty School of Law.
Details for a charitable gift annuity include:
- Must be age 60 or older
- Income for life
- Immediate substantial tax deduction
- Partial tax-free income
- Minimum $5,000 annuity. No maximum amount.
- No “loads” or fees of any kind.
- Fixed rates of return that typically exceed interest paid on CDs and passbook savings accounts.
- Effective rates after taxes even higher
- Upon your death, the balance of your annuity becomes a gift to Liberty University School of Law
You can also use appreciated stock as the basis for a charitable gift annuity. This will give you significant tax advantages and generate an income for life at a good fixed rate of return.
Wills and Trusts
You can leave a bequest to Liberty University School of Law through a will or living trust in the form of cash, financial securities, life insurance, real estate, or personal property. There may be tax and/or other estate advantages to including the School of Law in your will or trust.
Contact your financial advisor or a Liberty University planned giving officer at (800) 543-5309 for more information.
Charitable Remainder Trusts
When a qualifying asset is transferred into a Charitable Remainder Trust (CRT), up to 100% of the capital gains tax is bypassed, and the donor is entitled to a charitable income tax deduction because the transfer represents an eventual gift to Liberty University School of Law.
A CRT makes regularly scheduled payments to an individual or family as a supplemental (typically higher return) income. A CRT can save current tax dollars, generate an increase in current income, and result in a substantial gift to the Liberty School of Law.
Gifts of Life Insurance or Retirement Plan Assets
You can declare Liberty University School of Law as the beneficiary of a life insurance policy by simply transferring ownership of the policy to the School of Law during your lifetime. When you do this, you will receive an income tax deduction based on the total amount of premiums paid.
You can make the School of Law the beneficiary of your life insurance policy at the time of your death. And your estate would be entitled to an estate tax deduction based on the value of the proceeds paid to Liberty University School of Law.
You can also declare Liberty University School of Law as the beneficiary of all or part of your retirement plan assets at the time of your death. Your estate will be entitled to an estate tax deduction based on the value of the assets paid to the School of Law.
Contact your financial advisor, attorney or call to speak with a Liberty University planned giving officer to set up either a gift of life insurance or retirement plan assets.
Gifts of Stock, Real Estate or Other Appreciated Assets
With a gift of appreciated stock to Liberty University School of Law, federal law allows you to receive a double tax benefit. Donating the stock itself, rather than selling the stock and donating cash, lets you avoid capital gains tax, and you still receive an immediate tax deduction for the fair market value of the stock on the date the gift is made.
Giving stock you have owned more than one year and a day and that has increased in value is a great alternative way to make a charitable donation to the School of Law while conserving your cash for other uses. It’s also a way to dramatically increase the amount of your gift.
A gift of real estate to the School of Law can have many personal benefits including a maximum tax deduction and avoidance of capital gains tax. Liberty University accepts gifts of real estate on a case-by-case basis.
A knowledgeable Liberty University planned giving officer can give you additional details of the advantages of a gift of appreciated stock or real estate.
A Liberty University planned giving officer is available at (800) 543-5309 for a free telephone consultation to help you determine which option may be best for you.