Taking care of your loved ones is the first priority of any well-thought-out estate plan. But once you’ve provided for your family, how do you ensure that your ideals and your passions live on?
As part of a comprehensive financial plan, many alumni, parents and friends are having a major impact on Coastal Carolina University by creating gift plans that secure the University’s future while protecting their own interests. When you include CCU in your estate planning, you can specify how you want your gift to be used. Regardless of the method you choose, you can rest assured that your generosity will be felt on campus for years to come.
Meet the Coastal Planned Giving Advisory Council.
The following are some ways you may be able to meet your personal financial goals and leave a legacy of learning for future generations of CCU students. For more information about making a planned gift, please visit: coastal.giftlegacy.com
A bequest is a legal provision made by will or living-trust, through which you can name CCU as the recipient of a testamentary trust or a specific dollar amount, percentage or piece of property.
By naming CCU as a beneficiary of your retirement plan assets, such as your IRA or 401(k), you may reduce the size of your estate and potential income tax exposure to your heirs.
You can gift your property outright or use it to create lifetime income for you and your loved ones. By entering into a retained life estate arrangement, you deed the property to CCU now and retain the right to life occupancy for yourself, your spouse or other beneficiaries.
By making CCU the owner and beneficiary of a life insurance policy, you may be eligible to receive a federal income tax deduction.
In return for a gift of cash or appreciated securities, you receive a fixed annual income for yourself and/or another beneficiary. Not only will you receive a sizable charitable income tax deduction, but a portion of your quarterly income payments will be tax-free. If funded with appreciated securities, the capital gains tax may be reduced.
Charitable Remainder Trusts
These trusts can be established with gifts of cash or appreciated property, such as real estate or stock. You and your designated beneficiaries receive income of at least 5 percent for life or for a term of years. The annuity trust provides a fixed dollar amount yearly; the unitrust pays a variable income, based on an agreed fixed percentage of the trust’s market worth, valued annually.
IRA Charitable Rollover
If you are at least age 70½, you can roll over up to $100,000 from your IRA to a charity. You won’t be taxed on the transfer and it counts toward your required minimum distribution.