Making charitable gifts is an art; it's a creative process that needs to adapt to your changing needs and wishes. Planning your gifts allows you to maximize your personal objectives, provide support for the programs that mean the most to you, and minimize the after-tax cost.
Choosing the right asset and gift arrangement, you can expect to receive some or all of the following benefits.
- Have a major impact upon Nova Southeastern University and its students
- Receive an income-tax deduction
- Avoid capital gains tax on gifts of long term appreciated property
- Obtain a stream of income for life for yourself or others
- Increase spendable income
- Eliminate estate tax on property passing to charity
There are various gift planning methods that you can use to support Nova Southeastern University. Our gift planning staff can help you to create a strategy-tailored to your needs.
Bequests
A charitable bequest enables you to keep control of your assets during your lifetime and make a gift to the university when you're gone. You may be entitled to an estate tax deduction up to the fair market value of the assets bequeathed to NSU.
Charitable Gift Annuity
A contract between you and Nova Southeastern University, Inc., this charitable gift agreement provides a fixed annual income payment for your lifetime and/or the life of another income beneficiary. Charitable gift annuities may be designed to provide immediate income or to defer the income payments to a future time. This simple gifting method may enable you to receive an immediate income tax deduction based on the remainder value of your gift; part of the income may be tax-free to the income beneficiary.
Charitable Remainder Unitrust
This arrangement provides a fixed percentage of the trust assets, revalued yearly. A unitrust can be for the life of one or more individuals or for a period of years, up to twenty years. You may be entitled to an income tax deduction based on the remainder value of your gift. Additionally, a unitrust may defer capital gain taxes on the sale of appreciated assets later held and sold by the trust
Charitable Annuity Trust
This arrangement provides fixed income for any number of beneficiaries. Like the unitrust, it can defer capital gain taxes on appreciated assets sold by the trustee. As with the unitrust, the annuity trust can be for the life of one or more individuals or for a specified term up to twenty years.
Charitable Lead Trust
Upon placement of assets into this trust, the trust will pay income to the university for your lifetime, or a term of year. After expiration of the trust's term, the trust principal is either returned to you or distributed to designated beneficiaries. This arrangement is an excellent method to transfer assets to your heirs while minimizing gift or estate taxes.
Retained Life Estate
In this arrangement, you transfer a home or farm to NSU while you retain the rights to its use for your lifetime. A life estate may entitle you to an immediate charitable income tax deduction in the year of the gift.
Life Insurance
This arrangement involves the gifting of either a paid-up policy or a new or existing policy. You would designate NSU as owner and beneficiary of the insurance policy. Upon gifting a paid-up policy, you may receive an immediate charitable income tax deduction. If you were to gift a new or existing policy, you may receive a charitable income tax deduction for the replacement value of the policy and each future premium payment made by you.
Retirement Plan Assets
There are significant tax implications for retirement plan assets after your death. In order to avoid some of these taxes, you could designate the university as beneficiary of any remaining retirement principal after your lifetime.
For more information, contact:
Eleanore Levy
Director of Gift Planning
(954) 262-2111, or (800) 541-6682, ext. 2111