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Planned Gifts
Life Income Gifts
A life income gift allows you to make
a significant gift to support cardiovascular research while receiving
an income for life. Benefits include state and federal tax deductions,
increased income from low-yield stock, and possible avoidance of the
capital gain tax on gifts of long-term appreciated property. You can
also name a second income beneficiary, reduce or eliminate the estate
tax on the assets given, and establish an endowed fund in perpetuity
at The University of Arizona Foundation in your name or in memory or
honor of another.
Options for donors and beneficiaries who
are age 50 or older
Charitable Remainder Trusts - These trusts are individually managed
either by The University of Arizona Foundation or by a trustee of your
choice. The minimum gift is $100,000.
Sum Unitrust - pays a fixed percentage
of trust assets revalued annually, producing a variable income, distributed
quarterly.
Sum Annuity Trust - pays a fixed
dollar amount quarterly, based on the initial value of the trust assets,
producing a stable income.
Gift Annuity - A fixed income is
distributed to the beneficiary quarterly. The payout rate varies according
to age. Tax-free and capital gain income may be available depending
on the asset used.
Options for donors and beneficiaries under age
50
With a minimum gift of $10,000, the deferred gift annuity pays a fixed
dollar amount quarterly, based on the age of the beneficiary and initial
value of the assets, producing a stable income. Income is deferred,
allowing the principal to build, for a period selected by the donor.
This is a flexible and effective retirement planning vehicle.
With a minimum gift of $100,000, the term-certain charitable remainder
trust allows the donor to make a gift using the same arrangements as
the trusts discussed above, but for a term of up to 20 years.
Please refer all questions about life income gifts to the Office of
Planned Giving. At your request a personal illustration can be prepared
that will detail benefits based on specific amounts and the beneficiaries'
ages. For further information, contact:
Ken R. Dildine, JD, CPA
Vice President for Planned Giving
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
Telephone: (520) 621-1993
email: plangift@al.arizona.edu
Charitable Lead Trust
This gift-planning vehicle allows you
to shield more of your accumulated wealth from gift and estate taxes
and make a current gift in support of the Sarver Heart Center. It is
one of the most powerful estate planning techniques available today.
Under this plan you would irrevocably transfer assets to a trustee and
provide that payments be made to support the mission of the UA Sarver
Heart Center for a certain number of years. Then the principal would
be distributed to your children, grandchildren or other heirs. The principal
passes to your heirs at greatly reduced gift- and estate tax rates and
sometimes escapes them altogether. For further information, contact:
Ken R. Dildine, JD, CPA
Vice President for Planned Giving
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
Telephone: (520) 621-1993
email: plangift@al.arizona.edu
Real Estate With Retained Life Use
You may give the University of Arizona Foundation a personal residence
or farm and continue to use it for your lifetime and/or that of your
named beneficiary. You will receive an immediate income tax deduction,
on a percentage of the full fair market value of the property (determined
by a qualified appraisal) at the time of the gift. Since the property
is removed from your estate, estate taxes can be avoided. Ultimately
the gift of real estate will support cardiovascular research at the
UA Sarver Heart Center. For further information, contact:
Ken R. Dildine, JD, CPA
Vice President for Planned Giving
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
Telephone: (520) 621-1993
email: plangift@al.arizona.edu
Life Insurance
When you specify The University of Arizona Foundation as the owner and
beneficiary of a paid-up policy, the charitable deduction is for the
policy's cash surrender value or net premium paid on the policy, whichever
is less. The Foundation credits paid-up policies at a value approximately
equal to the cash surrender value of the policy. If the policy is not
fully paid-up, credit is equal to the cash surrender value and any subsequent
premium payments made through the Foundation during the pledge period.
Any subsequent premiums are tax deductible. The Foundation may elect
to liquidate life insurance policies, and evaluates each policy on a
case-by-case basis. For further information, contact:
Ken R. Dildine, JD, CPA
Vice President for Planned Giving
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
Telephone: (520) 621-1993
email: plangift@al.arizona.edu
Gifts Through Your Estate Plan
The following suggested testamentary language is for your review and
use in providing for a gift to The University of Arizona Foundation
for the benefit of the University of Arizona Sarver Heart Center. This
language is not intended as legal advice and should be reviewed by independent
legal counsel. We also encourage you to contact our office so that we
may assist you in the drafting of the language so that it fulfills your
wishes and desires.
Restricted Gift
"...(Specific asset, dollar amount, percentage of or residue of
estate) to (The University of Arizona Foundation, an Arizona nonprofit
corporation), Tucson, Arizona, for the benefit of the Sarver Heart Center
to be used to support cardiovascular research at the discretion of the
then Director."
Endowment Gift
"...(Specific asset, specific dollar amount, percentage of or residue
of estate) to (The University of Arizona Foundation, an Arizona nonprofit
corporation) Tucson, Arizona, to establish the (Name) Memorial Endowment
Fund. Endowment distributions from this fund shall be used by the UA
Sarver Heart Center for the most urgent needs in cardiovascular research."
For more information, about making gift through your estate plan to
either The University of Arizona Foundation to benefit the Sarver Heart
Center contact:
Ken R. Dildine, JD, CPA
Vice President for Planned Giving
University of Arizona Foundation
PO Box 210109
Tucson, AZ 85721-0109
Telephone: (520) 621-1993
email: plangift@al.arizona.edu
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