How you can benefit from a gift to CABGU? One of the most satisfying investments anyone can make is preparing for one's own future, while providing for the future of higher education at Ben-Gurion University of the Negev.
Finding the right planned giving vehicle depends on a number of factors, including your age and marital status, the size of your estate and income level. Additional factors may include current or future income needs, applicable income and estate tax deductions and the desire to provide for additional family members.
Here are some examples of giving opportunities that enable CABGU supporters to make charitable gifts they may have never considered, while accomplishing their own financial and tax planning goals.
Charitable Bequests -
Leaving a gift to CABGU on behalf of Ben-Gurion University in a will or trust is the most common type of planned gift. Charitable bequests are easy to make. There are no minimum dollar requirements or complex rules to understand. You may leave a designated amount for restricted use that coincides with your educational and research interests, or leave the funds undesignated, allowing the University to use them where they're needed most. Charitable bequests qualify for a 100% charitable deduction for estate tax purposes.
Gifts That Provide an Income -
A substantial gift that allows you to receive income from the assets immediately or at a future date. These gifts represent an irrevocable transfer of assets to a trustee. CABGU can serve as trustee of these assets and handle all the investments, or a separate trustee can retain control of the assets with CABGU being the beneficiary of those assets. The principal will be used to support BGU's outstanding educational opportunities.
Gifts of Real Estate -
A gift of a home or other real estate left to CABGU by will. Gifts of real estate qualify as a 100% charitable tax deduction for estate tax purposes. By using a transfer with a retained life estate, an individual can make a charitable gift of real estate and reserve the right to live in the property for life. The advantage is the donor can receive an immediate charitable deduction for the present value of the remaining interest in the property and avoid estate tax on the property at the time of death.
Gifts of Life Insurance -
Naming CABGU as your beneficiary in a life insurance policy is an easy and cost-efficient way to provide a meaningful gift that will have long-lasting impact on the University. The donor is entitled to a charitable deduction in the year of the transfer. The value of the deduction is dependent on the type of the policy.
Gifts of a Pension, a Retirement Plan, or an IRA -
Pension plans, retirement plans and IRAs are subject to high taxes upon a person's death. Since these plans are income tax deferred, they are subject to state, federal and income taxes when given to children, grandchildren and other non-charitable entities. By making CABGU the primary or partial beneficiary of these assets, these taxes may be avoided. A donor may direct CABGU to establish a charitable trust that still benefit their descendents by making them the beneficiaries of the charitable trust's income payments.
Be sure to check with your advisors about the best way to take advantage of all these giving opportunities.
Donors who participate in any one or more of these planned giving options become members of CABGU's Living Legacy Society.
For more information, contact the regional office in your area.