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When people think about supporting Lakeland University, they often only consider gifts of cash or stock. But did you know that many other types of assets, including personal property, can be donated to Lakeland University?
Planned gifts, most often called "non-cash gifts," "net-worth gifts" or "deferred gifts," are generally given through a donor's asset base rather than with cash or discretionary income. Through planned gifts, people make provisions for the university during their lifetimes, but the university does not receive benefits until a future date.
Benefits of planned gifts may include:
Feel free to try out the complimentary gift planning calculator and input your own figures to see how that particular gift arrangement would work for you.
Up to 90 percent of planned gifts are revocable (which means they can be canceled) through a will bequest or beneficiary designation in an insurance policy, bank account or retirement plan designation. Revocable planned gifts are popular because donors retain complete control of the property during their lifetime.
These provisions cost nothing to set up and can easily be changed or canceled, because the property does not transfer to Lakeland until the donor's passing. The easiest and most cost-effective revocable provision is to name Lakeland as a beneficiary of your IRA or retirement plan asset (401k or 403b). Simply include the university as a beneficiary by specific amount, percentage of the asset or as a contingent beneficiary. This provision can be changed by requesting a change-of-beneficiary form from your plan administrator. Your estate may receive an estate tax benefit, if the provision is in place, when the donor's estate is settled.
Revocable options include:
Additional advantages of charitable beneficiary designations, which have the same tax advantages of will bequests, include the ability to control property during life — if those retirement arrangements were funded with pre-tax assets, as gifts to tax-exempt charities (like Lakeland University) or tax-free income.
When individuals are the beneficiaries of this property, they must pay the income taxes due. These designations can be changed frequently, easily and without cost, by requesting a change of beneficiary form from the plan administrator. Given the benefits of electronic mail, these changes can be made quickly.
Though they cannot be canceled, irrevocable (non-cancelable) planned giving methods — like a a charitable trust, gifts or real estate and other arrangements — should be considered because of their attractive benefits to the donor.
The irrevocable options include:
If you are interested in a variety of other planned gift arrangements not listed on our planned giving page or you have questions about any of the gift arrangements on this webpage, please call Stuart Merritt, director of major and planned gifts at 920-565-1023 ext 2153 or 1-800-569-2166 ext 2153 or email him at
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