Planned Giving: Bequests, Trusts, and Gift Annuities

Many alumni/ae, parents, and friends, regardless of age, make gifts to PSR through the establishment of bequests and trusts. Not only can these arrangements provide income to the donor, but they also can provide significant tax advantages. Most importantly, gifts through bequests and trusts can allow you to leave a legacy that will live on in perpetuity and make a difference for future generations of PSR students.

There are many forms of planned gifts, and each option has different tax advantages for the donor. Please contact Kathleen McShane, Vice President for Institutional Advancement, to discuss what option might work best for you.

Bequests

To make a gift to PSR from your estate, you should make out a new will or add a codicil to your existing will. In order to make sure that your exact wishes are carried out, you should consult with the Office for Institutional Advancement and with an attorney before creating or amending your will.

Gifts that Return Income

Life income gifts enable you to make a gift to PSR through a trust or annuity, while securing a stream of income back to you from that same trust or annuity. A trustee (which can be PSR or an entity of your choice) manages the investment of the trust assets and will distribute income to you for a term measured by a specific number of years (not to exceed 20 years), or lives of the beneficiaries. Thereafter, the remaining trust principal goes to PSR, and its use can be designated to the area of your choice — for example, to endow a scholarship.

Using Retirement Assets to Make a Charitable Gift

Retirement assets that pass to your heirs through your estate can be subject to both estate taxes and income taxes. You might consider designating charities as the beneficiaries of your retirement accounts, thereby avoiding those taxes. Beneficiary designations should be made through your retirement plan manager, not through your will.

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