| Type of Gift |
What Is It? |
What Are Tax Benefits? |
What Are Benefits To You and USM? |
| Outright Gift |
A donation of cash, securities or personal property |
Income tax deduction for the value of the gift, plus no capital gains tax due on appreciated property |
You can tailor your gift to USM’s immediate needs |
| Living Trust |
A trust you establish to take effect during your lifetime |
Possible savings in estate taxes if USM is the beneficiary of the trust remainder |
Terms of the trust can be changed at any time |
| Bequest in Will |
A gift you make by naming USM in your will |
Estate tax deduction for the value of your bequest to USM |
Gives you flexibility in providing for family
needs first. Increases opportunity for an endowed/major gift |
| Life Insurance Gift |
A gift of an old or new policy with USM named as beneficiary and owner |
Immediate income tax deduction for gift’s value, plus possible estate tax savings |
Provides a way to make a significant gift to USM with little expenditure |
| Retirement Plan Gift |
A gift made by naming USM as remainder beneficiary after your death |
Avoids a high income tax on the plan, in addition to possible estate tax |
Preserves plan’s value and allows you to leave heirs less costly bequests and make a major gift to USM |
| Real Estate Gift |
A donation of real property either in full or with a retained life estate |
Immediate income tax deduction for the charitable value of the gift, plus no capital gains tax due |
Can allow you to live in your home and still receive a charitable deduction, and make a legacy gift |
| Charitable Gift Annuity
[more information on gift annuities] |
A contract in which the University of Maine
System agrees to pay you back a percentage of your gift annually |
Immediate income tax deduction for part of gift's value, with capital gains spread out over life expectancy |
Gives you and/or another beneficiary a set income for life, at a good rate with the remainder to USM |
| Charitable Remainder Annuity Trust |
A trust that pays a set income to you or those you name before USM receives remainder |
Income tax savings from deduction, no capital gains tax liability, possible estate tax savings |
Provides fixed annual income for you or other beneficiary, with the remainder benefiting USM |
| Charitable Remainder Unitrust |
A trust that pays variable income to you or those you name before USM receives remainder |
Income tax savings from deduction, no capital gains tax liability, possible estate tax savings |
Provides annual income that could increase if trust value increases, with remainder to USM |
| Charitable Lead Trust |
A trust that pays an income to USM for a period of years before you or heirs receive remainder |
Gift or estate tax savings for value of payments made to USM |
Allows you to pass assets to heirs intact at a reduced cost, and make a legacy gift |
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