Maximize your impact - and even save on taxes, too
Ways to Give
Making a planned gift does not have to be complicated
In fact, many people find it to be a very simple process, often taking just a few minutes. For example, a popular way to leave a future gift is by naming St. Thomas as a full or partial beneficiary of a retirement account, financial account or life insurance policy – which often requires a simple form available online.
Whichever way you decide to make your gift, when you include the University of St. Thomas in your estate plans, you're making a lasting investment in the future. As a bonus, you might enjoy significant tax savings. You can make a future gift through your estate, or an immediate gift that returns income to you or a family member.
Depending on your situation, some assets are better than others for making a planned gift. We can help you explore the best options to meet your goals.
Some Options to Consider
Beneficiary Designation
A beneficiary designation gift is a simple and affordable way to make a gift to support St. Thomas. You can designate St. Thomas as a beneficiary of a retirement, investment or bank account, or your life-insurance policy.
A beneficiary designation gift allows you to:
- Continue to use your account freely as long as you need it.
- Simplify your planning and avoid expensive legal fees.
- Reduce the burden of taxes on your family (in the case of IRA assets).
- Receive an estate-tax charitable deduction.
How a beneficiary designation works:
- To make your gift, contact your broker, banker or insurance agent to ask for a copy or a link to the new beneficiary designation form.
- Complete the beneficiary designation form you receive, sign it and return it to your broker, banker or agent.
- When you pass away, your account or insurance policy will be paid or transferred to the University of St. Thomas.
Gift In Your Will
A charitable bequest is one of the easiest and most flexible gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to St. Thomas.
A gift can be made in several ways:
- Percentage bequest - Make a gift of a percentage of your estate.
- Specific bequest - Make a gift of a specific dollar amount or a specific asset.
- Residual bequest - Make a gift from the balance or residue of your estate.
A bequest to St. Thomas can help your estate save taxes by providing it with a charitable deduction for the value of the gift. With careful planning, your family can also avoid paying income taxes on the assets they receive from your estate.
Life Income Gifts
If you are looking for a way to save on taxes this year and plan for retirement, a charitable remainder unitrust or a charitable gift annuity might offer the solutions you need.
Both of these gift options provide a secure source of fixed income for now or your future, while providing a tax deduction. And if you fund these gifts with appreciated stock, you’ll receive the additional benefit of avoiding tax on capital gains.
A significant benefit of these gifts is that St. Thomas will receive the remainder of the trust or gift annuity to support the education of future Tommies!
Real Estate
Giving appreciated real estate, such as a home, vacation property, undeveloped land, farmland, a ranch or commercial property can make a great gift to St. Thomas. You’ll avoid paying capital-gains tax on the sale of the real estate, receive a charitable income-tax deduction based on the value of the gift, and leave a lasting legacy to St. Thomas.
Contact Jason Watt to learn more about real estate gift options.
Other
On this website we’ve listed some of the most common types of gift options. However, there may be other ways to give that better meet your needs. We would be happy to discuss other possible solutions with you. Please contact:
Jason Watt, J.D., C.P.A.
Director of Planned Giving
jason.watt@stthomas.edu
(651) 962-6945
Beneficiary Designation
A beneficiary designation gift is a simple and affordable way to make a gift to support St. Thomas. You can designate St. Thomas as a beneficiary of a retirement, investment or bank account, or your life-insurance policy.
A beneficiary designation gift allows you to:
- Continue to use your account freely as long as you need it.
- Simplify your planning and avoid expensive legal fees.
- Reduce the burden of taxes on your family (in the case of IRA assets).
- Receive an estate-tax charitable deduction.
How a beneficiary designation works:
- To make your gift, contact your broker, banker or insurance agent to ask for a copy or a link to the new beneficiary designation form.
- Complete the beneficiary designation form you receive, sign it and return it to your broker, banker or agent.
- When you pass away, your account or insurance policy will be paid or transferred to the University of St. Thomas.
Gift In Your Will
A charitable bequest is one of the easiest and most flexible gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to St. Thomas.
A gift can be made in several ways:
- Percentage bequest - Make a gift of a percentage of your estate.
- Specific bequest - Make a gift of a specific dollar amount or a specific asset.
- Residual bequest - Make a gift from the balance or residue of your estate.
A bequest to St. Thomas can help your estate save taxes by providing it with a charitable deduction for the value of the gift. With careful planning, your family can also avoid paying income taxes on the assets they receive from your estate.
Life Income Gifts
If you are looking for a way to save on taxes this year and plan for retirement, a charitable remainder unitrust or a charitable gift annuity might offer the solutions you need.
Both of these gift options provide a secure source of fixed income for now or your future, while providing a tax deduction. And if you fund these gifts with appreciated stock, you’ll receive the additional benefit of avoiding tax on capital gains.
A significant benefit of these gifts is that St. Thomas will receive the remainder of the trust or gift annuity to support the education of future Tommies!
Real Estate
Giving appreciated real estate, such as a home, vacation property, undeveloped land, farmland, a ranch or commercial property can make a great gift to St. Thomas. You’ll avoid paying capital-gains tax on the sale of the real estate, receive a charitable income-tax deduction based on the value of the gift, and leave a lasting legacy to St. Thomas.
Contact Jason Watt to learn more about real estate gift options.
Other
On this website we’ve listed some of the most common types of gift options. However, there may be other ways to give that better meet your needs. We would be happy to discuss other possible solutions with you. Please contact:
Jason Watt, J.D., C.P.A.
Director of Planned Giving
jason.watt@stthomas.edu
(651) 962-6945
My father showed me by example that one’s life has more meaning when you join with others to support important institutions that make a difference in our community and the world. St. Thomas fits that conviction perfectly by showing its students ways to make the world a better place.
A Special Note About IRAs
A Great Asset to Leave to St. Thomas
By leaving your IRA to someone other than your spouse, you can subject your heirs to significant taxes on their inheritance, even if you do not have a taxable estate. It’s better to leave other assets to heirs, and designate your IRA to a charity which does not have to pay taxes on the gift.