LEAVING A LEGACY
PLANNED GIVING
BEQUESTS
A bequest through a will is the most frequent form of deferred gift, largely because it can be a means of making a substantial gift to the Foundation without diminishing the assets available to the donor during his lifetime. Important estate tax savings can result from this type of contribution, since bequests to the Foundation may be deducted from the total estate in determining estate taxes.
Although the actual drafting of your will should be arranged through your attorney, counsel for the Foundation is available to confer with you and your attorney in drafting the appropriate bequest clause.
The simplest of the various ways to provide support for the Foundation through a will is a bequest of a fixed amount or a percentage of dollars or specific items of real or personal property. Bequests can be as small as $10,000 and still provide a perpetual annual gift large enough to have a worthwhile impact.
If you have already decided to include the Triangle Education Foundation in your will, let us know so that we can recognize you through our “Living Oak Society” membership -- individuals already committed to the future of our Fraternity.
GIFTS IN HONOR & MEMORY
One of the most thoughtful contributions an individual can make is a gift in honor or in memory of a teacher, advisor, brother, friend, or relative. An honorary or memorial gift is an appropriate way to recognize someone’s life and accomplishments. The magnitude and diversity of the Foundation offers many opportunities for donors who wish to associate the name of a family or respected individual with a project or program of enduring worth.
GIFTS THROUGH YOUR RETIREMENT PLAN
Gifts through your qualified retirement plan are easy to make and tax-wise for the donor and Triangle Education Foundation. By rolling gifts directly from your plan to the Foundation, you may meet your minimum distribution requirements and not have to claim this distribution as income. Contact the Foundation office to get more details on making a gift from your qualified retirement plan.
LIFE INCOME TRUSTS
Individuals who wish to give substantially toward the strength of Triangle yet wish to retain life income payments from the assets being donated often choose to enter a life income trust program.
Gifts in the form of living charitable remainder trusts provide the same estate tax benefits as bequests. In addition, many forms of agreements provide substantial lifetime income tax benefits. Two basic types are the Charitable Remainder Annuity Trust and the Charitable Remainder Unitrust.
In each case the individual transfers either cash or property to the Trustee of the Charitable Remainder Trust (for example, a bank trust department). The trustee agrees to pay a specified amount to the individual or to his designated beneficiary for life. Income payments may be based upon a fixed dollar amount or a specified percentage of the total trust assets. The principal of the trust when it becomes available to the Foundation following the death of the life-income beneficiary will be used on behalf of Triangle either in an area of greatest need or as specified by the donor.
LIFE INSURANCE
The outright contribution of all rights of ownership in a life insurance policy creates for the donor an immediate deduction for income tax purposes. The naming of a charitable organization as the beneficiary of a life insurance policy will not provide an income tax deduction, but the proceeds of the policy must be included in the donor’s estate, and there will be an offsetting charitable deduction.