Planned Giving: How It Works
Planned giving mechanisms empower donors who always wanted to do something special.
Graduates with fond memories of Maxwell give regularly to the Annual Fund and other priorities that arise. But when the donor starts to think about his or her ultimate Maxwell legacy, the strategy often involves planned giving.
“Planned giving provides a way to make a signature gift to an institution you believe in,” says Linda Birnbaum, assistant dean for advancement, “leveraging your estate to fund a gift greater than you probably ever imagined.”
And, while creating a legacy at Maxwell, planned giving also allows donors to provide for loved ones. Thoughtful estate planning can result in tax savings and may reduce probate expenses.
Planned giving most typically takes the form of bequests — “It’s similar to deciding who gets a family heirloom,” says Birnbaum — but life insurance and charitable gift annuities are also popular.
Bequest
In this case, donors include a provision in their will or revocable trust that leaves a portion of their assets to Maxwell. “The same way people put children in their wills, you can name Maxwell a beneficiary,” Birnbaum says.
Charitable
Remainder Trust
This arrangement pays income to named beneficiaries during their lifetimes; the remaining trust assets are ultimately transferred to Maxwell. With this option, donors ensure their beneficiaries are cared for first.
Life Insurance
A donor may purchase or transfer ownership of a life insurance policy to Maxwell. The donor pays the annual premium, which is usually tax deductible.
Charitable Gift
Annuity
This device commits a donation to Maxwell while providing the donor quarterly annuity payments. “It’s a way to confirm a gift that generates income, while still conveying your loyalty to and trust in Maxwell,” Birnbaum says.
“There are many ways you can create a legacy, no matter your career, your age, or your income,” Birnbaum says. “The important thing is, if you had a good experience at Maxwell, you want to give someone else a similar chance. Planned giving offers options
to make a truly impressive contribution.”
Make an Impact with Gift Planning
Visit Syracuse University's planned giving website, ForeverSyracuse.syr.edu, for more information on how to add
SU to your gift planning.