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College of Law

Florida State University

 

Outright and Deferred Gifts

Outright Gifts: Outright gifts may be in the form of cash, securities, real estate, or personal property. Gifts of cash and of appreciated property will provide you with an income-tax deduction for the full, market value of the gift.

Gifts-in-kind: Gifts-in-kind may be in the form of equipment, books, software, and the like, that can be put to immediate use, for which you qualify for a charitable gift deduction under current IRS rules. Your gift-in-kind will be counted at the full market value placed on it by an independent, expert appraiser.

Charitable Remainder Trust: A Charitable Remainder Trust arrangement pays income to you and eventually benefits Florida State College of Law. Your gift may be funded with cash, appreciated securities, or real estate. A charitable remainder annuity trust or unitrust can provide you with an immediate income-tax deduction, as well as income for yourself or to others for a specific term of years or life. Thus a Charitable Remainder Trust can provide temporary income to augment college tuition costs, provide retirement income, or create a cash flow for supplementing the income of aging parents.

Charitable Gift Annuities: A Charitable Gift Annuity is a contract between you and Florida State University Foundation for a gift in exchange for a life income. A special kind of gift annuity, called the deferred gift annuity, permits you to make a gift to FSU now in exchange for a guaranteed life income beginning at a future date. A charitable gift annuity provides a guaranteed fixed income for you and/or others. The amount of income you receive is based upon your age, or the age of the income beneficiary, at the time you make the gift. By deferring the income, you increase both the amount of your charitable deduction and the amount of income you will eventually receive from your gift while creating a solid retirement vehicle. Like the Charitable Remainder Trust, the gift annuity can create an excellent stream of income for an aging and/or dependent parent.

Life Insurance: Florida State College of Law can be named as both owner and beneficiary of a new or existing life insurance policy. If there are premiums yet to be paid, you pledge to reimburse FSU those premiums. Assigning an insurance policy to FSU provides immediate income-tax deduction for any current value of the policy. The amount of the premiums is deductible as a contribution

Bequests: You may include Florida State College of Law in your will for a specific amount, a percentage of your estate, or a remainder gift after bequests to other interests have been paid. A bequest provides an estate tax deduction for the full value of your bequest to Florida State College of Law.

For additional information on these or other types of outright and deferred gifts, please contact Jeanne Curtin, Assistant Dean for Development.