Eastern Legacy Society
Planned Giving Options Comparison Table
| Planned Gift | Process | Your Goals/Benefits |
| Bequest | Adding EKU to your will or through a codicil |
Simplest form of Planned gift. Retain ultimate authority for distributing assets for life Possible Estate tax deduction |
| Charitable Gift Annuity | Contractual agreement between you and Eastern through cash or securities; Eastern will make lifetime annuity payments to you or you and one other beneficiary. |
Fixed and guaranteed payment for life/ Possible tax deduction Possibility of 2 beneficiaries |
| Life Insurance | Naming EKU Foundation as the owner and beneficiary of a new or no longer needed life insurance policy. | Possible income tax deduction; or your estate may be entitled to a deduction of full amount of the policy. |
| Retirement Plans | Naming EKU Foundation as the beneficiary of your IRA or Keogh Plan. | Retain control of assets during your life; Avoid double taxation on your retirement plans; Income tax and estate taxes on such gift avoided at time of death. Possible income tax deduction. |
| Charitable Remainder Trust | Trust agreement is a legal document. Transfer of cash and/or assets to a trust to receive income. Annuity Trust= Fixed amount of income Unitrust = Fixed percentage for a predetermined number of years or life. |
Create additional income for you/your beneficiary (ies). Possible income tax deduction and avoidance of capital gains tax. |
| Charitable Lead Trust | Eastern receives income from Trust during lifetime or pre-established number of years; Beneficiary will receive remainder of trust at the end of term. | Possible increase of inheritance available for your heirs Minimal or free of estate and gift taxes. Possible reduction of capital gain tax on trust appreciation |
| Naming and Memorial Opportunities | Make gift that qualifies for naming recognition | Through any of the above vehicles, your gift may be eligible for a named gift opportunity to create a legacy for a loved one, for yourself, or someone you would like to honor. Tax deduction based upon type of gift made. |
Bequest |
For questions or additional, Bill Melton |
Please click here for the Honor Roll of Eastern Legacy Society Members
Please click here for the Eastern Legacy Planned Giving Calculator
"Since Federal tax laws continue to change, donors are encouraged to contact the Office of Advancement or their financial advisor to clarify current regulations that might have a direct impact on Planned Gifts."
