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How You Can Make a Legacy Gift

Bequest

  • Your Goal: Defer a gift until after your lifetime
  • Your Benefits:
    • gift exempt from federal estate tax
    • control of asset for your lifetime
  • How to Make your Gift: Name Glendale College Foundation in your will or revocable living trust (designate a specific amount, a percentage, or a share of the residue.)
    Language to Insert Into Your Estate Plans (1.5K PDF)

Revocable Living Trust

  • Your Goal: Make a revocable gift during your lifetime.
  • Your Benefits:
    • control of the trust for your lifetime
    • gift in trust exempt from federal estate tax
  • How to Make Your Gift: Name Glendale College Foundation the beneficiary of assets in a living trust.

Securities

  • Your Goal: Eliminate tax on capital gains.
  • Your Benefits:
    • immediate charitable deduction of full fair market value
    • elimination of capital gains tax
  • How to Make Your Gift: Contribute long-term appreciated stock or other securities by contacting your broker.

Life Insurance

  • Your Goal: Make a large gift with little cost to yourself.
  • Your Benefits:
    • current income tax deduction
    • possible future deductions through gifts to pay policy premiums
  • How to Make Your Gift: Contribute a life insurance policy you no longer need.

Retirement Assets

  • Your Goal: Eliminate the twofold taxation on IRAs or other qualified retirement plans.
  • Your Benefits:
    • make the gift from the most highly taxed assets, leaving more for family
    • eliminates income and estate taxes
  • How to Make Your Gift: Name Glendale College Foundation as the beneficiary on the balance left after your lifetime, using the plan's beneficiary form. 

Charitable Remainder Trust

  • Your Goal: Create a hedge against inflation over the long term and supplement your retirement income.
  • Your Benefits:
    • variable income for life
    • immediate income tax charitable deduction
  • How to Make Your Gift: Create a trust that pays a fixed percentage of trust's assets as revalued annually.

Charitable Lead Trust

  • Your Goal: Reduce gift and estate taxes on assets you pass to children or grandchildren.
  • Your Benefits:
    • reduces your taxable estate
    • property given back to your family, often with reduced gift taxes
  • How to Make Your Gift: Create a charitable trust that pays fixed or variable income to Glendale College Foundation for a specific term of years; thereafter the balance is given to loved ones. 

For more information, please contact Lisa Brooks, executive director, at (818) 551-5196 or lbrooks@glendale.edu