Planned Giving Guide

Planned Giving

With effective planning, many alumni and friends of ASU find that they can meet their personal financial goals and support their philanthropic interests while realizing significant tax savings. ASU staff can work with you and your financial advisor to present ideas that might help you make a gift you never imagined possible establishing a scholarship or library fund, endowing a faculty chair or academic program, or providing substantial support for another initiative important to you.

Planned gifts explained here have several advantages to consider:

-You can make a gift but continue to receive income from the gift. In many cases, you can even increase your income from the asset you contribute.
-You can give assets you might not have considered as potential gifts (real or personal property, life insurance, closely-held stock). See "Ways of Giving"
-If income from an asset is less important than preserving its value for your children or others, then you can make a gift to ASU that will help you avoid estate taxes when you pass assets to heirs.

Please contact Charles Williamson or Helen Hendee for more information. Also, please note that the information on this website is provided as a general guide. It is NOT intended as legal advice. You should consult your attorney or financial advisor regarding the effect any of these gifts might have on your financial and estate plans.

Bequests

There are several different ways you can designate a bequest for ASU in your will:

-Specific cash bequest — ASU will receive a specific dollar amount.
-Specific bequest of property — ASU will receive a specific asset, such as securities, a work of art, or real estate.
-Residuary bequest —ASU will receive all or a portion of the remainder of your estate after specific bequests are distributed and all estate-related expenses are paid.
-Contingent bequest —ASU receives a bequest only if other beneficiaries are no longer living.
-Unrestricted bequest —This is a gift for our general purposes, to be used at the discretion of the governing board.
-Restricted bequest —This type of gift allows you to specify how the funds are to be used.
-Honorary or memorial bequest —This is a gift given "in honor of" or "in memory of" someone.
-Endowed bequest — In your will, you provide for a trust to be created at your death to provide one or more beneficiaries with income for life, after which the trust assets will come to ASU.

Quick facts:

-Bequests to ASU are deductible for federal estate tax purposes and are generally not subject to state inheritance or estate taxes.
-A bequest is a revocable commitment—one that you can change by creating a new will or adding a codicil to your current will.
-Including a bequest for ASU in your will qualifies you for recognition in the President's Club.

Sample language for a bequest:

I give, devise and bequeath to the trustees of Augusta State University Foundation,<br> a corporation located in Augusta, GA the sum of $___________________;

OR all of my interest in the following property:__________________________ ;

OR ___% of the residue of my estate; OR the rest and residue of my estate.

Most bequests made to ASU are unrestricted or are designated for student scholarships. Please contact the Executive Director of Development and Alumni Relations, Helen Hendee, for information about supporting other needs of ASU through a bequest in your will.

Gifts of Real Estate

When you make a gift of real estate or real property to ASU, you

-receive an income tax charitable deduction for the full market value;
-avoid capital gains taxes on the appreciation;
-eliminate some costs involved in transferring real property;
-and, in some cases, provide income to you. [link to life-income gifts]

What types of property can you consider?

-primary residence
-vacation home
-farm
-ranch
-commercial building
-parcel of land
- >interests such as mineral rights </ul>

As with cash and securities, real estate or real property may be given outright <br>to ASU or may be given in ways that allow you to
use the property during your lifetime or that of a beneficiary.