Planned Giving Options: Bequests

A planned gift is invested rather than spent right away.  When you give a planned gift to the Foundation of UMDNJ, you name a beneficiary to receive payments as a result of the gift. The Foundation then uses the remaining amount of the gift for the purposes you specify.

Almost 80% of the Foundation's contributions come in the form of bequests, gifts made through wills or living trusts. This type of gift allows you to maintain the benefit from your assets throughout your lifetime while enabling you to associate yourself with UMDNJ forever. Since it is revocable, a bequest does not provide a current income tax deduction, but when it is distributed, the amount will be deductible from your taxable estate. For example, many individuals have substantial life insurance or retirement plans. In some cases, these assets total more than is needed for a comfortable retirement and could result in heavy taxes at the time of death. Consider using a portion of these assets to make your charitable gifts.

NOTE: The information contained in this Web site does not constitute tax or other legal advice. For tax or other legal advice, you should consult your own advisers.