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Gift Planning: Bequests and Other Options

Planned gifts and life income plans allow friends of Hawai`i Pacific University to leave a legacy for generations of future students, while also meeting personal financial objectives.

Bequests

Designating The Hawai`i Pacific University in your will or trust is a simple, direct method of leaving a legacy at Hawai`i Pacific University. Bequests can be of any size, and you can bequeath cash, securities, or property. This type of gift can also reduce your estate tax liability. Contact us for specific bequest language and to make sure The Hawai`i Pacific University has documentation that explains how you want your gift to be used. View suggested bequest language.

Retained Life Estate

You can donate your home, other property to The Hawai`i Pacific University while still retaining the right to live in or use the property for the rest of your life. This gift can qualify for a partial income tax deduction and reduce probate complications and estate taxes. After your lifetime or that of your spouse, your property will provide generous support for Hawai`i Pacific University.

Charitable Remainder Trusts

A charitable remainder trust (CRT) is a life income arrangement that enables you to convert an asset, usually appreciated stock or real estate, into an income stream by making an irrevocable gift of the property. Once transferred into the CRT, these appreciated assets can be sold tax-free and are reinvested into a diversified portfolio. As a result, you have the full fair market value of the gifted property available to produce life income for you.

In addition, your gift will generate a charitable income tax deduction equal to the present value of your future gift. In the year of your gift, this deduction can be taken up to 30 percent of your adjusted gross income. Any unused part of this deduction can be carried forward and deducted from your income in the same percentage for an additional five years.

IRA Rollover

In January, 2013, Congress extended an excellent charitable planning opportunity for both 2012 and 2013. The law allows charitably minded individuals a golden opportunity to make gifts directly from their IRAs and exclude the amount of their gifts from gross income. The following requirements must be met:
  • The donor must be 70 1/2 years of age or older
  • The transfers must go directly from the IRA to qualified charities
  • Gifts cannot exceed $100,000 per taxpayer per year
  • Gifts must be outright, not to donor advised funds, charitable remainder trusts, or for charitable gift annuities;
A gift from your IRA would count against the minimum distribution you would be required to take from your IRA in the future. Click here to learn more.