Planned gifts provide a meaningful way of making a significant impact on INFORMS’ future sustainability, while maximizing a benefactor’s philanthropic and financial goals. Planned giving takes many forms, including bequests, gifts of life insurance, and charitable remainder trusts. Legal counsel, or the advice of a financial planning expert, is recommended to assist you in determining the type of gift that is the most advantageous for you and the beneficiaries of your estate.
Bequest
Bequests are the easiest form of planned gift and can be made by naming INFORMS as a beneficiary in your will. Your bequest can be made as a specific dollar amount or asset, a percentage of your estate, a gift from the residue of your estate, or a beneficiary designation of certain assets. This can be done by including language such as "I give and bequeath to INFORMS, 5521 Research Park Drive, Catonsville, MD 21228 an unrestricted gift of $xx,xxx...," Naming INFORMS as a beneficiary will not disrupt your income and can allow your estate to benefit from a charitable estate tax deduction, all while creating a legacy that will be valued in our field.
Life Insurance
You can name INFORMS the beneficiary of a life insurance policy which is no longer needed for its original purpose. INFORMS can also be made one of the beneficiaries of an active policy. If you have a policy which pays annual dividends, you can assign those dividends as a charitable gift to INFORMS and receive an income tax deduction for the value of the dividends. You may also transfer ownership of a policy to INFORMS and then deduct any premiums which you continue to pay. Insurance policies can also be used for wealth replacement purposes when you make a substantial outright gift or a deferred gift. Check with your legal counsel or financial advisor.
Charitable Remainder Trust
With the assistance of a lawyer, you may wish to establish a Charitable Remainder Trust which can provide you with income for life with a gift to INFORMS upon death or termination of the trust.
Is INFORMS already included in your estate planning? Please let us know!
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.