The most common form of deferred gift is a bequest from the donor's will. A charitable remainder trust is an irrevocable trust. Under its terms, assets are transferred to a trustee, with income paid to one or more individuals for a predetermined number of years or for the lifetime of one or more individuals. When the designated time has expired, the trust principal becomes the property of Averett College and is used for the purposes agreed to by the donor and the college. In some cases, there may be significant advantages to using retirement plan assets for charitable giving.
Life insurance is another deferred giving arrangement.
A fully paid life policy that you have owned for many years or a new policy can be contributed to Averett College. A gift of real estate can often prove to be an effective way of making a gift to Averett. For a person in the right set of circumstances a gift of a remainder interest in a residence or farm can make someone a philanthropist without a noticeable change in lifestyle. When you decide to make a gift to Averett College, we encourage you to meet with a college staff member who will help you plan your gift to accomplish your philanthropic and financial goals. We recommend that you consult your attorney or accountant for the legal and tax implications of any gift you make to a charitable organization.