A donor makes an irrevocable transfer of property, cash or other assets, to a trust. The donor retains a right to receive income from the property in trust or designates another person or persons to receive the income. The donor receives an income tax charitable deduction in the year of the gift. If the gift is made with appreciated, long-term property, the donor incurs no immediate capital gains tax on the transfer to and the subsequent sale of the assets by the trust. When the trust term ends, the property remaining in the trust becomes a gift to Suffolk University.
Income fluctuates annually with the fair market value of the trust.
Income payments are fixed and determined when the gift is made. Many different kinds of gifts may be arranged using life insurance. The University may be named as a beneficiary of all or a percentage of your life insurance proceeds. When real property has been held long term, appreciated in value, and is readily marketable, it can make an ideal gift for Suffolk University. There are a variety of ways to give real estate.