Will Provision Designating a gift to the Keck School of Medicine through your will can be accomplished with a provision in your will, or a codicil to your current will. This is an easy way to support a specific medical program without reducing your assets during life. This is an excellent estate planning tool for reducing estate taxes. Your gift is placed into an irrevocable lead trust, which returns annual income to the medical program of your choice for a specified number of years. Your retirement accounts are probably liable for severe taxation upon distribution, especially when distributed from your estate.
Several options are available.