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Office of University Development
UC Davis
One Shields Avenue
Davis, CA 95616-5270
phone: (530) 754-4438
fax: (530) 754-2294
Planned Giving
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But What About the Kids?
How It Works
If making a donation to UC Davis threatens to reduce the amount you can leave to your loved ones, life insurance can make up the difference. Depending on your age, health and marginal income tax rate, the money you save in taxes thanks to the charitable deduction you will receive for your donation can be used to purchase life insurance with death benefits equal to the value of your gift. Voilá!
| Download a free guide to learn more about giving life insurance. |
Another Option
Rather than owning the new life insurance yourself, it may be preferable to own the policy inside an irrevocable life insurance trust (also called a wealth replacement trust). You would typically name a bank trust department or trust institution as trustee. Doing so will enable your heirs to receive the death benefit of the life insurance without having to pay estate taxes. Plus, life insurance is generally income tax–free to your beneficiaries.
A trust makes a person or institution the owner of your property, held for a loved one's or your benefit and administered by the trustee you name.
Please contact Office of Planned Giving at (530) 754-2286 or plannedgiving@ucdavis.edu if we can answer any questions you have about this way to support our mission.
Your Next Steps
Getting Started | Is This Gift Right for You? | Case Study | But What About the Kids? | How to Complete Your Gift | Action Items
Getting Started | Is This Gift Right for You? | Case Study | But What About the Kids? | How to Complete Your Gift | Action Items
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
