Make A Difference In The Future
Make a Difference in the Future
Your Will
A bequest is an excellent way to make a deferred gift. You may include the college in your will, naming the OTC Foundation as a recipient. Your will can include gifts in the form of: cash, stock, bonds, real estate or personal property; a specified percentage of your estate; or the balance of your estate after the interests of family members have been met.
Life Insurance
Be sure to talk with your insurance agent to discuss the types of insurance gifts you can make. Insurance gifts can benefit you and OTC in many ways. You can make a substantial gift with modest premium payments, or it's a good use of paid-up policies that are no longer needed for family members.
Retirement Savings
Naming the OTC Foundation as a beneficiary of a portion of your retirement funds is another option. Be sure to contact the administrator or person in charge of your IRA, profit sharing account, or other retirement plan to list the OTC Foundation.
Charitable Gift Annuity
This type of gift provides a means for donors to make charitable gifts and receive a life income, based on their age and the size of the donation. Donors may even choose to benefit someone else during their life and designate successor beneficiaries. Minimum for this type of gift is $5,000.
Charitable Remainder Annuity Trust or Unitrust
Gifts of this type provide a donor with a lifetime income while making a charitable gift of the remainder at the end of the donor's lifetime. Life estates, where donors retain the right to reside on property until death, are also excellent giving vehicles.
Be sure to work closely with your attorney if you want the OTC Foundation to be a recipient of a future gift.
NOTE: Again, the information provided here is not offered as legal or tax advice. For this advice, please contact your attorney and/or tax professional.