Trusts and Life Income Plans
Charitable Gift Annuities:
The Charitable Gift Annuity offers a way to make a significant gift to Yo San University while continuing to provide for your own future. In exchange for making an irrevocable gift of cash or securities, you or the person you designate will receive fixed annual payments for life. The payment amount depends upon the value of the gift and the age of the income beneficiary(ies) at the time the gift is made. Your gift also qualifies for an income tax charitable deduction. A Charitable Gift Annuity with Yo San University requires a minimum gift of $5000. Immediate beneficiaries must be 60 years of age or older. Deferred annuities can be set up at age 55. The gift annuity agreement can easily be completed by mail.
Revocable Living Trusts:
A Living Trust offers a way for you to manage property and income during your lifetime as well as to distribute your assets after your death. You may change or cancel this type of trust at any time. You can arrange to have current gifts to Yo San University made through the trust. Just as in a Will, a bequest to Yo San University through your Living Trust may reduce estate taxes. In the event of your death, all assets in the trust will be distributed according to the trust’s distribution provisions, which avoids lengthy and often expensive probate procedures.
Charitable Remainder Trusts:
Charitable Remainder Trusts provide substantial financial and tax benefits for donors, as well as meaningful gifts to Yo San University. You need a lawyer to establish a Charitable Remainder Trust, and you must irrevocably donate cash or property to fund the trust. A trustee is selected to manage the assets and earnings, and money from the investments is used to provide regular annual payments to you or to your designated beneficiaries. Payments can be either fixed or variable, and they may be for the life of the beneficiary or for a specific period of time up to 20 years. At the end of the term, or upon the beneficiary’s death, the trust assets pass to Yo San University. Generally it is not cost effective to set up a Charitable Remainder Trust for less than $100,000.
Charitable Lead Trusts:
Through a Charitable Lead Trust, you donate cash or property to fund a trust from which annual payments are made to Yo San University for a set number of years. When the trust terminates, the assets revert back to you or are given to your heirs. If the assets of the trust appreciate in value over the years, this increase is passed on to your heirs free from gift or estate tax. Administrative costs generally require gifts of at least $100,000 to establish a Charitable Lead Trust.