Q. What is planned giving?
A. Planned giving is a way for individuals to give to Averett without necessarily making an outright cash contribution. With planned giving, you can consider your financial, tax, estate situation and your goals, while helping ensure that Averett's educational mission will thrive.
Q. What are the advantages of planned giving?
A. Planned giving is flexible, with a range of gift vehicles available, and can often be individually designed to suit your personal goals. There can be specific tax advantages with planned giving, or the security of having a steady income stream for you or your beneficiaries, while knowing that your philanthropic wishes will be carried out. The advantages of planned giving depend on the gift vehicle you choose, how you wish to structure it, and your personal charitable objectives.
Q. What kinds of planned gifts are available?
A. The most common type of planned gift is a simple bequest — placing Averett University in your will. Other types include charitable trusts, gift annuities, life insurance, and qualified retirement plan assets, among others. Gifts of real estate through a retained life interest have become popular. You can make a gift of a residence, vacation home, or farm, while retaining the right to live there for life. The donor usually will receive a federal income tax deduction with the possibility of saving capital-gains tax.
Q. I want to make a charitable gift today. Where do I start?
A. The Institutional Advancement Office is happy to work directly with donors as well as donors' families and their legal and financial advisors. Contact Debbie Flinn, Director of Development, if you have specific questions about making estate plans for the University. She may be reached at [email protected] or (434) 791-5680.
Join The 1859 Legacy Society
All living donors who notify Averett of their estate plans are included as members of The 1859 Legacy Society. Members will be invited to special events and an annual luncheon, held each January in conjunction with Averett's Founders Day.
