Oklahoma Baptist University

Tamarisk Society

5 Moves to Make After 50: What to do Next in Your Plans for Your Future

  1. Evaluate Your Finances—There’s no time to lose—pay down debt and increase your savings. If you’ve dreamed of making a difference at Oklahoma Baptist University, consider a life income gift to balance philanthropy with future financial needs.
  2. Review Your Insurance Needs—Sitting inside old desk files may be unneeded life insurance policies. Take a look at your family’s future needs; long-term care insurance may make more sense now than large life insurance policies. Consider using policies you no longer need to make charitable gifts.
  3. Enlist Legal Documents Now—Durable and health care powers of attorney allow someone you choose to make financial and medical decisions for you if you become unable to do so.
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    Goals and Benefits of Planned Giving

    Select your goal below to find the best strategy in giving to OBU and its benefits.

    Maximize your deduction; minimize the gift details

    Your strategy—Use cash to make your gift to OBU

    Your benefits—Claim your deduction against a larger portion of your adjusted gross income and make an immediate impact on OBU

    Afford a larger gift to OBU—and avoid capital gains liability

    Your strategy—Give appreciated stock or bonds held over one year

    Your benefits—Buy low and give high; make a gift that costs you less than the benefit it delivers to us, while avoiding capital gains tax

    Make a gift for OBU’s future that doesn’t affect your cash flow now

    Your strategy—Include a bequest in your will (cash, specific property, or a share of the estate residue)

    Your benefits—Today; a gift that costs you and your family nothing. Tomorrow; an estate tax deduction

    Retain income benefits from the assets you give to OBU—thus afford a larger gift

    Your strategy—Create a charitable gift annuity or a charitable remainder annuity trust or unitrust

    Your benefits—Receive payments for your lifetime; receive a charitable deduction

    Tap one of the most valuable assets in your portfolio to make a gift to OBU

    Your strategy—Use real estate to make your gift to OBU

    Your benefits—Avoid capital gains tax, receive an income tax deduction; and have the option of a gift that doesn’t affect your lifestyle

    Reduce gift and estate taxes and control the timing of passing assets to your children and grandchildren

    Your strategy—Create a charitable lead trust which supports programs at OBU for a fixed, finite period with the principal going to your heirs

    Your benefits—Reduce gift and estate taxes, and freeze the taxable value of growing assets before they pass to your family

    Locate an overlooked asset that you can easily give to OBU

    Your strategy—Name OBU as beneficiary of your retirement plan; leave other assets to family

    Your benefits—Eliminate income tax on retirement plan assets; free up other property to pass to your heirs

    Make an endowment gift from income rather than capital

    Your strategy—Donate a paid-up life insurance policy whose coverage you no longer need

    Your benefits—Increase your ability to make a significant gift to OBU

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