Planned Giving: Making Hollins a part of your Legacy

Do you have questions about estate planning, planned giving, or how to include Hollins in your will? Contact Diane Markert, Director of Planned Giving, at dmarkert@hollins.edu or (540) 362-6515.

It’s Back: Your IRA Makes it Easy to Give to Hollins

Included in the Emergency Economic Stabilization Act of 2008 is an extension of the Pension Protection Act provisions that expired in 2007. These provisions have been extended through the end of 2009. What this means for Hollins is that the owner of a traditional or Roth IRA, who is 70 1/2 or older, may instruct the trustee of their IRA to distribute directly to Hollins up to $100,000 (in both 2008 and 2009) without the distribution being included in taxable income. This distribution will count toward the IRA owner’s mandatory withdrawal amount. The gift must be outright; rollovers to a planned gift, such as a gift annuity or charitable remainder trust, do not quality.

Take advantage of this opportunity to make a difference to Hollins. For further details, please contact your financial advisor or Diane Markert at dmarkert@hollins.edu.

Charitable Gift Annuity: Give and Receive

A Charitable Gift Annuity (CGA) is a simple contract between you and Hollins. In exchange for your irrevocable gift of cash, securities or other assets, Hollins agrees to pay one or two annuitants you name a fixed sum each year for life. The paymets are a continuing obligation of Hollins no matter how the gift annuity's assets are invested.

"The Perfect Present for Polly"

Men casting about for the perfect gift for their wives would do well to consult Bob Garbee. Garbee landed on the perfect 50th reunion gift for his wife, Mary "Polly" Barksdale Garbee '59, when he called the Hollins development office and asked to speak to Diane Markert, director of planned giving, about a Charitable Gift Annuity (CGA).

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Retirement Plan

Name Hollins as a beneficiary of your IRA, 401(k) or other qualified plan and avoid the double taxation your retirement savings would face if you designate them to your heirs. Your plan administrator can provide you with the necessary documents to designate Hollins to receive a portion or all of your plan.

Life Income Gifts

Gifts of appreciated property can generate income for you with positive tax benefits. Examples include gift annuities, and charitable remainder trusts.

Bequests

Reduce inheritance taxes by designating in your will specific gifts of cash, property, or a percentage of the remainder of your estate.

Sample bequest language: "I (name) of (city, state, zip), give, devise, and bequeath to Hollins University

• (the sum of $_____)
• (___ percent of my estate)
• (description of property)
• (the rest, residue and remainder of my estate)

for its unrestricted use and purpose."

Lead Trusts

Assets can stay in the family while your gift reduces estate taxes and supports Hollins.

Life Insurance

Designate Hollins as a beneficiary of a paid-up policy or a new policy, help the university's future endowment, and get a tax deduction.

Retained Life Estate

You retain occupancy of your property for life, but give your primary or vacation home or farm to Hollins for her future benefit.