Do you have questions about estate planning, planned giving, or how to include Hollins in your will? Contact Hannah Alley at email@example.com or 800-846-5371 (800-Tinker1)
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 payments 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 about a Charitable Gift Annuity (CGA).
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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.
Gifts of appreciated property can generate income for you with positive tax benefits. Examples include gift annuities, and charitable remainder trusts.
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
for its unrestricted use and purpose."
Assets can stay in the family while your gift reduces estate taxes and supports Hollins.
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.
You retain occupancy of your property for life, but give your primary or vacation home or farm to Hollins for her future benefit.