Another easy and affordable way you can support Kent State University is through a Beneficiary Designation Gift. Simply designate us as a beneficiary of a retirement, investment or bank account, or of your life insurance policy.
Why a Beneficiary Designation Gift?
- Direct your support to your specific area of interest
- Retain access to your funds throughout your lifetime
- Flexible giving - support us while also supporting other heirs
- Can easily be adjusted throughout your lifetime if your circumstances change
- No need to see an attorney
- Reduce taxes on income passed to heirs
- Potential reduction of estate taxes
Please contact us with any questions about beneficiary designation gifts.
Life Insurance is Often a Forgotten Asset
When you are at a point in life that life insurance is no longer needed, you can change your life insurance policy beneficiaries to Kent State University. The policy can be designated upon death to support Kent State as a partial or full beneficiary.
Why Include Kent State in Your Life Insurance
- There is no need to contact your attorney and incur legal feels to add Kent State as a beneficiary. You would simply need to fill out a beneficiary designation form. If there comes a time that the purpose of the future gift changes, you would then just let us know.
- You will leave a lasting legacy to support the goals and mission of Kent State.
Another option for those whose life insurance policies are obsolete who are also interested in a charitable deduction, is to transfer ownership of the policy to Kent State University. The size of the charitable deduction will vary based upon the status of the policy (fully paid, partially paid or new policy).
If you have questions, or for more information on how you can make a gift to Kent State using your life insurance policy, please contact us.
This type of gift allows you to leave your home or farm to Kent State University upon your death, while also receiving a charitable income tax deduction in the current year.
Why Establish a Life Estate?
- You will receive a federal income tax deduction for the value of the remainder interest on your home or farm
- Retain use and control of your home or farm throughout your lifetime, and for the life of a designated heir if you wish
- Leave a lasting legacy to Kent State University
How a Life Estate Works
- Deed your home or farm to Kent State University, with the deed stipulating that you retain control and use of your home or farm for the remainder of your lifetime and also the lifetime of an heir (if you choose to name an heir).
- You agree to maintain the property, and continue to pay insurance and property taxes during your lifetime.
- When you (and your heir, if named) have passed, your home or farm will belong to Kent State University, and will then use or sell the property to serve the purpose you stipulate in your Life Estate.
Please contact us with any questions about life estates.