Fleet Admiral Nimitz Legacy Society

Ways to Give

Types of Planned-Giving Estate Plans To Consider:

These are some of the many means, or vehicles, that will benefit you, and your heirs, as well as the Admiral Nimitz Foundation. The following is information only and should not be considered as legal or financial advice.

 

Bequests:

One of the primary ways that many people support

the work of the Admiral Nimitz Foundation is by

naming it as a beneficiary in their will.

 

Life Insurance:

A gift of an existing or new fully paid life insurance

policy with the Admiral Nimitz Foundation as

beneficiary and owner is a way of making a

large gift with little expenditure. It is an income

tax deduction and no estate taxes are incurred

when the life insurance proceeds are paid to the

Foundation.

 

Retirement Plans:

The Admiral Nimitz Foundation may be named as

the remainder beneficiary of a retirement plan. If

the retirement plan assets pass directly from the

plan to the Foundation, both income and estate

taxes are avoided.

 

Real Estate with Retained Life Interest:

A gift of real property to the Admiral Nimitz

Foundation may be made with retained life estate

privileges. There is partial income tax deduction

with no capital gains tax and a reduction of estate

tax. In the example of a home, the donors can live

there the remainder of their lives.

 

Charitable Lead Trust:

 

A Charitable Lead Trust pays trust income annually to

the Admiral Nimitz Foundation for a period of years

determined by the donor, after which the gift reverts to

the donor or their heirs. The gift is therefore returned to

the donor or heirs at reduced tax cost.

 

Charitable Remainder Unitrust:

Appreciated assets (stock, land, etc.) are put in a Charitable

Remainder Unitrust for the Foundation. The trust returns

an income to the donor for life, or for a set period of years

(not more than 20). The annual, semi-annual, or quarterly

payment of income to the donor is based on a percentage

(not less than 50%) of the trust assets as they are valued

annually. Upon the death of the donor, the principal of the

trust is transferred to the Foundation.

 

Charitable Remainder Annuity Trust:

This is similar to the Unitrust

except that the amount of the

payment to the designated

beneficiaries is fixed at a

percentage (not less than

50%) of the fair market value

of the transferred assets at

the time of the certain of the

trust, and is not revalued

each year. The principal of

the Charitable Remainder

Annuity Trust is transferred to

the Foundation upon death


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