King College > About Us > Alumni and Friends > Planned Giving

Planned Giving

Though giving is prompted by the heart, giving also satisfies our practical side. By including King College in your estate plans, you may receive benefits, support the College, and play a decisive role in the kind of impact your gift will have on generations of students to come.

Planned Giving offers a wide variety of options for you to explore:

• Gifts of Cash
• Gifts of Stock
• Gifts of Real Estate
• Gifts of Life Insurance
• Charitable Remainder Trusts
• Charitable Lead Trusts
• Bequests

Each person’s financial situation is unique. Check with your attorney, accountant, or other tax advisor for additional information on how these general rules apply to your situation.

We will be glad to work with you and your representative to help you find the most suitable arrangement and make the best choices for you and your loved ones.

To find out more about how Planned Giving suits your interests, contact the Office of Marketing and Development, at (800) 621-5464.

Gifts of Cash

Gifts of Cash are fully deductible--up to a maximum of 50 percent of your adjusted gross income. For example, if your adjusted gross income for this year is $50,000, up to $25,000 of charitable gifts may be deducted this year. Excess generally can be carried forward and deducted over as many as five subsequent years.

Gifts of Stock

A gift of appreciated stock offers a two-fold tax savings. First, you avoid paying any capital gains tax on the increase in value of the stock. Second, you receive an income tax deduction for the full fair market value of the stock at the time of the gift.

Gifts of Real Estate

A residence, vacation home, farm, acreage, or vacant lot may have appreciated in value through the years so that its sale would mean a sizable capital gains tax. By making a gift of this property, you avoid the capital gains tax, and receive a charitable deduction for the full fair market vale of the property.

Gifts of Life Insurance

A gift of life insurance can provide a significant charitable deduction. You may purchase a new policy or donate a policy that you currently own but no longer need. To receive a deduction, designate King College as both the owner and beneficiary of the life insurance policy. Check with your insurance agent for details.

Charitable Remainder Trusts

You can fund a charitable remainder trust with cash or appreciated property. You receive income from the assets for your lifetime, qualify for a charitable deduction, and save capital gains and estate taxes. After your lifetime and/or that of a loved one, the trust assets are distributed to the College.

Charitable Lead Trusts

In a charitable lead trust, you transfer assets to a trust that makes payments to the College for a specified number of years after which time the assets are transferred to your heirs. The charitable lead trust allows you to pass assets on to your children and grandchildren with little or no estate and gift taxes.

Bequests

The College can be named as a beneficiary in your will in the following ways:

• An outright gift, either a designated dollar amount or a percentage of your estate, may be specified.
• The College can be named as a remainder beneficiary to receive funds after specific sums have been paid to individual beneficiaries.
• The College may be added to your existing will through an amendment called a codicil.

Since each state has special statutory regulations in regard to wills, it is most important that all testamentary papers be signed, witnessed, and executed according to the laws of the state in which the testator resides. In all cases, however, the legal name of the corporation must be accurately given as in the following form:

"I give, devise, and bequeath to "KING COLLEGE, INC., a Tennessee Corporation, located at Bristol, Tennessee, " the sum of $__________________________ (or property herein described) to be used by its Board of Trustees as they may deem advisable for the benefit of King College."

To find out more about how Planned Giving suits your interests, contact the Office of Marketing and Development at 800-621-5464.