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Support the IfA through Planned Giving

by Donna Bebber

Mark and Jo Ann Schindler with UH and UHF officials

IfA salutes Mark and Jo Ann Schindler (center) for including IfA in their will. These two UH alumni devoted their careers to teaching astronomy and physics, library services, and community work for our state. Their bequest will benefit our community by supporting IfA’s outreach programs for generations to come. Also pictured (left to right) UH Mānoa Chancellor Virginia Hinshaw; IfA Director Günther Hasinger; Chip Fletcher, associate dean, School of Ocean and Earth Science and Technology; and Greg Willems, vice president for development, UH Foundation.

Planned giving helps you meet your personal, financial, and estate planning goals by making a lifetime or testamentary charitable gift. Here are some examples of how you can plan your estate to best suit the needs of yourself, family, and the IfA and other charities that you want to support.

A charitable bequest is one of the easiest ways you can leave a lasting impact on the IfA. A bequest may be made in your will or trust by directing a gift to the IfA through the University of Hawai‘i Foundation (UHF).

If you are looking for a secure source of fixed income, now or in future, and are tired of living at the mercy of the fluctuating stock and real estate markets, a charitable gift annuity may be the right solution for you.

You may be concerned about the high cost of the capital gains tax upon the sale of your appreciated property. Or perhaps you recently sold property and are looking for a way to save on taxes this year and plan for retirement. In that case, a charitable remainder unitrust or a charitable annuity trust might be right for you.  A charitable remainder unitrust may be especially useful if your appreciated assets (such as stock, bonds or real estate) are producing little or no income.

There are two other ways your property may benefit the IfA. In a bargain sale, the UHF would purchase your property for less than fair market value. You receive the cash and a charitable deduction for the difference between the market value and purchase price. A life estate reserve may be the right solution if you desire to leave your home or farm to the UHF at your death, but would like to receive a current charitable tax deduction.

If you are looking for a way to pass on some of your assets to your family while reducing or eliminating gift or estate taxes, a charitable lead trust is an excellent option. Another alternative is the give it twice trust, which allows you to transfer your IRA at death to a term of years unitrust. The unitrust will pay income to your family for a number of years and then distribute the balance to the UHF.

The information above was taken from the University of Hawaii Foundation website. Please go to uhflegacygift.org or contact Donna Bebber at bebber@ifa.hawaii.edu for additional information.