Gift planning at any age: 60s and 70s

Gift planning can be a smart way to leave a lasting impression at a charity, like Duke, while achieving your personal and financial goals.  There are many options for every life stage.

If you are in your 60s and 70s, you are likely thinking about your upcoming retirement.  You may be wondering how to provide an income for yourself (and your family) while reducing your taxes.  Supporting organizations you value through a planned gift may help you solve this puzzle.

Three popular giving strategies you may wish to consider in your 60s and 70s are to:

1.  Establish a charitable remainder unitrust

A charitable remainder unitrust is a trust that pays you or your loved ones an income for life or for a term of years.  You may convert appreciated, low-yielding assets like stock or real estate into a diversified portfolio that provides income to you or loved ones while providing future support to Duke.

2.  Donate real estate

Donating property or a fractional interest in the property such as a vacation home or investment real estate may allow you to claim a charitable tax deduction and avoid recognizing capital gains taxes on any appreciation. You may learn more about this type of gift by visiting the real estate section of our website.

3. Create a deferred gift annuity

When you establish a deferred gift annuity you are creating a gift that will pay you back when you need it—such as during retirement.  You can take a larger income tax deduction now—and increase future payments—by deferring those payments until a later date.

View or download our complete Life Stage Planner to discover how a planned gift to Duke can leave a lasting legacy for the university you love while also achieving your personal and financial goals. Contact our team to learn more.

TAGS: Charitable remainder unitrusts Real estate gifts Deferred gift annuities

About the author

Gift Planning

giftplanning@duke.edu

Duke University’s Office of Gift Planning specializes in charitable gift planning for estates, charitable trusts and annuities, and other complex current and future gift plans.

For more information, please contact the Duke University Office of Gift Planning at 919-681-0464 or giftplanning@duke.edu.