Today Magazine Summer 2019 | Page 21

Planned Giving The Perfect Way to Honor Someone You Love I f you have a friend or family member whose life has been touched by Gwynedd Mercy University, consider making a gift to us in his or her name. When you memorialize some of the most important people in your life, such as your mother, father, spouse, mentors, or other special loved one, as part of a gift, you: • Honor that special person • Support our mission and • Possibly receive personal financial benefits You Have Choices Three basic methods are available for establishing an honorary gift: A gift today - An outright gift can fund our immediate needs or an upcoming project. The financial benefits include an income tax charitable deduction (if you itemize) and the possible elimination of capital gains tax. A gift through your estate plan - You can include a gift in your will or living trust, stating that a specific asset, certain dollar amount or percentage of your estate will pass to us at your death in honor of your loved one. A gift that lives on forever - Honorary endowments can be made now or through your estate plan. Endowments are structured so that a small portion of your gift, rather than the whole amount, is used each year to fund a particular purpose. To perpetuate the fund forever, the majority of the fund always remains intact and is invested for the future. For more information on how to make a meaningful impact on GMercyU for years to come, visit gmercyu.edu/giving or contact Jill Dow at [email protected] or 215-542-4661. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your result. TODAY 19