• Bequests
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Ideas for Giving and Moving Forward in 2022

William Jessup University continues to move forward with its important work. In the midst of all that is going on, many of our friends and supporters are looking forward to the future when they can enjoy community with friends and resume their regular activities. In response to the current situation, Congress extended some of the COVID relief tax changes to 2022.

William Jessup University has created this page to offer resources to help you with your tax planning and to offer some ideas for you to consider if you are thinking about making a gift in support of our mission in 2022.

1. A solution to the Secure Act and Beneficiary Inheritance Planning

Are you planning to leave your IRA to your children and other heirs using a stretch IRA plan?

Did you know the Secure Act has dramatically changed the tax law rules, substantially increasing the income taxes paid by your children on inherited IRAs?

If so, consider the benefits of using a testamentary charitable remainder unitrust to replace your obsolete stretch IRA plan.

  • Spreads out the income payments over the lifetime of your heirs
  • Provides income tax saving to the heirs
  • Allows tax-free growth inside the trust
  • Protect heirs
  • Results in no taxes being paid on the IRA when it is distributed to the trust
  • Leaves significant charitable gifts to support our cause

2. Donor Advised Funds

If you have a Donor Advised Fund (DAF) and wish to help us this year, you can make a gift from your DAF to support our work without affecting your personal financial security.

3. Charitable Gift Annuities

If you are concerned about your financial security given the ups and downs of the stock market, you may want to consider making a gift to fund a charitable gift annuity. You might be surprised by the benefits. You can exchange your low-performing stock, CDs or cash for guaranteed, lifetime fixed payments. If you make a gift of an appreciated asset, you will not have to pay capital gains when you fund the annuity. You may also benefit from a tax deduction this year and a portion of your payments could be tax-free.

4. Charitable Bequests

Many of our friends are updating their estate plans. If you would like to support our cause with a charitable bequest, we can help. Please contact us for a copy of our free estate planning guide. We can provide you with our bequest language and estate planning attorney referral list. Please contact us for assistance with creating and updating your plans.

If you are interested in learning more about any of these ideas, please contact us. Please also let us know how we can help you during this time.