Estate Planning
Careful gift planning today can assure security for you and your loved ones -- and ensure a solid financial foundation for The Sage Colleges in the years to come.
The Sage Colleges provides the following options:
- Charitable Lead Trust
- Gifts of Real Estate with or without retained use
- Life Insurance
- Tangible Personal Property (gifts-in-kind)
- Other Assets
- Wills
Life Income Gifts
Alumnae/I and friends of The Sage Colleges who would like to make a substantial gift, but also consider their own financial needs, may find a life income plan to be an attractive option.
Life income arrangements vary, but all share the following advantages:
- The satisfaction of supporting The Sage Colleges during your lifetime
- Payments for life, to you and/or another beneficiary you may designate
- An immediate federal and state income tax deduction for a portion of your gift
- An opportunity to increase your income from low-yield, highly appreciated securities while reducing or, in some cases, totally avoiding tax on the appreciation
- Reduced estate taxes
The three most popular life income arrangements are The Sage Colleges' Pooled Income Fund, charitable gift annuities, and charitable remainder trusts. Use The Sage Colleges Planned Giving Calculator to obtain income and charitable deduction information about your gift to Sage. To obtain additional information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Pooled Income Fund
Your gift of cash or marketable securities is "pooled" together with gifts made by others; all gifts are assigned units as they are in a mutual fund. The fund pays you (and a second beneficiary if desired) a share of the net income each quarter for life according to the prevailing interest rate. The minimum initial gift is $5,000. Additions may be made in minimum increments of $1,000. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Charitable Remainder Trust
These trusts are individually managed by a trustee of your choice and are tailored to your unique needs. You irrevocably transfer cash, marketable securities, or real estate to a trust in the name of The Sage Colleges. In return, you receive income for life from the invested assets. The minimum gift is $100,000.
- Unitrust--pays a fixed percentage of trust assets revalued annually, producing a variable income, distributed quarterly.
- Annuity Trust--pays a fixed dollar amount annually, based on the initial value of the trust assets, producing a stable income.
For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Charitable Gift Annuity
In exchange for your gift of cash or marketable securities, you receive a fixed annuity paid for the rest of your life. With a minimum gift of $5,000, the gift annuity and deferred gift annuity pays a fixed dollar amount annually, based on the age of the beneficiary and initial value of the assets, producing a stable income. Income can be deferred, allowing the principal to build, for a period selected by the donor. This is a flexible and effective retirement planning vehicle. Tax free and capital gains income may be available depending on the asset used. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Charitable Lead Trust
This gift planning vehicle allows you to shield more of your accumulated wealth from gift and estate taxes and make a current gift to Sage. It is one of the most powerful estate planning techniques available today. Under this plan you would irrevocably transfer assets to a trustee and provide that payments be made to Sage for a certain number of years. Then the principal would be distributed to your children, grandchildren, or other heirs. The principal passes to your heirs at greatly reduced gift- and estate tax rates and sometimes escapes them altogether. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Gifts Of Real Estate
Sage will consider gifts of real estate. Since there are potential risks for the College such as marketability, environmental concerns, and hazardous waste problems, Sage will very carefully consider such gifts. Charitable deductions are determined by a qualified appraisal obtained by the donor at the time of the gift transfer. Outright gifts and partial interest gifts may be possible. Other Options include Real Estate With Retained Life Use.
You may give Sage a personal residence or farm and continue to use it for your lifetime and/or that of your named beneficiary. You will receive an immediate income tax deduction, on a percentage of the full fair market value of the property (determined by a qualified appraisal) at the time of the gift. Since the property is removed from your estate, estate taxes can be avoided.
For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Life Insurance
When you specify Sage as the owner and beneficiary of a paid-up policy, the charitable deduction is for the policy's cash surrender value or net premium paid on the policy, whichever is less. Sage credits paid-up policies at a value approximately equal to the cash surrender value of the policy. If the policy is not fully paid-up, credit is equal to the cash surrender value and any subsequent premium payments made through Sage during the pledge period. Any subsequent premiums are tax deductible. Sage may elect to liquidate life insurance policies, and evaluates each policy on a case-by-case basis. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Other Gifts Of Tangible Personal Property (Gifts-in-Kind)
In certain circumstances Sage will consider accepting gifts of tangible personal property. As with gifts of long-term appreciated securities, donors are usually entitled to a charitable deduction for the market value of works of art, rare books, stamp or coin collections, equipment, etc. The extent of the allowable deduction for a gift of such property is dependent upon the so-called related use rule. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
Other Assets
Donors with other types of assets, such as stock options, pension plans, copyrights and royalties should contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu to determine whether a gift is possible.
Wills
A charitable BEQUEST or ESTATE GIFT is an excellent way to support The Sage Colleges, especially for those who cannot donate assets during their lifetime. You simply include the bequest in your will. The full value of a bequest is deductible for federal estate tax purposes and there is no limit to the size of a bequest.
Bequests are a wonderful way of building the Colleges' endowment, supporting faculty, and providing support for general, unrestricted use or for specific requested use. For further information, contact the Office of Gift Planning, 92 First Street, Troy, NY 12180, 1-(800) 898-8452 or by email at gift_planning@sage.edu.
