Gift Planning Process: What Assets to Give
Many gift plans revolve around a particular asset, including cash, marketable stock, bonds, real estate, retirement-plan accounts, privately held stock, life insurance, and even personal property, such as art.
Tax law encourages you to make donations in certain ways. By giving Tech certain appreciated assets in selective ways, you may receive tax benefits, such as avoiding capital-gain taxes, and you may be able to increase your income, provide education funds to your children or grandchildren, or transfer your assets to your heirs at reduced tax levels. The following are examples of assets that you may give and their associated benefits.
- Cash, Check, or Credit Card
- Gifts of Appreciated Securities: Stocks, Bonds, Mutual Funds, and Other Assets
- Closely Held Business Stock
- Life Insurance
- Tangible Personal Property: Artwork, Collectibles, and Other Items
- Retirement-Plan Assets
- Real Estate
Gift Planning officers are happy to discuss with you and your advisors creative ways of giving various assets to Georgia Tech.
Please note: The federal estate tax is currently back in effect through the end of 2012. The top tax rate is now 35%, and the exclusion amount is $5,120,000 per person and $10,240,000 per married couple. Any exclusion amount not used by a spouse who dies after December 31, 2010, is portable and generally may be used by the surviving spouse. It is very important that you seek the advice of your estate-planning attorney to determine what changes, if any, need to be made to your existing estate plans.