Living Trusts

Many people use a revocable living trust to manage their assets while they live.  The trust may also continue after death, distributing assets and managing them for loved ones.

You can also make gifts to Loyola Academy with a living trust.  You can arrange for a yearly charitable gift to Loyola Academy out of the earnings of the trust.  And, upon your death, you may simply want to bequeath all or part of the remaining assets in the trust as a charitable gift to Loyola Academy as well.

Charitable Lead Trusts

The Charitable Lead Trust is essentially the opposite of the remainder trusts.  Instead of you, the donor, receiving income back from the trust, in a lead trust, Loyola Academy receives the income interest for a specified number of years.  At the end of the trust, the remaining principal is returned to the donor or, more commonly, another family member.  The income that is paid to Loyola Academy may be either a fixed amount (an annuity trust) or a fixed percentage of the annual value of the trust (a unitrust).  At the time the trust begins, you or your estate will receive a charitable gift or estate tax deduction for the percentage payable to Loyola Academy .

A lead trust can be especially valuable in estate planning, because although income tax benefits of such a trust are often minimal, the estate and gift tax savings may be significant.  Therefore, a charitable lead trust is often set up to begin upon the death of the donor.  It may have extra value to family members when the assets are likely to appreciate substantially in value over the life of the trust.

Tangible Personal Property

Over the years, many individuals have given art work, book collections, and other types of personal property to Loyola Academy .  A gift of this nature involves various regulations and we would be very happy to discuss your particular situation in detail.

Life Insurance

Quite often people find that they have more life insurance than they really need.  A gift of a life insurance policy, one that is paid up or one with premiums still due, makes a very good charitable gift.  And the gift can be easily made by naming Loyola Academy as both the beneficiary and owner of the policy.  You may even want to purchase a new policy to give to Loyola Academy .

Normally, your charitable deduction will be approximately the cash value of the insurance policy at the time of the gift.