A planned gift is a commitment reached after consideration of the comparative benefit of a major outright gift and/or a future expectancy, or a gift involving obligations between the Austin Peay State University Foundation and the donor. Because the documentation and execution of many planned gifts may be complex in terms of protecting both the University and the donor, the director of planned giving must review all documents relating to such gifts prior to execution by the donor. The donor always is advised to seek his or her own outside legal counsel prior to finalizing a planned gift.

Minimum gift amounts and policies for the different types of deferred gifts are as follows:

• Charitable Gift Annuity.  The establishment of a charitable gift annuity requires a minimum gift of $5,000. If the gift is other than cash or publicly traded securities, approval is required by the Foundation Board of Directors for the issuance of the gift annuity.
    
• Charitable Remainder Trust.  A charitable remainder trust (unitrust or annuity trust) will require a minimum gift of $50,000. Unitrusts can be established for less than the minimum amount, provided the donor gives written assurance that the corpus of the trust will eventually exceed the required minimum.
    
• Bequests.   Specific, residual, or contingent bequests will be accepted by the Office of Advancement. A documented (copy of will, portion thereof, or bequest provision form) specific or residual bequest will be counted for recognition as planned giving.
    
• Insurance.  For life insurance to qualify as a tax deductible gift, the Foundation must be both owner and beneficiary of the policy.
    
• Real Estate with Retained Life Interest.  Only residential and farm properties are encouraged as gifts with retained life interest. Retained life interest agreements are required and must outline the rights and privileges of both the donor and the Foundation.

Planned gifts should be carefully considered by the donor in light of estate and financial plans. They may or may not be deferred gifts. Deferred gifts may be income-producing gifts such as charitable remainder trusts, annuities, or pooled income fund gifts. Other deferred gifts include bequests, lead trusts, and life insurance.