Planned Giving
Giving to APSU can be done either directly or through a gift model that can provide tax benefits and even income.
BEQUESTS
An excellent way for you to support Austin Peay State University's mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during you life. Another benefit is that you are able to leave a lasting legacy. See the bottom of this page for sample bequest language.
Types of Bequests
Specific Bequest |
A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to Austin Peay State University. |
Percentage Bequest |
Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Austin Peay State University. |
Residual Bequest |
A residual bequest is made from the balance of an estate after the will or trust has given aways each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Austin Peay State University. |
Contingent Bequest |
A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Austin Peay State University. |
BEQUEST BENEFITS
A bequest is generally a revocable gift, which means it can be changes or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
GIFTS OF STOCKS AND BONDS
Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to APSU.
GIFTS OF REAL ESTATE
Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to APSU.
GIFTS OF RETIREMENT ASSETS
Donating part or all of your unused retirement assets such as a gift from your IRA, 401(k), 403(b), pension or other tax-deferred plan is an excellent way to make a gift to APSU.
GIFTS OF INSURANCE
A gift of your life insurance policy is an excellent way to make a gift to APSU. If you have a life insurance policy that has outlasted its original purpose, consider making a gift of your insurance policy. For example, you may have purchased a policy to provide for minor children, and they are now financially independent adults.
IRA ROLLOVER
Congress has enacted a permanent IRA charitable rollover. As a result, you can make an IRA rollover gift this year and in future years.
BENEFICIARY DESIGNATION GIFTS
You can designate us as a beneficiary of a retirement, investment, or bank account or your life insurance policy.
CHARITABLE GIFT ANNUITY
You transfer your cash or appreciated property to our organization in exchange for our promise to pay you fixed payments (with rates based on your age) for the rest of your life.
CHARITABLE REMAINDER UNITRUST
You transfer your cash or appreciated property to fund a charitable remainder unitrust. The trust sells your property tax free and provides you with income for life or a term of years.
CHARITABLE REMAINDER ANNUITY TRUST
You transfer your cash or appreciated property to fund a charitable remainder annuity trust. The trust sells your property tax free and provides you with fixed income for life or a term of years.
CHARITABLE LEAD TRUST
You fund a trust that makes gifts to us for a number of years. Your family receives the trust remainder at substantial tax savings.
SALE AND UNITRUST
You give a portion of your property to us to fund a charitable remainder trust, and when the property sells, you receive cash and income for life.
GIVE IT TWICE TRUST
You provide your children with a stream of income while making a gift to APSU.
LIFE ESTATE RESERVED
You give your property to our organization but retain the right to use the property during your life.
UNITRUST
Enjoy increased income with tax-free sales plus charitable tax deduction.
BEQUEST LANGUAGE
BEQUEST LANGUAGE
In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Austin Peay State University in your estate plan. We have provided some basic bequest language to assist you and your attorney.
1. Specific Bequest: If you are considering making an outright bequest to Austin Peay State University, we recommend the following language:
Bequest of a Specific Dollar Amount |
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, for Austin Peay State University's general use and purpose. |
Bequest of Specific Personal Property |
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, for Austin Peay State University's general use and purpose. |
Bequest of Specific Real Estate |
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, for Austin Peay State University's general use and purpose. |
2. Percentage Bequest: If you are considering making a request of a percentage of your estate to Austin Peay State University, we recommend the following language:
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, for Austin Peay State University's general use and purpose.
3. Residual Bequest:
I hereby give, devise and bequeath to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for Austin Peay State University's general use and purpose.
4. Contingent Bequest:
If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to Austin Peay State University, a nonprofit organization located at P.O. Box 4417, Clarksville, TN, 37044, Federal Tax ID #62-0961836, DESCRIPTION OF PROPERTY to be used for Austin Peay State University's general use and purpose.
RESTRICTED BEQUESTS
If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We will be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you an your attorney to craft language to accomplish your goals.
If you are making a restricted bequest, we recommend that your attorney include the following provision to give Austin Peay State University flexibility should it no longer be possible for Austin Peay State University to use your gift as you originally intended:
If, in the judgement of the Board of Trustees (Board) of Austin Peay State University, it shall become impossible for Austin Peay State University to use this bequest to accomplish the specific purposes of this bequest, Austin Peay State University may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.
CONTACT US
For questions or to learn more about planned giving, please complete this form or contact us at (931) 221-7127 or advancement@apsu.edu.
If you have included a bequest for Austin Peay State University in your estate plan, please let us know. We would like to thank you and recognize you for your gift.