The plan that is most common and is appropriate for any age is a simple will or living trust. A living trust will help you avoid probate and provide assurance that your wishes will be honored. If you have appreciated assets such as stock and/or real estate, a charitable trust can help you avoid taxes while providing a stream of income for you. Regardless of your situation, Biola’s gift planning team is equipped to help you with all of your planning needs.
Consider the Following Options:
Ensure gifts for your heirs and for ministry
If your estate is valued at under $100,000 or if you live in a state where you can transfer real estate through a beneficiary designation, you may be able to record your estate plan through a simple will.
Determine if a simple will is right for you: receive a complimentary review.
Establish your plan without the hassle of probate
If you own real estate (including your primary residence) and live in a state that does not allow you to transfer that real estate through a simple beneficiary designation, you will likely be better served by the creation of a living trust.
Determine if a living trust is right for you: assemble information and request a complimentary review.
Guaranteed fixed income for life with a generous gift to Biola
If you have readily marketable assets that pay no return (stock, cash, etc.) a Biola gift annuity could be right for you. A Biola gift annuity provides gauranteed income for life, some of which is tax-free. It also provides an immediate charitable tax deduction. In this plan, you gift the asset to the University and, upon acceptance, you are issued a contract, which is secured by the University's assets.
The rate of return is based on your age. This can be a vital step in your retirement planning, in that it provides a fixed income component to your portfolio.
How do I establish a Biola gift annuity?
Avoid capital gains and receive life income
A charitable remainder trust (CRT) allows you to gift an appreciated asset to Biola in exchange for lifetime income. The benefits of a CRT include: avoidance of capital gain, regular monthly income, a charitable tax deduction and a long-term investment in the mission of Biola University.
To determine if a charitable remainder trust is right for you, contact Biola's Office of Planned Giving.
Gifting interest earned on an investment
A charitable lead trust (CLT) involves "loaning" an asset to the University for a term of years whereby the University receives the income from that investment. At the conclusion of that term, that asset is returned to the donor who receives various charitable tax benefits.
To determine if a charitable lead trust is right for you, contact Biola's Office of Planned Giving.
This calling will remain strong because of the continued generosity of the Biola community. Future charitable distribution through your giving plan will benefit God’s work at Biola and often reduce or eliminate taxes that would otherwise be paid by your heirs.