Leave Your Legacy?Twice

If you are in a position to stop receiving payments from a charitable life income gift, you can benefit from an additional income tax charitable deduction.

You may be one of our many generous donors who have created a life income gift, which provides payments back to you in exchange for a donation. You probably also received a generous income tax deduction based on the portion of the gift that we're expected to receive in the future.

However, some of you have found that you no longer want or need the payment streams these gifts have been providing you. If you find yourself in this situation, you may decide to give up the right to the payments and instead direct those payments back to our organization to enhance your support. Doing so will entitle you to even more income tax savings.

For more information, please contact your legal advisor or the College of the Holy Cross at (800) 340-GIFT or (508) 793-2379 or aalvarad@holycross.edu.

The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.