“What is a Bequest?”

The easiest and most common method of charitable gift planning is making a bequest through your will. A bequest is a gift of property or assets to a beneficiary as defined in a will. Whether you wish to donate your entire estate, a portion of your estate, a fixed dollar amount, or a percentage of your assets, bequests are easy to make.

• Types of Bequests:

Unrestricted: allows Classical KUSC to direct your gift where it is needed the most.
Restricted: permits Classical KUSC to use your gift in the manner you designate, such as a specific area of interest (news, talk programming, music, equipment, etc.).
Specific Bequest: gives a specific asset to Classical KUSC, such as cash, securities, or property.
Residuary Bequest: gives all or a percentage of what remains in your estate to Classical KUSC after all other specific bequests have been satisfied and all debts and expenses have been paid.
Contingent Bequest: gives all or a portion of your estate to Classical KUSC when a named individual beneficiary dies before you. For example, give $10,000 to my cousin Mary, but if she does not survive me, the bequest should be given to Classical KUSC.

How to Include Classical KUSC in Your Will or Living Trust. Naming Classical KUSC in your will or living trust can be one of the simplest ways to support the station. When making a gift by will or revocable trust to Classical KUSC, we recommend the following language:

“I hereby give to Classical KUSC, by way of the University of Southern California, a California not-for-profit corporation, with its principal place of business at Los Angeles, California: The sum of $__________________ .
The following described property: ____________________________________________________________
______________ % of the residue of my estate.”

When you decide to name Classical KUSC in your will, please notify Minnie Prince at 213-225-7534 or mprince@kusc.org. We will provide you with any additional information and include your name amongst the membership of Classical KUSC's Legacy Society. Members of the Legacy Society will also receive exclusive donor benefits. All inquiries will be handled in confidence.

Gift annuities are probably the most popular planned giving vehicles after bequests. It is a combination of a gift and an investment. A charity accepts a contribution and agrees to pay the donor (annuitant) and/or another recipient a fixed and specified dollar amount each year. The charity pays this amount to the donor from its assets. So, not only would you receive a fixed income for the rest of your life, you can also take a tax deduction if you itemize deductions on tax returns.

The rate of return is based on the age of the donor. Annuity rates are typically higher for older annuitants and lower for younger annuitants, based on life expectancy. Rates are also adjusted according to the number of annuitants, with rates for two-life contracts often lower due to the extended life expectancy. The age of a recipient is the age reached at the nearest birthday, and rates are the same for men and women.

In short, charitable gift annuities are an excellent method of achieving your philanthropic goals and gaining substantial tax benefits. Before you establish a charitable gift annuity, it is best to consult knowledgeable professionals. Classical KUSC can help answer any questions and provide you with a complementary proposal of gift annuity scenarios, in confidence, and with no obligation. For more information, contact Minnie Prince at 213-225-7534 or mprince@kusc.org.

When you first bought a life insurance policy, you probably hoped to ensure the financial stability of your family should something happen to you or your spouse. Have your circumstances changed since then? Life insurance can be a tool with many purposes. For example, it can provide funds for paying taxes and other expenses at death. But, believe it or not, some of the most satisfying uses for life insurance policies are connected with charitable giving!

If you have a life insurance policy you no longer need, you might consider using it to support Classical KUSC. Purchasing a new policy and naming Classical KUSC as beneficiary is another possibility. Please contact us for specific language to use if you are interested in either of these options. Donation of life insurance policies can make a significant future charitable contribution feasible and affordable, especially for younger donors. We can arrange for you to talk with a planned giving specialist who can review your specific needs and wishes and help you craft a plan that works for you and your heirs and allows you to support the work of Classical KUSC. For more information, contact Minnie Prince at 213-225-7534 or mprince@kusc.org.

Donating marketable real estate can be a creative way to make a significant gift to Classical KUSC and at the same time receive important tax benefits and even income. Any type of real estate can be donated to a non-profit organization: a home or farm, a vacation or second home, an apartment or commercial building, a shopping center, or undeveloped/vacant land. The benefits include a charitable income tax deduction, avoidance of capital gains tax on the property's appreciation at the time the gift is made, and removal of the property from your estate, potentially reducing estate taxes and probate costs. Donating your property can also relieve you of the burden of managing or selling the property.

Each piece of property and its unique circumstances need to be reviewed to determine the suitability of the property as a gift to Classical KUSC. Also, there are many ways to donate property such as an outright gift, a retained life estate, or a trust. For information, contact Minnie Prince at 213-225-7534 or mprince@kusc.org.

While it is challenging to find one single way to achieve all of your personal and financial goals, there is one strategy that can meet many of your needs the charitable remainder trust. This vehicle can be customized to meet your specific needs and wishes while ultimately providing Classical KUSC with very important support.

There are two types of charitable remainder trusts:
Unitrust: The income you receive is a set percentage of the value of the trust's assets, which is revalued each year.
Annuity trust: Income payments are fixed and determined when the trust is set up.

If you are interested in learning more about how a charitable trust might fit into your personal estate plan, please contact Minnie Prince at 213-225-7534 or mprince@kusc.org.

If you have already made a planned gift to Classical KUSC, we would like to thank you and show our appreciation! Please notify us of your gift by contacting Minnie Prince at (213) 225-7534 or email mprince@kusc.org Not only do we want to make sure your intentions are carried out properly, but we would love the opportunity to thank you and welcome you to the Legacy Society, a growing group of dedicated listeners who have made such special gifts.