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An easy and affordable way to support ºìÐÓÊÓƵ is through a Beneficiary Designation Gift, which designates ºìÐÓÊÓƵ ºìÐÓÊÓƵ as the beneficiary of a retirement, investment account, bank account or life insurance policy.

A Beneficiary Designation Gift is an excellent option that allows you to direct support to the area of your choosing, retain access to your funds during your lifetime, reduce taxes on income passed to heirs and potentially reduce estate taxes. You do not need to consult an attorney for set-up, can support ºìÐÓÊÓƵ ºìÐÓÊÓƵ while also supporting other heirs and can adjust the gift throughout your lifetime if your circumstances change.

To make a Beneficiary Designation Gift, contact your broker, bank or insurance agent to request a new beneficiary designation form and complete, sign and return the form - keeping a copy for your records – that designates ºìÐÓÊÓƵ ºìÐÓÊÓƵ as a beneficiary of your account or insurance policy. Once complete, contact us at giftplan@kent.edu or 330-672-1000 to inform us that you have included ºìÐÓÊÓƵ ºìÐÓÊÓƵ in your estate plan. Upon your passing, your account or insurance policy will be paid or transferred to ºìÐÓÊÓƵ ºìÐÓÊÓƵ in keeping with the wishes you outlined in the beneficiary designation form.

A Charitable Lead Trust is a great way to support ºìÐÓÊÓƵ ºìÐÓÊÓƵ now while reducing or eliminating the estate taxes your family will pay upon your passing.

When you establish a charitable lead trust, you will receive a gift or estate tax charitable deduction for your gift. The gift is invested and continues to grow while paying ºìÐÓÊÓƵ ºìÐÓÊÓƵ for a number of years. After a period of time, your family receives the trust assets plus any additional growth in value at a reduced or zero cost. 

This is the only type of planned gift that can be used by ºìÐÓÊÓƵ to fund capital projects.

There are various types of lead trusts to choose from and the minimum amount to fund a charitable lead trust varies. 

Please contact us at giftplan@kent.edu or 330-672-1000 to discuss the best option for your needs or with any other questions. 

A life estate is when you leave your home or farm to ºìÐÓÊÓƵ upon your death while receiving a charitable tax deduction in the current year.

Establishing a life estate that benefits ºìÐÓÊÓƵ allows you to retain use and control of your home or farm throughout your lifetime and for the life of a designated heir. You agree to maintain the property and continue to pay home insurance and property taxes during your lifetime. Upon your passing and the passing of any additional designated heir, ownership of your home or farm will then transfer to ºìÐÓÊÓƵ to use or sell in accordance with the purpose stipulated in your life estate.

Please contact us at giftplan@kent.edu or 330-672-1000 to discuss establishing a life estate or with any other questions.

A gift of life insurance can be made in two different ways: by making ºìÐÓÊÓƵ ºìÐÓÊÓƵ a beneficiary of your life insurance policy or by transferring ownership of your policy to ºìÐÓÊÓƵ ºìÐÓÊÓƵ. Making a gift of life insurance is easy and only requires you contact your insurance agency.

If you choose to make ºìÐÓÊÓƵ ºìÐÓÊÓƵ a beneficiary of your policy, you can elect for ºìÐÓÊÓƵ ºìÐÓÊÓƵ to become a partial or full beneficiary. And if your needs change in the future, you can choose to update your beneficiaries.

If you choose to transfer ownership of your policy to ºìÐÓÊÓƵ ºìÐÓÊÓƵ, you will receive a charitable deduction for the transfer depending on whether the status is fully or partially paid or is a new policy.

Please contact us at giftplan@kent.edu or 330-672-1000 to discuss establishing a life estate or with any other questions.