b'Gifts of Life Insurance Charitable Gift AnnuityA gift of life insurance can provide aA charitable gift annuity is created by a contract between significant charitable deduction. You couldyou and Franklin University under which you make a gift to purchase a new policy or donate a policythe University and the University promises to pay you a fixed that you currently own but no longer need.annual income for your lifetime. Gift annuities may be funded To receive a deduction, designate Franklinwith cash, certificates of deposit, publicly-traded securities, and University as both the owner and beneficiarysimilar assets. You will be entitled to an income tax charitable of the life insurance policy. Check with yourdeduction for part of the value of the assets you transfer to insurance agent for details.the University. A gift annuity may be especially appealing if you want to supplement your retirement income and make a gift to the University. It is also an ideal way to fund a University endowment that can bear your name in perpetuity. The ultimate Life Income Gifts benefit, however, is the satisfaction of knowing that your gift will Life income gifts allow you to increase yourprovide vital future support for students, faculty, or programs income, receive a charitable contributionat Franklin University. (Charitable Gift Annuity (CGA) rates deduction, and avoid capital gains taxes.Ifincrease, effective July 1, 2022).you own stock that is paying low dividends, alife income gift may be an appropriate gift. Stock can be transferred to the UniversityCharitable Lead Trustsand established as a charitable remainder unitrust or a charitable remainder annuityCharitable lead trusts are essentially the reverse of a life income trust that can provide you with a greatergift with the income from the trust being first paid to the annual return. This income would be paid toUniversity. With this trust, assets are transferred to a trustee you and/or a loved one for life, after whichwho makes payments to the University for a specified number the assets would be distributed outright toof years, after which time the assets are transferred to your Franklin University. Through this arrangement,heirs. The charitable lead trust allows you to pass assets on you increase your income while making ato your children and grandchildren either completely free or meaningful (and tax-deductible) contributionsubstantially free of all estate and gift taxes. This approach is to the University. often a good choice for those in top estate and gift tax brackets.'