to Wayne State University can:
"Wayne State and my art collection have been very important parts of my life," says Rex Lamoreaux, "and I wanted to provide for the university art collection so that others will be able to enjoy it and learn from it." Mr. Lamoreaux has donated more works of art to the university than anyone else, and established an endowment to maintain the collection.
- Make an impact on the university, its colleges, schools, programs and students.
- Save you taxes—income tax, capital gain tax, gift tax and/or estate tax.
- Provide you and/or another beneficiary with an income now or later during retirement.
- Enable excellent management of your assets, now and after your lifetime.
Wayne State University's planned gifts staff can assist you with estate and gift plan options that take advantage of available tax benefits while providing for your loved ones. Careful estate and gift planning can enable you to fulfill your philanthropic interests far more than you may imagine. Here are some options we can discuss with you:
A Bequest in a Will or Trust stipulates that an amount or a percentage of your estate will be given to the University after your lifetime. Your bequest can be designated to a specific college, school or program, to faculty endowment or scholarships, or it can be unrestricted and used where needed most.
Life-income gifts provide income to a donor and/or another individual age 60 or older. At the end of the beneficiary's lifetime(s), the remainder is given to WSU.
A gift of Retirement Fund Assets is an excellent use of funds that would be heavily taxed if given to an individual—up to 85 percent. After your lifetime, the remainder of your retirement fund can be assigned to Wayne State as an unrestricted gift or designated for a college, school, program, faculty endowment or for student scholarships.
A Gift of Life Insurance. An old policy no longer needed because of the death of the original beneficiary or a newly created policy to benefit Wayne State can be a helpful gift to the university.
Charitable Lead Trusts provide income to Wayne State over a set number of years and then transfer assets to children or other individual(s) named by the donor. This plan enables heirs to receive assets while minimizing taxes.
Other assets that may make helpful gifts while saving taxes include closely held stock, business practices (law, medicine, etc.), partnerships, contracts, leases, royalties and patents.
Please contact the Planned Gifts staff at (313) 577-6481 or (877) 978-4438 to plan for your gift and ensure the university's ability to accept and use it.