Frequently Asked Questions

What is gift planning?

Gift planning includes a variety of programs to fulfill your philanthropic goals while simultaneously benefitting yourself, your family, or others. It can be an important part of your estate planning.

Why should I have an estate plan?

Everyone needs an estate plan to ensure ultimate control over the distribution of assets. Estate planning benefits families in several other ways:

  • Establishes a clear vision of family values.
  • Eliminates confusion over assets and property.
  • Fulfills charitable objectives.
  • Reduces estate, and often income, taxes.
  • Maximizes value for both family members and charities.

What should I do to create an estate plan?

Here are some simple steps to follow:

  • Determine which people and institutions you want to remember in your plan.
  • Review your assets.
  • Contact the Gift Planning Office for suggestions and strategies to optimize the effect of your charitable giving.
  • Speak with your advisors about your ideas.
  • Create a plan that meets your goals.
  • Update your plans as your goals and circumstances, as well as tax laws, change.

How do gift plans fit into my estate plan?

Gift plans allow you to define and meet your philanthropic goals. They can also reduce potential estate and gift taxes. Depending on the gift plans you choose, they can also provide you and your loved ones income for life (see Life Income Plans) or transfer assets in a tax-advantaged way (see Charitable Lead Trusts).

How do I choose which gift plan is right for me?

Once you have established your personal financial and charitable goals, the Dartmouth Gift Planning staff can help you think through your options. For example, if you wish to take advantage of current income tax deductions while still receiving income, a gift annuity or charitable remainder trust may be the best solution. Perhaps you have been thinking of a gift of your home as a way to make a worthwhile charitable contribution, but you don't really want to move. A gift of a remainder interest in your home to Dartmouth would allow you to receive a current income tax deduction, reduce the value of your taxable estate, and allow you to continue living where you are most comfortable. There are a number of ways to structure a gift plan to meet each individual situation. The Gift Planning Office can provide detailed suggestions for an appropriate gift to meet your goals.

Can I designate how Dartmouth will benefit from my gift plan?

Yes. Although the ideal gift to Dartmouth is unrestricted, we are happy to work with you if you wish to specify a particular program or activity at Dartmouth for support. We can help you identify specific areas of support and provide suggested language to be included in gift plan documents to assure that your objectives will be met.

Can I support other charities through a Dartmouth gift plan?

Yes. Certain gift plans give you the ability to benefit Dartmouth and other charities simultaneously. If you would like to do this, please contact us for more information.

Can I rollover an IRA directly to Dartmouth?

The Taxpayer Relief Act of 2012 extended the Charitable IRA Rollover through 2013. Individuals who are 70.5 years or older can make tax-free distributions from their IRAs to Dartmouth (or other charitable organizations). To be qualified, any such contribution must be made directly from your IRA to Dartmouth. Any qualified contribution up to $100,000 will count toward an individual's required minimum distribution. Transfers must be made before January 1, 2014Learn more>>