The following chart will help you determine the gift that is right for you and your individual circumstances. When considering a planned gift, or making a significant gift of any kind, you should always consult with your legal, tax and financial advisor. Michigan Opera Theatre's Planned Giving staff will assist you and your advisor in identifying those opportunities that are right for you.
| Goal |
Gift |
How |
Advantages |
| Make a quick gift |
Outright gift |
Donate cash, securities or other personal property to charity |
Income tax deduction; avoid long-term capital gains tax; reduce estate tax liability |
| Give your personal residence but reserve life tenancy |
Retained life estate |
Deed ownership to charity but retain life tenancy |
Charitable income tax deduction and lifetime residency |
| Give a gift only after your lifetime |
Bequest |
Leave a charitable gift in your will |
Estate tax deduction for value of gift |
| Avoid double taxation on retirement assets |
Gift of qualified retirement plans, including IRAs |
Name charity as beneficiary of 100% of the balance |
Avoid deferred income tax and estate tax |
| Avoid capital gain tax on the sale of residence or other real estate |
Real estate gift |
Donate the residence or real estate to charity or sale at bargain price |
Immediate income tax deduction
Avoid capital gain tax.
|
| Make a meaningful gift at little cost to yourself |
Life insurance gift |
Designate the charity as owner and beneficiary |
Immediate income tax deduction |
| Make a gift that provides income without the legal fees of trusts |
Pooled income fund |
Make a contribution to a pooled income fund |
Income for life and partial income tax deduction in the year the gift is made |
| Make a gift that can be revoked during your lifetime |
Living trust |
Name charity as beneficiary of assets listed in a living trust |
Control of assets and trust during your lifetime
Possible estate tax savings
|
| Secure a fixed income |
Charitable Remainder Annuity Trust |
Create a charitable trust that provides you with a fixed income |
Immediate income tax deduction
Fixed income for life
Avoid capital gains tax
|
| Create long term hedge over inflation |
Charitable Remainder Unitrust |
Create a trust that provides percentage of assets of trust, valued annually |
Immediate income tax deduction
Annual income for life
Avoid capital gains tax
|
| Give income to charity but retain principal heirs |
Charitable Lead Trust |
Create a charitable lead trust |
Income tax deduction for income donation
Federal estate tax savings when asset returned to heirs
|
Please call Kim-Lan Trinh, Associate Director of Development, Planned Giving & Major Gifts, at 313-237-3408, or email ktrinh@motopera.org, for more information and assistance.
