Leave a Legacy
Planned Giving is a source of tremendous personal satisfaction that can leave a permanent reminder of how you live and what you love. When giving is planned, thoughtful and purposeful, it can create a lasting legacy for future generations of MTC students that might include your family members.
What is Planned Giving?
It’s a gift that is planned today and realized at a later date. Some people assume you have to be rich to do “estate planning,” but that’s not true.
Planned giving is “philanthropy for all of us” and the economic and tax benefits associated with it can make it affordable and attractive to people from all walks of life. You can make a legacy gift that costs nothing today and may even ease estate tax issues for your loved ones.
Planned Giving is purposely designating money or other assets that will come to MTC through:
- A bequest in your will or trust
- Life insurance
- Retirement assets such as a 401K or 403B
- Stocks or other personal property
You may have more power than you think to make a difference, because including MTC in your estate plan is a way to give without impacting your current cash flow.
You don’t need a lawyer or accountant to make a planned gift that transforms tomorrows for the students at Midlands Technical College. Just call the MTC Foundation at 803.732.5222, and we can walk you through the options.
- Gifts Anyone Can Make
• Bequests – Naming the MTC Foundation as a beneficiary of your will or living trust is an easy way to make a significant gift that does not affect your cash flow. To further simplify the process, we can provide you and your attorney with the necessary language to include in your will.
• IRA Qualified Charitable Distribution (QCD) – If you have an IRA and are 70 1/2 or older, you can donate tax-free from your IRA. You can transfer up to $100,000 annually to MTC and pay no taxes. This may also help you meet your Required Minimum Distribution, thus lowering your taxable income. Best of all, it is very easy!
• Life Insurance – By gifting a whole-life insurance policy that you or your family no longer needs, you can take an immediate deduction for its cash value, and deduct future premium payments, if any.
- Gifts That Pay You Income
A Charitable Remainder Trust allows you to make a significant gift to MTC now while providing payments to one or more people, including yourself. This kind of trust is simple to set up, and it is flexible in how it must be funded and in how payments are made.
- Gifts That Protect Your Assets
A Charitable Lead Trust allows you to greatly reduce or even completely avoid gift and estate tax on assets passed on to your family by placing them in a trust and directing enough of the income to MTC over a period of years. At the end of the trust term you, your family, or others receive the remaining assets.
- Join the Legacy Society
MTC’s Legacy Society honors a dedicated group of Midlands Technical College friends and alumni who have included the MTC Foundation in their estate plans. When you share your plans for a gift with the MTC Foundation, you become part of this recognition society, even if you choose to remain anonymous. Members enjoy special recognition as well as an annual reception with the college’s president.
- Include MTC in your will or trust
Including MTC in your estate plans is easy. Share the following language with your estate planning attorney to add the Midlands Technical College Foundation in your estate plans and then let us know that we are part of your legacy.
I give, devise and bequeath to the Midlands Technical College Foundation, a non-profit corporation existing under the laws of the State of South Carolina __________(percent of my estate, dollars, property, securities, etc.) to be used for ___________(however you wish your gift to be used) for Midlands Technical College.
Want More Information?
Please reach out to us. We can help.