Iron Dukes Heritage Society

Courtesy: Iron Dukes
Release: June 23, 2016
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The Iron Dukes Heritage Society honors alumni and friends who have included Duke Athletics in their estate plans or have made some other type of planned gift to Duke Athletics. Members are invited to recognition events and are counted among the university's most valued supporters.

Deferred or Planned Gifts
While outright gifts provide vital resources for the university today, deferred gifts help shape Duke's future. A deferred gift to Duke Athletics can be a useful financial planning tool and may help you:
• realize immediate tax savings
• generate a life income for yourself and/or your loved ones
• transfer assets to loved ones with a reduced tax liability
• reduce or eliminate income, capital gains, or estate taxes
• make a more significant gift than you imagined possible

Will or Revocable "Living" Trust
The most common form of deferred gift is a bequest contained in a person's will or revocable (living) trust. Because detailed language may be necessary to ensure a donor's wishes are followed, please contact the Iron Dukes office for further assistance.

Life Income Gifts
Charitable gift annuities, charitable remainder trusts, and pooled income funds are all forms of life income gifts. These gifts provide philanthropic support for Duke Athletics while also providing both a charitable income tax deduction and an income stream to you and/or your loved ones.

Charitable Lead Trusts
A charitable lead trust can be used to transfer assets to children or others at a significantly reduced tax liability. The trust makes a fixed payment to Duke Athletics for a specified term, measured either by someone's life or a selected number of years. After the trust term ends, the assets of the trust are either returned to you or passed on to children or other loved ones. The tax savings from a charitable lead trust may allow you to provide significant support for Duke Athletics at little or no cost to heirs in terms of ultimate inheritance.

Life Insurance
You can name Duke Athletics as a primary or contingent beneficiary of a life insurance policy. If Duke Athletics is named both sole owner and beneficiary of a paid-up policy, you may receive an immediate charitable deduction for the lesser of the policy's fair market value and the net premiums paid.

Retirement Plans
Naming Duke Athletics as a primary or contingent beneficiary of a retirement plan (e.g. IRA, SEP, 401(k), 403(b), ESOP, etc.) may enable you to make a larger gift than you anticipated because income and estate taxes are not imposed when plan assets are distributed to Duke Athletics.

Retained Life Estate in Property
You may generate a current income tax deduction by giving a home or farm to Duke Athletics, while retaining the right to use the property during your lifetime. The property will also be removed from your taxable estate.

To learn more about these gift plans - and to access examples, sample rates, and a gift planning calculator - visit