Life Stage Gift Planner™
Over Age 70
For the charitably inclined, certain types of gifts can provide solutions to taxing problems:
If you would like to make a substantial gift for NYU Langone but you do not have the current disposable income or assets to do so now, consider a charitable bequest.
Cash, checks, and credit cards
A gift of cash is easy to make, and the gift is not subject to gift or estate tax. A contribution of cash or by a check that is postmarked in December is deductible for that tax year—even if NYU Langone receives it in January—provided the account against which the check was written had sufficient funds to cover it in December. A contribution by credit card must be made by December 31 in order to be deductible for that tax year.
Charitable gift annuity
Support NYU Langone and receive a fixed income for life. In exchange for your gift, NYU Langone will provide payments for life to you or a beneficiary you designate.
Charitable remainder annuity trust
Provides for payment of a fixed-dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5% of the initial fair-market value of the trust.
Gifts of retirement plans at death
Retirement-plan benefits left to heirs are often more highly taxed than other assets. Consider giving them to NYU Langone instead to make a meaningful gift and leave other assets to heirs.
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Disclaimer: The information provided is general in nature and may not apply to all individuals. This information does not constitute legal or tax advice. We urge you to consult with your personal tax, financial, and legal advisors concerning the specific consequences of making gifts to NYU Langone Health. We would be pleased to discuss, in confidence, ways in which you may support NYU Langone Health.