Convert Assets to Income
For You and Michigan Tech
Imagine you are an apple grower who wants to make a charitable gift. After considering many possibilities, you come up with the perfect plan: you will donate part of your apple orchard, but continue throughout your lifetime to receive the apples that grow on those trees.
That is a life income gift—an effective way to contribute assets to the Michigan Tech Fund while still keeping an income for yourself and others. There are three basic types of life income gifts:
Selecting the best option depends on your age, assets, and income objectives.
Contact the Office of Gift Planning for more information.
Benefits of Life Income Gifts
- Immediate income tax savings
- No immediate capital gains tax on gifts of appreciated assets
- May increase your current income by converting low-yield assets
- Can diversify large holdings of assets
- Removes assets from your taxable estate
- Ensures assets are professionally managed
- Residual assets will support the Michigan Tech program of your choice