Testamentary Life-Income Gifts
(Complete gift description)

Here is a giving tool that adds extra flexibility to your estate planning. You can provide that a life-income gift — a charitable gift annuity or unitrust — be created and funded by your estate. You make the provisions in your will or revocable trust, and they are carried out by your executor or trustee and Pomona College after your death.

Your estate will receive a charitable estate tax deduction for the gift, based on the value of the transfer minus the value of the beneficiaries' income interest.

The result? You help Pomona College while also benefiting children or other heirs, making one asset do the work of two. You lower the estate tax burden on your estate. You also get help in making special provisions for your heirs, either by providing additional resources for an individual or by limiting that individual to a life income rather than a large outright bequest.

Important considerations

• As with any bequest, a testamentary life-income gift is a revocable, future transfer.  You receive no income tax deduction for the gift you are planning now.
• You can provide for a specific dollar amount to fund the gift, or a percentage of the residue of your estate.
• Testamentary unitrusts can run for the beneficiaries' lifetimes or for a term of years.

For more information

Email us, complete the personal illustration form, or call us at (909) 621-8143 or (800) 761-9899 so that we can assist you through every step of the process.

Pomona College
Trusts and Estates
550 North College Ave
Alexander Hall 235
Claremont, CA 91711
(909) 621-8143 or (800) 761-9899
Fax: (909) 621-8654
pomonaplan@pomona.edu