How it works
- You contribute cash, securities or other property to a trust.
- The trust makes fixed annual payments to MICA for a specified term of years.
- When the trust ends, the remaining principal goes to your heirs.
- You qualify for a gift tax deduction for the present value of the annuity payments to MICA.
- The annuity payments and the term of the trust can be specified in such a way so as to reduce or even eliminate the transfer taxes due when the principal reverts to your heirs.
- All appreciation that takes place in the trust goes tax-free to your heirs.
- You can use your available estate tax credit ($1.5 million per person in 2004; $2.0 million per person beginning in 2006) to further reduce taxes on transfers to your heirs.
- You can have the satisfaction of making a significant gift to MICA now that reduces the taxes due on transfers to your heirs later.
Need more assistance?
Some gift arrangements have minimum age and contribution guidelines to help us be wise stewards. Contact the Development Office for more information about your particular situation. We look forward to helping you.
Alison Wainwright Davitt
Associate Vice President for Development & Constituent Relations
Office Telephone: 410-225-4219