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Planned Giving
Planned gifts are those you arrange during your lifetime with the benefit to Randolph-Macon deferred to a future date. Some popular planned giving vehicles include bequests, gifts of life insurance, charitable gift annuities, or charitable remainder trusts. These gifts are a vital source of the College’s future financial strength and may also provide donors with substantial tax savings. Planned giving donors are recognized through membership in Randolph-Macon’s Heritage Society.
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Bequests
You may leave a bequest to Randolph-Macon under your will or name the College as the beneficiary of your life insurance policy or retirement account. Bequests continue to account for a major portion of the College’s endowment and provide significant funding for the College’s programs, scholarships, and professorships.
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Life Income Gifts
These gifts provide you or a loved one with income for life, and thereafter, benefit the College. Two popular types of life income gifts are a charitable gift annuity which provides guaranteed, fixed payments for life and a charitable remainder trust which typically provides fluctuating income payments based on the annual value of the trust. When the annuity or trust ends, the remaining assets support the College.
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Gifts of Real Estate
There are several ways to give property to support Randolph-Macon. You can make a gift of a personal residence, vacation home, or farm to the College and retain the right to live in it for your lifetime. A life interest, called a retained life estate, can be retained for your life or the lives of other individuals.
You can also make an outright gift of all or a portion of your interest in property, or use the property to establish a charitable remainder trust and receive income for your life or a term of years.
Click here to read about Charles Layne '52, one of Randolph-Macon's Heritage Society members, and generous supporter of the college.
Updated 5/8/12