Did you know that many of the largest transformational gifts to Maryville College have been estate gifts ? Estate gifts support Maryville College in the future through charitable bequests, trusts, and gift annuities.  Moreover, you can join MC's prestigious Society of 1819 when you include Maryville College in your estate plans. Estate gifts can be of any size and can be as specific as a particular item or dollar amount or as general as a percentage of the residual of your estate.

Download a Society of 1819 brochure

Download a Society of 1819 enrollment form

You can support Maryville College for years to come by making a charitable bequest.  A charitable bequest is not subject to estate or inheritance taxes, so it may significantly reduce the tax burden of your estate. Most importantly, your gift will support MC's mission into the future.  Please find below sample bequest language to review with your attorney to include in your will or trust.

Unrestricted Gift

I give to Maryville College in Maryville, Tennessee the sum of $_________ (or _____ percent of my estate; or the property described herein) for its general purposes.

Restricted Gift

I give to Maryville College in Maryville, Tennessee the sum of $_________ (or _____ percent of my estate; or the property described herein) for the use and benefit of its __________ (e.g. History Department OR to be used to endow the John and Mary Smith Endowed Scholarship Fund with preference for students majoring in Biology). 

Residuary Gift

All the rest, residue, and remainder of my estate, both real and personal, I give to Maryville College in Maryville, Tennessee for its general purposes (or describe a specific purpose).

Contingency Gift

I devise and bequeath the residue of the property owned by me at my death, real and personal, and wherever situated, to my husband (or wife), ______________, if he (or she) survives me. If my husband (or wife) does not survive me, I devise and bequeath my residuary estate to Maryville College in Maryville, Tennessee for its general purposes (or describe a specific purpose).

Charitable Remainder Trusts

You can name Maryville College as the remainder beneficiary of a trust.  You transfer cash or property into a trust which is managed by a trustee.  The trustee makes payments to beneficiaries according to the terms you state.  The remainder of the trust goes to Maryville College in the future.  You get a federal income-tax deduction for the projected charitable remainder value of your gift, and there are no capital gains taxes when the trust property is sold. 

Example: John and Mary Smith, age 65, purchased stock for $25,000 twenty years ago. It is now valued at $100,000, but the annual dividends are only $1,500. In order to supplement their retirement income, they transfer the stock to a charitable remainder unitrust with a 6% payout rate.  In the first year, they receive a $6,000 payment — four times the dividends they had been receiving.  Moreover, the payments will increase in time if the assets of the unitrust appreciate in value.  Furthermore, there are no capital gains taxes on the transferred stock, and John and Mary receive an income-tax deduction of approximately $29,000. In their 33% tax bracket, they save $9,570 in income taxes (33% of $29,000).

Please contact Marsha Wynn at 865-981-8204 or via email at marsha.wynn@maryvillecollege.edu for more information and examples.

Charitable Gift Annuities

You can establish a charitable gift annuity by making a gift to Maryville College in exchange for receiving a fixed annual dollar amount for life. The principal remaining at your death will then benefit any Maryville College program that you choose.  You get a federal income-tax deduction for the projected charitable remainder value of your gift, and capital taxes will be significantly reduced if you use appreciated property to fund the gift. 

Example: John Smith, age 75, gives $25,000 in cash to Maryville College in exchange for a gift annuity. He receives an income-tax deduction of $11,040 based on his age. He will begin receiving income checks of approximately $1,575 each year for the rest of his life. When he passes away, the remaining principal will benefit Maryville College.

Please contact Marsha Wynn at 865-981-8204 or via email at marsha.wynn@maryvillecollege.edu for more information and examples.

Charitable Lead Trusts

A charitable lead trust can be used to transfer assets to children or others at a significantly reduced tax liability. The trust makes a fixed payment to Maryville College for a specified term. After the trust term ends, the assets of the trust are either returned to you or passed on to children or other beneficiaries. If the assets are to be returned to you, you receive an income tax deduction when the trust is created. If the assets are passed on to heirs, applicable estate or gift taxes on the value of the gift are reduced or eliminated. The tax savings from a charitable lead trust may allow you to provide significant support to Maryville College at little or no cost to heirs in terms of inheritance.

Example: John Smith, age 75, puts $1,000,000 into a twenty-year charitable lead trust which pays Maryville College $50,000 per year. After twenty years, the remainder goes to Mr. Smith's heirs.  The IRS calculates gift tax only on the present value of the projected remainder interest.  Here, the remainder interest is projected to be $213,000 based on Treasury tables.  However, assuming the trust principle grows at 6% per year, the remainder interest that goes to Mr. Smith's heirs is actually about $1,280,500.  Tax is only calculated on $213,000, which itself may be offset by estate and gift tax credit.

Please contact Marsha Wynn at 865-981-8204 or via email at marsha.wynn@maryvillecollege.edu for more information and examples.