Making a Gift of Your Life Insurance
By naming Calvin as the beneficiary of your life insurance, or by donating a paid-up life insurance policy to Calvin, you can multiply the value of your gift many times over.
To make a gift of life insurance to Calvin, you can:
- Name Calvin as either a primary or secondary beneficiary in your life insurance policy. Work directly with your insurance company to do this, but don’t forget to let us know so we can include you in the William Spoelhof Society.
- Give Calvin your already paid-up life insurance policy and receive a tax deduction for an asset you may no longer need.
- Choose to have Calvin act as the owner and manager of a life insurance policy in which you’ve named Calvin the beneficiary.
Making a Gift of Your Real Estate
Giving real estate to Calvin College can be a great way to make a charitable gift and avoid capital gains taxes on property that has significantly appreciated in value. You may choose to make an outright gift of real estate to Calvin or establish an income-producing planned gift like a charitable remainder trust.
Before you begin the process of selling your real estate, contact the Office of Gift Planning to discuss your options with a Calvin representative. We will help you with the necessary paperwork so that you and Calvin receive the full benefit of your gift.
Making a Gift of Your Retirement Assets
Giving from your investment in a retirement plan can be one of the best planned gifts you can make. While retirement assets passing to children or grandchildren would normally be subject to estate and income taxes possibly exceeding 70 percent of the plan, you can avoid these taxes by directing these funds to Calvin.
Your retirement plan might be an IRA, a 401(k), a 403(b), a TIAA CREF account, a profit-sharing plan or another plan your employer has set up for you, but whatever the case, you should speak with your plan administrator (e.g. your bank, your employer) to give your retirement assets to Calvin. We would be happy to help you make these changes.
Membership in the William Spoelhof Society
If you have included Calvin College in your planned giving arrangements, complete an online form, or contact the Gift Planning Office at (800) 968-4363 or (616) 526-8719 and we will include you in The William Spoelhof Society.
