A Smart Gift to Leave to the University of Michigan
Like retirement plan assets, commercial annuities provide for tax-deferred growth while the owner is living. Because distributions from commercial annuities are subject to income taxes, they are often considered among the best assets to leave to a charitable institution. Due to our tax-exempt status, the University of Michigan can receive your commercial annuity completely tax-free. The best way to give a commercial annuity in support of our educational programs and services after your lifetime is to name us as beneficiary.
Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate the University of Michigan as the primary beneficiary for a percentage or specific amount. You can also make U-M the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
- Contact the Office of Planned Giving at 734.615.2022 or firstname.lastname@example.org for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include U-M in your plans, please use our legal name and federal tax ID.
Legal Name: Regents of the University of Michigan
Address: 3003 S. State Street, Ann Arbor, MI 48109
Federal Tax ID Number: Please contact us for our federal tax ID number.