Lehigh University:

How can a wealth replacement plan allow me to give to Lehigh as well as my heirs?

You can make a substantial gift to Lehigh and still preserve your estate for your heirs though Lehigh's wealth replacement option. A sample wealth replacement plan below describes how you can preserve the estate destined for your heirs and also provide a substantial gift to Lehigh:
• Low yielding appreciated property or cash is contributed to Lehigh as a life income gift.

• You receive a federal income tax deduction for a part of the gift value in the year of the gift.

• Lehigh pays a lifetime income to you and/or your surviving spouse.

• An insurance policy on your life is financed from some of the tax savings and some of the lifetime income provided by the charitable gift. Your heirs are named owners and beneficiaries.

• Upon your death and/or that of your spouse, your heirs receive the insurance proceeds free of transfer tax and your surviving spouse continues to receive the life income.

FREQUENTLY ASKED QUESTIONS ABOUT LIFE INCOME GIFTS
• What life income gift vehicles are available?
• How much should I give?
• Which is the best asset to give?
• Should my gift be restricted or unrestricted?