Q & A: General Planned Giving Quiz

1. What is the best definition of the term "planned gift"?
C. It is the idea of making a meaningful gift to a charitable organization during life or at death.

2. Which of the following are planned gifts?
D. all of the above

3. One example of an outright lifetime gift is
A. long-term appreciated and readily marketable property given today.

4. Life insurance is a good example of a revocable arrangement for future gifts because death benefits for charity reduce a taxable estate, pass contractually outside of probate and are less subject to contest than bequests BUT the gift does involve large administrative expense or one to two years of red tape.

False. The gift does not involve administrative expense or settlement costs.

5. A charitable remainder trust provides donors the greatest tax advantages. Which of the below is not one of these advantages?
B. future tax deductions every year

6. If one of your financial objectives is to avoid the tax on capital gains, the best gift might be
A. to contribute appreciated stock that you have held for at least a year.

7. If one of your financial objectives is to help put grandchildren through college, the best gift might be
D. to create an education unitrust, making payments to a grandchild for tuition costs.

8. If you have special possessions suitable for a favorite organization's retention and use, you should donate a valuable collection or other tangible objects.
True

9. Other than cash, the simplest and most frequently used alternative gift is

B. a gift of long-term appreciated and readily marketable property, such as stock and real property.

10. You should consider making a planned gift if
D. all of the above

Please contact Mary Ludwig, Development Director at 712-732-5127, for more information.

The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.

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