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Gift Planning

Contact

Scott Park

Assistant Vice President for Legacy Gifts

Office of Advancement

2 East South Street

Galesburg, IL

61401-4999

309-341-7459

sapark@knox.edu

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Grantor Lead Trust

Grantor Lead Trust Diagram

How It Works

  1. Create trust agreement stating terms of the trust (usually for a term of years), transfer cash or other property to trustee, and receive an income-tax deduction
  2. Trustee invests and manages trust assets and makes annual payments to Knox
  3. Remainder transferred back to you

Benefits

  •  Annual gift to Knox
  •  Property returned to donor at end of trust term
  •  Professional management of assets during term of trust
  •  Charitable income-tax deduction, but you are taxed on trust's annual income

Next Steps

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