Secure 2.0 Act of 2022
If you are 70.5 years+, you can use up to $50,000 from your IRA as a one-time gift to HLS (or to any other charity) for a charitable gift annuity, which will pay you and another if included, an income for your lifetimes.
How does planned giving work?
Planned giving allows you to make a significant contribution to Harvard Law School while also addressing some of your own financial and estate planning needs.
Types of Planned Gifts
- Securities and mutual funds that may reduce your capital gains taxes.
- Life income gifts, such as charitable gift annuities and charitable remainder trusts, that pay you an income during your lifetime while generating a current income tax deduction.
- Testamentary gifts that preserve access to principal while enabling you to make a lasting gift to Harvard Law School.
- Gifts from retirement plan assets that can reduce your income tax and the taxes your heirs may eventually have to pay.
- Charitable lead trusts that pay an annual amount to Harvard Law School and then distribute to heirs at a reduced transfer tax cost.
What Does Planned Giving Support?
- The Annual Fund, which utilizes unrestricted gifts for broad and immediate impact, allowing the Dean to swiftly address the community’s highest priorities.
- Scholarship funds that enable the Law School to enroll students regardless of financial ability and to create generations of leaders in public and private practice.
- Clinical chairs and professorships that help HLS attract faculty who are leaders in their fields.
- Unrestricted funds that allow Harvard Law School to address emerging topics in the legal profession and prepare students for real-world issues.