Savings Bonds: An Unlikely (But Smart) Gift

Savings bonds may not come to mind when you consider ways you can make an impact on UMass Chan Medical School. However, if you want to relieve some of the tax burden that can come from redeeming bonds during your lifetime, a gift may be a smart choice.

Savings bonds can’t be donated directly to a charitable organization during your lifetime, but you can use your bonds to support our mission in these ways:

• Leave the bonds to UMass Chan Medical School through your will. This will qualify them for relief from income and estate taxes, and we’ll receive the full value of the bonds.
• After your lifetime, leave the bonds to a charitable remainder trust that will first benefit your family with lifetime payments and then support UMass Chan with the remaining balance.
• Redeem the savings bonds and use the cash to make a gift to UMass Chan Medical School. Note: The redemption still triggers a tax liability to you on the interest income, but you may be able to take a charitable deduction for the amount of your gift, if you itemize.

If you have questions about these donation opportunities, please don’t hesitate to contact Kim Canty at 508-723-4243 or kim.canty@umassmed.edu. We would be happy to assist you in determining the best option for you.