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Gifts by Estate Note

Diagram Description

What Is an Estate Note?

  • An estate note is an irrevocable pledge or debt against the donor's estate.
  • This instrument binds the donor's estate to the extent not paid during the donor's lifetime.
  • Estate notes may be pledged for either one or two lives. With a two-life estate note, the obligation is binding only on the estate of the person who lives longer.
  • Missouri S&T recommends this option for persons 65 years of age or older.

Benefits of Estate Notes:

  • You may make a charitable gift to Missouri S&T after your lifetime without revising your current will or estate plans.
  • There is no obligation to transfer assets during the donor's lifetime. However, the estate note offers the flexibility to make payments against the note during one's life.
  • Dollar amounts of estate notes count toward fundraising campaigns, while bequest intentions do not. If Missouri University of Science & Technology is already in your will, an estate note may be signed for some portion of the bequest you expect to come to Missouri S&T.
  • Charitable contributions from estate notes may be designated for specific purposes.
  • Missouri University of Science & Technology's estate note is a single-page document.

Tax Considerations:

  • Signing an estate note does not qualify the donor for a charitable deduction.
  • Payments against the obligation during a donor's lifetime will provide income-tax deductions in the year made (up to the full amounts permitted by the IRS tax code).
  • Unpaid estate note balances will provide the estate with an estate-tax deduction. Any amount outstanding on the estate note is deducted from the gross estate before any taxes are applied.

More Information

Contact Us

John D. Held, II
Executive Director of Gift Planning
heldjohn@mst.edu
573-341-6533 Office
712-291-5004 Cell

 

University Advancement
107 Castleman Hall
400 West 10th Street
Rolla, MO 65409

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