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Utah Valley University
in a Meaningful Way

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Give It Twice Trust

Looking for a way to provide for your loved ones while supporting Utah Valley University? A "Give It Twice" Trust, also known as a Testamentary Charitable Remainder Unitrust (T-CRUT), may be the solution.

This type of trust allows you to transfer your IRA or other assets at death to a charitable remainder unitrust that pays income to your family for a set number of years. After that term ends, the remaining trust assets are distributed to Utah Valley University.

Higher education empowers students to build a brighter future, for themselves and their families. Your legacy gift can help make that future a reality.

Benefits of a Give It Twice Trust (T-CRUT)

Provide income to your surviving spouse, children, or other loved ones for a specified period using the full value of your unused retirement account
Create estate tax savings through a charitable deduction
Support the mission and future of Utah Valley University with a meaningful gift

How a Testamentary Charitable Remainder Unitrust (T-CRUT) Works

Consult with your attorney or financial advisor to establish a charitable remainder unitrust (CRUT) as part of your estate plan.
Name the CRUT as the beneficiary of your IRA or other retirement account by completing a beneficiary designation form and submitting it to your account custodian.
When the time comes, your retirement assets will be transferred to the charitable trust in accordance with your estate plan.
The trust will then provide income to your spouse, children, or other loved ones for a specified term or for their lifetime.
After the income period ends, the remaining trust assets will be directed to the area at UVU you've selected.
Documenting your wishes clearly helps ensure your gift is used exactly as you intended, making a lasting impact in the area that matters most to you. Our office is here to help you identify where on campus your future gift can make the greatest impact, whether through scholarships, academic programs, or other meaningful initiatives.

Contact us

If you have any questions about a give it twice trust, please contact us. We would be happy to assist you.

Booklet

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Calculate Benefits

The charitable remainder unitrust calculator generates a printable presentation that shows how you can enjoy increased income with a tax-free sale plus benefit from charitable tax deduction.

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Number of Beneficiaries

One Two

Click the appropriate button for a presentation of one or two beneficiaries. Selecting one beneficiary will cause the second beneficiary and the associated name and birthdate fields to be hidden from view.

First Beneficiary

Enter the name of the person. You may use such titles as "Mr.", "Mrs.", "Dr.", "Rev.", "Jr.", "Sr.", etc. For the remainder unitrust the first person is the first income recipient or beneficiary of the agreement.

First beneficiary is required

Birthdate

Month:

Day:

Year:

Please enter a valid birthdate for the first beneficiary

Birth month of the first beneficiary is required

Birth day of the first beneficiary is required

Birth year of the first beneficiary is required

Second Beneficiary

Second beneficiary is required

Birthdate

Month:

Day:

Year:

Please enter a valid birthdate for the second beneficiary

Birth month of the second beneficiary is required

Birth day of the second beneficiary is required

Birth year of the second beneficiary is required

Income Tax Rate

Select the current federal income tax rate of the donor. This will be used to project possible income tax savings. If you are uncertain about the correct rate, you may choose one of the middle rates. For many people, this will be close to their actual income tax rate.

Property Value $

Please enter a valid property value

Property value is required

Enter the amount of cash or the fair market value (FMV) of the asset(s) used to fund the CGA. For assets such as real estate, closely-held stock and other hard to value assets, the FMV is the appraised value of the property on the date of the gift.

Cost Basis $

Please enter a valid cost basis

Cost basis is required

Enter the cost basis of the asset being used to fund the trust or annuity. If the asset is cash, the cost basis is equal to the gift amount. If it is appreciated property, the cost basis will most likely be the amount you originally paid for the property. The cost basis is used to determine the capital gains tax which will be bypassed as a result of selling the asset. If the cost basis is not known or cannot be proven, the IRS assumes the cost basis to be $0. If cash funds the gift annuity, enter the same value as "Value of Property."

Current Return

Current return percentage is required

Enter the current return or yield of the asset(s) which will be used to fund the gift agreement. For example, if the trust will be funded with public-traded stock which is currently paying a dividend of 3%, the current return yield is, in turn, 3%. If the gift is funded with vacant land or a personal residence (assuming the property is not leased), the current return would be 0%.

Trust Payout

Payout must be between 5% and 50%

Payout percentage is required

Enter the percent income payout to the donor. You must select a trust percent payout of 5% or more.

Payment Frequency

Select either monthly, quarterly, semiannual, or annual income payments to the beneficiary(ies) of the income. The choice of payment frequency does affect the amount of the charitable deduction as the more frequent the payment (i.e. monthly as opposed to annually), the smaller the donor's tax deduction.

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Support Utah Valley University in a Meaningful Way

Give It Twice Trust

Benefits of a Give It Twice Trust (T-CRUT)

How a Testamentary Charitable Remainder Unitrust (T-CRUT) Works

Contact us

Support
Utah Valley University
in a Meaningful Way