PLANNED GIVING

 
 

6 Tips to Avoid Online Fraud

Picture this: you receive an email from the Social Security Administration asking you to update your personal information. By clicking the update button, you mistakenly download a fake anti-virus program that wreaks havoc on your computer. This scenario can happen to anyone. Below are six steps you can take to ensure it doesn't happen to you.

  • Think twice before providing information. Don't provide credit card or bank account numbers unless you are actually paying for something on a secure, reputable site.
  • Be wary of sharing personal information. Companies where you have accounts should not email you asking for personal information they already have. Never enter your Social Security number online.
  • Beware of downloads. Download programs only from websites that you know and trust. Never open attachments or click links in emails unless you're certain of the sender.
  • Watch out for imposters. Scammers often send emails pretending to be connected to government, charities or well-known businesses. If you aren't sure if you're dealing with the real thing, call and ask.
  • Be skeptical of online pharmacies. Some "pharmacies" promise cheaper, better prescription drugs but send buyers counterfeits instead. Make sure the seller is properly licensed by checking with the National Association of Boards of Pharmacy.
  • Avoid “friending” strangers. Don't accept friend requests on social media from people you don't know.

It's a good idea to monitor your credit reports and report suspicious activity immediately. You can also file a complaint with the Internet Crime Complaint Center, a partnership between the FBI and the National White Collar Crime Center.

Ask Us for Help
Contact Jamey Leahey '92 at (859) 238-5224 or leahey@centre.edu if you have any questions or concerns about making secure online gifts to Centre College.

A charitable bequest is one or two sentences in your will or living trust that leave to Centre College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Centre College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Centre College or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Centre College as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Centre College as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Centre College where you agree to make a gift to Centre College and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.