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Statement of Future Gift As evidence of my/our desire to provide a legacy of support to Colorado State University Pueblo, I/we have made a provision for a gift to the Colorado State University Pueblo

How to fill out statement of future gift

How to fill out statement of future gift

1. Start by obtaining the official statement of future gift form from the relevant authority or organization.
2. Fill in your personal information accurately, including your name, address, and contact details.
3. State the details of the gift, including its description, estimated value, and any specific conditions or restrictions attached to it.
4. Provide the name and contact information of the beneficiary, who will receive the gift in the future.
5. If necessary, outline any additional instructions or wishes regarding the gift or its use.
6. Ensure to sign and date the statement of future gift form.
7. Submit the completed form to the designated authority or organization.
8. Keep a copy of the filled-out form for your records.

Who needs statement of future gift?

1. Individuals who wish to make a legally binding commitment to gift certain assets or possessions in the future.
2. People who want to ensure that their intentions regarding future gifts are clearly documented.
3. Those who want to provide clarity and avoid potential disputes or confusion among beneficiaries.
4. Donors who wish to make charitable contributions or bequests as future gifts.
5. Anyone who wants to make their wishes known and legally enforceable regarding future gifts.

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What is statement of future gift?

The statement of future gift is a form that individuals must file with the IRS if they plan to give a gift that exceeds the annual gift tax exclusion.

Who is required to file statement of future gift?

Individuals who plan to give a gift that exceeds the annual gift tax exclusion are required to file a statement of future gift.

How to fill out statement of future gift?

The statement of future gift can be filled out online using the IRS's electronic filing system or by mailing a paper form to the IRS.

What is the purpose of statement of future gift?

The purpose of the statement of future gift is to notify the IRS of a gift that exceeds the annual gift tax exclusion and may be subject to gift tax.

What information must be reported on statement of future gift?

The statement of future gift must include information about the donor, the recipient, the value of the gift, and any applicable exemptions or exclusions.