Planned Giving - Glossary


“Long term” assets are shares that have been held for at least one year and one day.

Required Minimum Distribution: An IRS required withdrawal from tax-deferred retirement accounts that begins in the year in which the account owner turns 70.5.

Step-up in cost basis: Changes the basis of an asset to the current market value at the date of death of the owner of the asset. In some situations, an alternative valuation date may be elected by the estate, please speak with your attorney or tax advisor for further information.


Disclaimer: This content is for educational and informational purposes only and should not be considered legal, tax, accounting or other professional advice. We encourage you to consult with your professional advisors regarding any gift you are considering.

315 E. College Avenue
Greenville, Illinois 62246-1145
800.345.4440 / 618.664.7100
Contact Us © 2000-18 Greenville University. All rights reserved.
Greenville University is authorized to operate as a postsecondary educational institution by the Illinois Board of Higher Education
Accreditation | IBHE Complaint Form