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Gifts that can be made without giving money right now

Charitable bequests

A bequest is perhaps the easiest and most flexible way to have a lasting impact on the University of Nebraska. Through your will or living trust, you can designate a specific percentage of your estate, dollar amount or item to be donated. You can also designate that after other specific bequests have been filled, the remainder is directed to the university. You may wish to consider naming the University of Nebraska Foundation as a contingent beneficiary in the event that your named beneficiaries do not survive you.

With a bequest, you maintain complete control of your assets during your lifetime and can save on income taxes and estate taxes. 

Beneficiary Designations

The assets in a variety of financial accounts can be gifted to the University of Nebraska Foundation via beneficiary designation. Most often this is done by simply completing a short, user-friendly beneficiary designation form provided by the financial institution. This type of gift can apply to many assets, including IRA and qualified retirement plans, bank accounts, brokerage accounts and life insurance and commercial annuity contracts.

Life insurance

By completing a simple form provided by your insurer, you can name the University of Nebraska Foundation as a beneficiary, or owner and beneficiary, of a life insurance policy. You can change the owner and/or beneficiary designation of an existing policy or purchase a new policy.

Retirement plan assets

If you want a portion of your estate to support the University of Nebraska, why not select that portion so as to minimize taxation? Retirement plan assets such as a 401(k) or an IRA are subject to income taxes during your lifetime and upon your death. If you leave retirement assets to a non-spouse beneficiary, they may be subject to both income and estate taxes. Therefore, many people prefer to avoid this double taxation by directing retirement plan assets as a gift to charity, in which case the gift is fully tax deductible from the estate. Other assets with less of a tax penalty can be left to family members.

Retained life estates

Many people have significant wealth tied up in their homes, making a retained life estate gift a valuable gift that also provides a significant tax benefit for the donor. You can deed property, such as your home or farm, to the foundation now and receive a sizable income tax deduction. This is particularly attractive if your property is debt-free. One of the benefits of this option is that you make the gift now, but retain the rights to continue to live on or collect rents from your property during your lifetime.

For All Planned Gifts

If you are making a planned gift, please remember the appropriate designation is: the University of Nebraska Foundation, a Nebraska nonprofit corporation. Also, please let the University of Nebraska Foundation know about your plans by completing a Gift Intention Form. We want to thank you for your gift and make sure it is used as you intend.

We look forward to working with you and your advisors to ensure that your gift will become an enduring and meaningful legacy for many years to come.

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If I can give somebody else an opportunity to have the same wonderful experience that I had at the University of Nebraska, that would be very dear to me. I feel that a planned gift is the best way for me to do that.
scott Whiteford,
PH. D.