You can leave a lasting legacy at the University of Nebraska long after you’re gone that won’t affect you or your family during your lifetime.
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, a dollar amount or an item to be donated. You can also designate that, after other specific bequests have been filled, the remainder is to be 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.
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 your financial institution. This type of gift can apply to many assets, including IRA and qualified retirement plans, bank accounts, brokerage accounts, life insurance and commercial annuity contracts.
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 or beneficiary designation of an existing policy or purchase a new policy.
Passing the assets from a retirement plan on to a non-spouse beneficiary can result in both income and estate taxes. To avoid that double taxation, many opt to pass other assets on to heirs and use their retirement plan to make a fully tax-deductible charitable contribution.
Many people have significant wealth tied up in their homes, making a real estate donation 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 rent from your property during your lifetime. Learn more about how to make a gift using real estate.
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 advisers to ensure that your gift will become an enduring and meaningful legacy for many years to come.
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