Want to make a sizable gift, but concerned about having enough to support you through your lifetime? Giving through your estate can be a great way to leave your legacy without impacting your daily life, and it may reduce estate taxes and income taxes for your heirs.
There are many options for giving through your estate. The most popular options are:
Wills and Trusts: Simply state that UW-Whitewater Foundation, Inc. should receive a percentage of your estate or a specific dollar amount in your will or living trust. UW-Whitewater Foundation offers a Sample Will Codicil you may use as an addendum to your current estate plan.
Insurance: Similar to a bequest in a will, naming UW-Whitewater Foundation as a beneficiary in an insurance policy can be a simple way to leave your legacy.
Investment Assets: Gifts of appreciated stocks and mutual funds can be made at the time of death and can provide tax benefits for your heirs.
IRAs and Other Retirement Accounts: Retirement accounts that are not depleted during your lifetime can be subject to income tax for your heirs, and possibly estate taxes, upon distribution. Designating these funds to make your estate gift can be a tax-efficient way to give.
In all options, donors are welcome to designate a gift for specific fund(s) by submitting a Letter of Intent of a Future Gift and providing the page of the estate document that identifies the gift or benefits.