Interested in helping CWIL change the world but feel overwhelmed by the thought of writing another check or giving up your assets today? Planned Gifts can be made now or deferred to a later date. Whether you use cash, appreciated securities/stock, real estate, artwork, partnership interests, personal property, life insurance, a retirement plan, etc., the benefits of funding a planned gift can make this type of charitable giving very attractive to you and CWIL.
If you are interested in a planned gift, would like to receive additional information or arrange for a time to discuss which option might best fit your financial circumstances and your philanthropic goals, please contact Abigail Hemphill.
A Gift in Your Will or Living Trust
A simple, flexible and versatile way to support CWIL is a gift in your will or living trust, known as a charitable bequest.
By including a bequest to the university in your will or living trust, you are ensuring that we can continue to conduct innovative research and programs for years to come. Your gift also entitles your estate to an unlimited federal estate tax charitable deduction.
I hereby give, devise, and bequeath $________ (or ____% of my residual estate) to the Board of Trustees of The University of Texas Law School Foundation (Tax ID 74-6056794) for the use and benefit of the Center for Women in Law at The University of Texas School of Law.
Retirement Plans – IRA
Retirement is a time to take stock of the legacy you will leave. One way to ensure that what you’ve built over your lifetime lives on is by supporting a place that makes a difference every day – The Center for Women in Law. And one of the easiest ways to do that is with an IRA charitable gift.
If you are 70½ or older, you are required to distribute funds annually from your Individual Retirement Account (IRA). This mandatory distribution often creates a tax burden. But federal law* allows you to make direct, annual transfers of up to $100,000 from an IRA to charity without treating the distribution as taxable income. These “charitable transfers” can significantly lower your taxable income, and a direct transfer to the Center for Women in Law from your IRA counts toward your minimum required distribution.
An IRA charitable gift can benefit retirees, who often have paid off their mortgages and don’t file itemized returns. The gift may help to neutralize the negative tax consequences of a minimum required distribution. Give to a good cause and gain an income tax advantage.
*Established under the Pension Protection Act
Passionate about helping CWIL uphold a standard of excellence of which all women can be proud? It’s not only possible, it’s easy to do with a beneficiary designation. Just name the Center for Women in the Law as a beneficiary to receive assets such as retirement plans and life insurance policies. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.
Not only is it an easy way to give, but it’s also flexible—you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
Want to make a big gift to the Center for Women in Law without touching your bank account? Consider giving us real estate. Such a generous gift can helps us continue to promote women in the profession for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you get a federal income tax charitable deduction. You avoid paying capital gains tax. And you no longer have to deal with that property’s maintenance costs, property taxes or insurance.
Another benefit: You don’t have to hassle with selling the real estate. You can deed the property directly to CWIL or ask your attorney to add a few sentences in your will or trust agreement.
Donor Advised Funds
Are you looking for an easy, cost-effective way to support CWIL and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.
Here’s how it works. You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted to CWIL or other charities—sometimes as easily as using a Web portal. And you avoid the cost and complexities of managing a private foundation.
What do you receive in return? An immediate federal income tax charitable deduction at the time you contribute to the account, and the power to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by letting your children help decide which grants to recommend.
Charitable Remainder Trusts
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
Charitable Lead Trusts
You give assets to a trust that pays CWIL set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
Thank you for your consideration and let us know how we can assist you in making a gift.