Find out what types of assets make the best planned gifts. Learn about gifts of cash, securities and property.
Bob and Mary Are Giving Smarter and Achieving Their Dreams...Find Out How You Can Too!
Bob and Mary first met at Two-Bit Flicks, a 25-cent movie night held on Fridays in Brighton Lecture Hall. When the spring formal hosted by the women's dorm came around, Mary asked Bob to go with her. It was their first "official" date.
The rest, as the saying goes, is history. Or in Bob and Mary's case, it is natural history. That's because Emporia State also introduced them to a lifelong passion for the natural sciences.
Bob and Mary feel Emporia State was the catalyst for the life they've built together. Mary became a science educator for 6th, 7th, 8th and 9th grade students. Bob founded and served as director of the Great Plains Nature Center and became a renowned nature photographer.
Now they want others to have the same opportunity they did. They want to help students come to ESU and discover a passion they can follow for the rest of their lives.
Bob and Mary found a simple and easy way to achieve this dream. When they set up their trust, they named Emporia State as a beneficiary.
What's your dream?
Learn how easy it is to make your dream a reality by naming Emporia State University in your will or trust. Contact Angela Fullen, Director of Planned Giving at the Emporia State University Foundation. She can answer your questions or help you get started. If you have already named Emporia State in your will or trust, let us know. We will make sure your gift does everything you want it to do.
"I would encourage anyone, if they are thinking about doing something like this, to contact the Foundation. For us, it has been a great experience." - Mary Butel
Getting Started is Easy
Not sure how to take the first step? We've got just the thing you need. Download your free Will and Estate Planning Guide. This guide is an easy way to get started on, or update, your estate plan. It will help you explore your options at your own pace. It's free, easy and yours to keep.
Download your copy today or contact Angela Fullen to request a printed copy.
Case of the Week
George's "UT to Green Gift Annuity" Conversion
Case:George Green was a man of humble beginnings. George was both resourceful and determined to succeed. He enrolled in chemical engineering and studied diligently. His diligence was quickly recognized by the faculty. After graduating with honors, he became a graduate assistant and earned a master's degree in engineering. He interviewed and became a product development engineer with a company that built emissions control equipment for automobiles. Soon, George met Helen and they married.
George started a company and initially did environmental consulting. As soon as he could gather and borrow the funds, he started a company that produced components for emissions control equipment. After a terrific struggle, the business took off and George began to manufacture probes for company smokestacks. When asked if that was a good business, George responded, "It is a great business. Companies buy my probes to measure their smokestack emissions. When the government regulations change, they have to upgrade and buy my newer probes!"
George incorporated the probe manufacturer as Green Probe. Enjoying being an entrepreneur, he contemplated the opportunity to purchase a company that built converters for automobiles. He bought the assets of that company and transferred them into a new business, Green Converter. Finally, George started a third company to build "smokestack scrubbers" that would clean the emissions from the smoke of power plants. Since there was a huge increase in the cost of energy, power companies began to build more plants and his "smokestack scrubbers" from Green Scrubber were in great demand.
Question:Eighteen years ago, George funded a unitrust with the Green Converter stock and then the trustee sold all of Green Converter's assets to General Auto. Several years later, George sold Green Probe to Major Power Company. Over the years, the unitrust has grown to over $10,000,000 and George and Helen are not in need of income from the trust. George and Helen have made a $2,000,000 gift from the unitrust to fund the "Green Center" at Favorite Charity but they want to make another larger gift to Favorite Charity.
Solution:His CPA reviewed the situation and offered a suggestion. George and Helen have been saving most of their payouts and now have $3,000,000 in tax-free bonds plus their unitrust. The CPA suggested they convert the unitrust to a gift annuity. George and Helen like the fixed payouts of the gift annuity, so they decide to do the conversion.
Based on their ages, the remainder value of the unitrust is $6,347,160 and the income value is $2,652,840. George and Helen exchanged the $2,652,840 income value for an 8.6% gift annuity from Favorite Charity. The annuity pays $228,144 per year. George, who never misses a senior special, thinks that they will live on about one-third of this amount each year and use the rest to buy more tax-free bonds.
In addition to another charitable deduction of $1,298,754 for the gift annuity, they now will accelerate the remainder gift to Favorite Charity. The $6,347,160 value will be used to double the size of the Green Center and to fund an operations endowment to maintain the center. Both George and Helen are delighted with this excellent enhancement to their legacy. George exclaimed, "We have come a long way, and it has been a great trip!"