to Carolina with wills and IRAs
Donors to UNC-Chapel Hill through their wills have endowed scholarships and professorships, given library collections and left money for new buildings. From Charles Gerrardís bequest in 1797 through Kay Mouzonís in 1998, this means of giving has been ever-popular. Why?
Donors have the satisfaction of making a gift that provides for the Universityís future.
Yet they remain in control of their assets during their lifetimes.
And if their estates are large enough to be subject to estate taxes, making a bequest to UNC-Chapel Hill, which is tax-exempt, can reduce or eliminate those taxes. Donors rather than the government decide how their money will be used after their deaths.
Today some friends of the University have sizable tax-deferred Individual Retirement Accounts. Arranging to give at death the remaining assets in a traditional IRA has the same benefits as leaving a bequest ó and more. Income taxes are eventually due on traditional IRAs, and the combined income and estate taxes can be 75 percent or more on the remaining IRA assets, depending on the size of the deceasedís estate and whether the IRA assets are left to family and friends. The University is a tax-exempt organization, and for some donors with large estates, it can make sense to designate a school, unit, foundation or endowment fund at UNC as the beneficiary of a traditional IRA and leave other assets to heirs.
For information about including Carolina in your estate plan, please contact June Steel, director of regional and planned giving, at 919-962-3439 or email firstname.lastname@example.org. For more information on gift planning see: